<SEC-DOCUMENT>0001140361-20-015476.txt : 20200707
<SEC-HEADER>0001140361-20-015476.hdr.sgml : 20200707
<ACCEPTANCE-DATETIME>20200707090139
ACCESSION NUMBER:		0001140361-20-015476
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		69
CONFORMED PERIOD OF REPORT:	20200531
FILED AS OF DATE:		20200707
DATE AS OF CHANGE:		20200707

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PURE CYCLE CORP
		CENTRAL INDEX KEY:			0000276720
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				840705083
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08814
		FILM NUMBER:		201015322

	BUSINESS ADDRESS:	
		STREET 1:		34501 E. QUINCY AVE
		STREET 2:		BLDG. 34
		CITY:			WATKINS
		STATE:			CO
		ZIP:			80137
		BUSINESS PHONE:		3032923456

	MAIL ADDRESS:	
		STREET 1:		34501 E. QUINCY AVE
		STREET 2:		BLDG. 34
		CITY:			WATKINS
		STATE:			CO
		ZIP:			80137
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>form10q.htm
<DESCRIPTION>10-Q
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Summit Financial
         Document created using EDGARfilings PROfile 7.1.0.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
  <div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt;">Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">Form 10-Q</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf97dcf905c6d4b9aa10b5a4f2164eca9">

        <tr>
          <td style="width: 18pt; vertical-align: top;">&#9746;</td>
          <td style="width: auto; vertical-align: top;">
            <div>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center;">For the quarterly period ended <font style="font-weight: bold;">May 31, 2020</font></div>
    <div style="text-align: center;">or</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z89fe32e6136d4f388265a8b79f820de6">

        <tr>
          <td style="width: 18pt; vertical-align: top;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">For the transition period from __________ to __________</div>
    <div><br>
    </div>
    <div style="text-align: center;"><u>Commission file number </u><font style="font-weight: bold;"><u>000-08814</u></font></div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center;"><img src="image00001.jpg"></div>
    <div style="text-align: center;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z72a37b747dda4b32ac8beba811791719">

        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 24pt;">
            <div style="text-align: center; font-weight: bold;">PURE CYCLE CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-top: #000000 2px solid;">
            <div style="text-align: center;">(Exact name of registrant as specified in its charter)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3ac6415049f34665aedd7a38d3228d5e">

        <tr>
          <td style="width: 49%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Colorado</div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 48.68%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">84-0705083</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(State or other jurisdiction of incorporation or organization)</div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 48.68%; vertical-align: top;">
            <div style="text-align: center;">(I.R.S. Employer Identification Number)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zef4483b1fb324742b019de51e9a02371">

        <tr>
          <td style="width: 49%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">34501 E. Quincy Avenue, Bldg. 34, Watkins, CO</div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 48.68%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">80137</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(Address of principal executive offices)</div>
          </td>
          <td style="width: 2.32%; vertical-align: top;">&#160;</td>
          <td style="width: 48.68%; vertical-align: top;">
            <div style="text-align: center;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zef409662925648dab47a4f2f2be00fa1">

        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">(303) 292 &#8211; 3456</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(Registrant&#8217;s telephone number, including area code)</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center; color: #000000;"><u> <br>
      </u></div>
    <div style="text-align: center; color: #000000;"><u>Securities registered pursuant to Section 12(b) of the Act:</u></div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z11c3a07900e2464cb189ac1d70045e59">

        <tr>
          <td style="width: 36.67%; vertical-align: top; border-bottom: 2px solid #000000;">
            <div>
              <div style="text-align: center; font-weight: bold;">Common Stock 1/3 of $.01 par value</div>
            </div>
          </td>
          <td style="width: 26.68%; vertical-align: top; border-bottom: 2px solid #000000;">
            <div>
              <div style="text-align: center; font-weight: bold;">PCYO</div>
            </div>
          </td>
          <td style="width: 36.66%; vertical-align: top; border-bottom: 2px solid #000000;">
            <div>
              <div style="text-align: center; font-weight: bold;">The NASDAQ Stock Market</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 36.67%; vertical-align: top;">
            <div style="text-align: center;">(Title of each class)</div>
          </td>
          <td style="width: 26.68%; vertical-align: top;">
            <div style="text-align: center;">&#160;(Trading Symbol(s))</div>
          </td>
          <td style="width: 36.66%; vertical-align: top;">
            <div style="text-align: center;">(Name of each exchange on which registered)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that
      the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes &#9746; No &#9744;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12
      months (or for such shorter period that the registrant was required to submit such files). Yes &#9746;&#160; No &#9744;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large
      accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zedf2adb1a0f849288f0cc5f2113f71b7">

        <tr>
          <td style="width: 60%; vertical-align: top;">
            <div style="text-align: justify;">Large accelerated filer &#9744;</div>
          </td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Accelerated filer &#9746;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 60%; vertical-align: top;">
            <div style="text-align: justify;">Non-accelerated filer &#9744;</div>
          </td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Smaller reporting company &#9746;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Emerging growth company &#9744;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act &#9744;</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes &#9744; No &#9746;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate the number of shares outstanding of each of the issuer&#8217;s classes of common stock, as of July 2, 2020:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z8a51b9910b954a8b84369993fae89720">

        <tr>
          <td style="width: 49%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Common stock, 1/3 of $.01 par value</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">23,853,598</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(Class)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(Number of Shares)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">PURE CYCLE CORPORATION</div>
    <div style="text-align: center; font-weight: bold;"><a name="INDEX"><!--Anchor--></a>INDEX TO MAY 31, 2020 FORM 10-Q</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z82f5258bcce3472e936be3587c243e97">

        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Page</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="width: 95%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;"><a href="#PARTI">PART I. FINANCIAL INFORMATION</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#Item1.">Item 1. Consolidated Financial Statements</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#CONSOLIDATEDBALANCESHEETS">Consolidated Balance Sheets:</a></div>
            <div><a href="#PURECYCLECORPORATION">May 31, 2020 (unaudited) and August 31, 2019</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#INCOME">Consolidated Statements of Operations and Comprehensive Income (unaudited):</a></div>
            <div><a href="#PURE">For the three and nine months ended May 31, 2020 and May 31, 2019</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#EQUITY">Consolidated Statements of Shareholders&#8217; Equity (unaudited):</a></div>
            <div><a href="#CYCLE">For the three and nine months ended May 31, 2020 and May 31, 2019</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#CASHFLOWS">Consolidated Statements of Cash Flows (unaudited):</a></div>
            <div><a href="#CORP">For the nine months ended May 31, 2020 and May 31, 2019</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#FINANCIALSTATEMENTS">Notes to Consolidated Financial Statements</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>6</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#Item2.">Item 2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>24</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#Item3.">Item 3. Quantitative and Qualitative Disclosures About Market Risk</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>39</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#Item4.">Item 4. Controls and Procedures</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>39</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="width: 95%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;"><a href="#PARTIIOTHERINFORMATION">PART II. OTHER INFORMATION</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">
            <div>40<br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="#Item6.">Item 6. Exhibits</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">40</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="width: 95%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-weight: bold;"><a href="#SIGNATURES">SIGNATURES</a></div>
          </td>
          <td style="width: 5%; vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255);">41</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <!--PROfilePageNumberReset%Num%1%%%-->
    <div style="text-align: center; font-weight: bold;"><a name="PARTI"><!--Anchor--></a>PART I &#8211; FINANCIAL INFORMATION</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb85693c09749428d80ce67d7a2ef3d1e">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-weight: bold;"><a name="Item1."><!--Anchor--></a>Item 1.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Financial Statements</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><a name="PURECYCLECORPORATION"><!--Anchor--></a>PURE CYCLE CORPORATION</div>
    <div style="text-align: center; font-weight: bold;"><a name="CONSOLIDATEDBALANCESHEETS"><!--Anchor--></a>CONSOLIDATED BALANCE SHEETS</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zbf87ce49760242ec8969a0ed8ac027f6" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-weight: bold;">ASSETS:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">May 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">August 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center;">(unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Current assets:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Cash and cash equivalents</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>17,074,761</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>4,478,020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Short-term investments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>5,188,813</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Trade accounts receivable, net</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>645,130</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>1,099,631</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Prepaid expenses and deposits</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,063,777</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,016,751</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Land development inventories</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>3,895,759</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>11,613,112</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Income taxes receivable</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>323,108</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>141,410</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Total current assets</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>23,002,535</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>23,537,737</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Investments in water and water systems, net</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>55,393,452</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>50,270,310</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land and mineral interests</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>5,439,290</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>5,104,477</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Notes receivable - related parties, including accrued interest</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>1,059,724</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>988,381</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Other assets</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>2,076,989</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,945,202</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Long-term land investment</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>450,641</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>450,641</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Operating leases - right of use assets, less current portion</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>213,252</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Deferred tax asset</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>573,190</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>1,283,246</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Income taxes receivable</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>141,410</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Total assets</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>88,209,073</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>83,721,404</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-weight: bold;">LIABILITIES:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Current liabilities:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Accounts payable</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>207,348</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>170,822</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Accrued liabilities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>643,709</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,097,922</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Accrued liabilities - related parties</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>629,848</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2,330,496</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Deferred revenues, current</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>2,526,155</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>3,991,535</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Deferred oil and gas lease payment and water sales payment</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>2,254,830</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>706,464</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Total current liabilities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>6,261,890</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>8,297,239</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Deferred oil and gas lease payment and water sales payment, less current portion</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>212,819</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>360,884</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Lease obligations - operating leases, less current portion</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>140,318</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Participating Interests in Export Water Supply</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>327,942</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>332,140</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total liabilities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>6,942,969</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>8,990,263</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-weight: bold;">SHAREHOLDERS&#8217; EQUITY:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Preferred stock:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Series B - par value $0.001 per share, 25 million shares authorized; 432,513 shares issued and outstanding (liquidation preference of $432,513)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Common stock:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Par value 1/3 of $.01 per share, 40 million shares authorized; 23,853,598 and 23,826,598 shares outstanding, respectively</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>79,517</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>79,427</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Additional paid-in capital</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>172,835,457</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>172,360,413</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accumulated other comprehensive income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>3,891</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accumulated deficit</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(91,649,303</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(97,713,023</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total shareholders&#8217; equity</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>81,266,104</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>74,731,141</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total liabilities and shareholders&#8217; equity</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>88,209,073</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>83,721,404</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>See accompanying Notes to Consolidated Financial Statements</div>
    <div><br>
    </div>
    <div></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: center; font-weight: bold;"><a name="PURE"><!--Anchor--></a>PURE CYCLE CORPORATION</div>
    <div style="text-align: center; font-weight: bold;"><a name="CONSOLIDATEDSTATEMENTSOFO"><!--Anchor--></a>CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE <a name="INCOME"><!--Anchor--></a>INCOME</div>
    <div style="text-align: center; font-weight: bold;">(unaudited)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z3fd5e93be25548bda65f66009859cc06" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Three Months Ended May 31,</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Nine Months Ended May 31,</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;"> 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Revenues:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Metered water usage - municipal</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>97,747</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>39,567</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>237,952</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>157,173</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Metered water usage - oil and gas</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>15,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,308,454</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>71,944</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>2,717,717</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Wastewater treatment fees</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>22,489</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>7,419</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>62,377</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>23,821</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Water and wastewater tap fees</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,004,905</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,083,189</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>3,849,878</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,805,091</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Lot sales</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>696,170</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2,708,093</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>11,503,523</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>6,035,670</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Other</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>13,810</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>37,941</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>104,056</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>148,159</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Total revenues</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>1,850,121</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>5,184,663</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>15,829,730</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>10,887,631</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Expenses:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Water service operations</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(94,934</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(400,495</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(556,023</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(965,279</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Wastewater service operations</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(62,967</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(14,512</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(126,479</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(21,889</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Land development construction costs</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(555,780</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(2,588,072</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(10,436,213</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(5,715,994</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Depletion and depreciation</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(385,788</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(225,334</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(987,795</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(537,709</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Other</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(7,104</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(33,889</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(34,554</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(104,162</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Total cost of revenues</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(1,106,573</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(3,262,302</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(12,141,064</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(7,345,033</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Gross profit</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>743,548</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,922,361</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>3,688,666</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>3,542,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">General and administrative expenses</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(800,609</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(665,684</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(2,638,594</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(1,864,125</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Depreciation</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(85,596</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(97,846</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(265,950</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(276,251</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Operating (loss) income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(142,657</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,158,831</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>784,122</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,402,222</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Other income (expense):</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0); text-indent: -9pt; margin-left: 18pt;">Reimbursement of construction costs - related party</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>6,275,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
            <div style="text-indent: -9pt; margin-left: 18pt;">Oil and gas lease income, net</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>61,740</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>13,933</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>185,221</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>41,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-indent: -9pt; margin-left: 18pt;">Oil and gas royalty income, net</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>74,130</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>37,263</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>612,744</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>113,104</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
            <div style="text-indent: -9pt; margin-left: 18pt;">Interest income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>24,462</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>53,986</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>162,431</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>246,809</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-indent: -9pt; margin-left: 18pt;">Other</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>18,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(2,642</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>18,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(4,617</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Income from operations before income taxes</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>36,275</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,261,371</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>8,038,618</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,799,318</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Income tax expense</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(8,938</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(1,974,898</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Net income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>27,337</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>1,261,371</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>6,063,720</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>1,799,318</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Unrealized holding losses</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(233</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(31</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(3,891</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(53,790</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total comprehensive income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>27,104</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>1,261,340</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>6,059,829</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>1,745,528</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Earnings per common share:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Basic</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>0.05</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>0.25</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>0.08</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Diluted</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>0.05</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>0.25</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>0.07</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(255, 255, 255);">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Weighted average common shares outstanding:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
            <div>&#160;<br>
            </div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
            <div>&#160;<br>
            </div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
            <div>&#160;<br>
            </div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
            <div>&#160;<br>
            </div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" rowspan="1" style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
            <div style="text-indent: -9pt; margin-left: 18pt;">Basic</div>
          </td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>23,852,765</div>
          </td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>23,801,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>23,841,876</div>
          </td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>23,791,320</div>
          </td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">
            <div style="text-indent: -9pt; margin-left: 18pt;">Diluted</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>24,052,820</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>24,003,242</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>24,071,018</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>23,998,254</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>* Amount is less than $0.01 per share</div>
    <div><br>
    </div>
    <div style="text-align: center;">See accompanying Notes to Consolidated Financial Statements</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: center; font-weight: bold;">PURE <a name="CYCLE"><!--Anchor--></a>CYCLE CORPORATION</div>
    <div style="text-align: center; font-weight: bold;">CONSOLIDATED STATEMENT OF SHAREHOLDERS&#8217; <a name="EQUITY"><!--Anchor--></a>EQUITY</div>
    <div style="text-align: center; font-weight: bold;">Three Months Ended May 31, 2020 and 2019</div>
    <div style="text-align: center; font-weight: bold;">(unaudited)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z66d85e3c773c459cb33bf80c495b24f7" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Preferred Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Common Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Additional</div>
            <div style="text-align: center; font-weight: bold;">Paid-in</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
            <div style="text-align: center; font-weight: bold;">Other</div>
            <div style="text-align: center; font-weight: bold;">Comprehensive</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Capital</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Income (Loss)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Deficit</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">February 29, 2020 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>23,851,098</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>79,509</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>172,748,925</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>233</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>(91,676,640</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>81,152,460</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Stock option exercises</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>2,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>4,617</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>4,625</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Stock granted for services</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Share-based compensation</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>81,915</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>81,915</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>27,337</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>27,337</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Unrealized holding loss on investments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(233</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(233</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">May 31, 2020 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>23,853,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>79,517</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>172,835,457</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>(91,649,303</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>81,266,104</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z04e9ddabf14e453b86688d09c652484f" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Preferred Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Common Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Additional</div>
            <div style="text-align: center; font-weight: bold;">Paid-in</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
            <div style="text-align: center; font-weight: bold;">Other</div>
            <div style="text-align: center; font-weight: bold;">Comprehensive</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Capital</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Income (Loss)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Deficit</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">February 28, 2019 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>23,801,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>79,344</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>172,107,735</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>12,687</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>(101,986,224</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>70,213,975</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Stock option exercises</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Share-based compensation</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>96,096</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>96,096</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>1,261,371</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>1,261,371</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Unrealized holding loss on investments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(31</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(31</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">May 31, 2019 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>23,801,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>79,344</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>172,203,831</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>12,656</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>(100,724,853</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>71,571,411</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">See accompanying Notes to Consolidated Financial Statements</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: center; font-weight: bold;">PURE CYCLE CORPORATION</div>
    <div style="text-align: center; font-weight: bold;">CONSOLIDATED STATEMENT OF SHAREHOLDERS&#8217; EQUITY</div>
    <div style="text-align: center; font-weight: bold;">Nine Months Ended May 31, 2020 and 2019</div>
    <div style="text-align: center; font-weight: bold;">(unaudited)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z538df8042f1a467083d6b741a7bbef97" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Preferred Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Common Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Additional</div>
            <div style="text-align: center; font-weight: bold;">Paid-in</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
            <div style="text-align: center; font-weight: bold;">Other</div>
            <div style="text-align: center; font-weight: bold;">Comprehensive</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Capital</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Income (Loss)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Deficit</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">August 31, 2019 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>23,826,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>79,427</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>172,360,413</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>3,891</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>(97,713,023</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>74,731,141</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Stock option exercises</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>15,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>50</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>39,975</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>40,025</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Stock granted for services</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>12,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>40</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>149,360</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>149,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Share-based compensation</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>285,709</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>285,709</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>6,063,720</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>6,063,720</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Unrealized holding loss on investments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(3,891</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(3,891</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">May 31, 2020 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>23,853,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>79,517</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>172,835,457</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>(91,649,303</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>81,266,104</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zaec0c30b2bc64da799d2cb67ed895c72" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Preferred Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Common Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Additional</div>
            <div style="text-align: center; font-weight: bold;">Paid-in</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
            <div style="text-align: center; font-weight: bold;">Other</div>
            <div style="text-align: center; font-weight: bold;">Comprehensive</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Capital</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Income (Loss)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Deficit</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">August 31, 2018 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>23,764,098</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>79,218</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>171,831,293</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>66,446</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>(102,524,171</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>69,453,219</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Stock option exercises</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>37,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>126</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>114,725</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>114,851</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Share-based compensation</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>257,813</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>257,813</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Adoption of accounting standards</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>1,799,318</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;">
            <div>1,799,318</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Unrealized holding loss on investments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(53,790</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(53,790</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 20%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">May 31, 2019 balance:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>432,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>433</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>23,801,598</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>79,344</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>172,203,831</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>12,656</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>(100,724,853</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>71,571,411</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">See accompanying Notes to Consolidated Financial Statements</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: center; font-weight: bold;">PURE CYCLE <a name="CORP"><!--Anchor--></a>CORPORATION</div>
    <div style="text-align: center; font-weight: bold;">CONSOLIDATED STATEMENTS OF <a name="CASHFLOWS"><!--Anchor--></a>CASH FLOWS</div>
    <div style="text-align: center; font-weight: bold;">(unaudited)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9c9af435261c4810bb1ba7c94ea827a5" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Nine Months Ended May 31,</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;"> 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Cash flows from operating activities:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Net income</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>6,063,720</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>1,799,318</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Adjustments to reconcile net income to net cash provided (used) by operating activities:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Share-based compensation expense</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>435,109</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>257,813</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Depreciation and depletion</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,253,745</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>813,960</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Recovery of doubtful accounts</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(31,233</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Investment in Well Enhancement and Recovery Systems LLC</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>11,730</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>7,846</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Interest income and other non-cash items</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(175</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(315</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Interest added to receivable from related parties</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(33,844</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(30,753</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Deferred income taxes</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>710,056</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Proceeds from CAB reimbursement applied to land development inventories</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>4,229,501</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Changes in operating assets and liabilities:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Land development inventories</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>2,575,742</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(5,306,880</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Trade accounts receivable</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>454,501</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>504,252</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Prepaid expenses</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(47,027</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(1,261,278</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Notes receivable - related parties</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(37,499</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(34,223</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Other assets</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>75,063</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(90,097</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Accounts payable and accrued liabilities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(382,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(739,878</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Income taxes</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(40,288</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Deferred revenues</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(1,461,479</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>1,270,747</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Deferred income - oil and gas lease and water sales payment</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,400,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>98,722</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 34.2pt;">Lease obligations - operating leases</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(2,743</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 43.2pt;">Net cash provided (used) by operating activities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>15,203,612</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(2,741,999</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Cash flows from investing activities:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Sale and maturities of short-term investments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>6,905,157</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>36,736,420</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Purchase of short-term investments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(1,720,234</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(34,071,015</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Investments in water, water systems and land</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(7,302,326</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(7,695,968</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Purchase of property and equipment</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(525,295</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(320,014</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Net cash used by investing activities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(2,642,698</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(5,350,577</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Cash flows from financing activities:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Proceeds from exercise of stock options</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>40,025</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>114,850</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Payments to contingent liability holders</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(4,198</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(6,002</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt;">Net cash provided by financing activities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>35,827</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>108,848</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net change in cash and cash equivalents</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div>12,596,741</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div>(7,983,728</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Cash and cash equivalents &#8211; beginning of period</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>4,478,020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>11,565,038</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Cash and cash equivalents &#8211; end of period</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>17,074,761</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>3,581,310</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf8b2dca07bda4a7ba4124d617d4dfce9" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION AND NON-CASH ACTIVITIES</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Changes in Land development inventories included in accounts payable and accrued liabilities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>912,110</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>2,191,577</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Changes in Investments in water, water systems and land included in accounts payable and accrued liabilities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>(897,516</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Income taxes paid</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>1,305,130</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">See accompanying Notes to Consolidated Financial Statements</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">PURE CYCLE CORPORATION</div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: center; color: #000000; font-weight: bold;">NOTES TO CONSOLIDATED <a name="FINANCIALSTATEMENTS"><!--Anchor--></a>FINANCIAL STATEMENTS</div>
    </div>
    <div style="text-align: center; font-weight: bold;">MAY 31, 2020</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 1 &#8211; PRESENTATION OF INTERIM INFORMATION</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The May 31, 2020 consolidated balance sheet, the consolidated statements of operations and comprehensive income for the three and nine months ended May 31, 2020 and 2019, the consolidated statements of shareholders&#8217;
      equity for the three and nine months ended May 31, 2020 and 2019, and the consolidated statements of cash flows for the nine months ended May 31, 2020 and 2019 have been prepared by Pure Cycle Corporation (the &#8220;Company&#8221;) and have not been audited.
      The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows at May 31, 2020, and for all periods presented.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) have been condensed
      or omitted. It is suggested that the accompanying consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended
      August 31, 2019 (the &#8220;2019 Annual Report&#8221;) filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on November 12, 2019. The results of operations for interim periods presented are not necessarily indicative of the operating results expected
      for the full fiscal year. The August 31, 2019 balance sheet was derived from the Company&#8217;s audited consolidated financial statements.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Coronavirus Aid, Relief, and Economic Security Act (&#8220;CARES Act&#8221;)</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">On March 27, 2020, Congress enacted the CARES Act to provide certain relief as a result of </font><font style="background-color: rgb(255, 255, 255); color: rgb(33, 37, 41);">the
        recent outbreak of a novel strain of the coronavirus (&#8220;COVID-19&#8221;)</font><font style="color: rgb(0, 0, 0);"> pandemic. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and
        future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, technical corrections
        from prior tax legislation for tax depreciation of certain qualified improvement property, and the creation of certain refundable employee retention credits. We are currently evaluating the impact on our financial statements and have not yet
        quantified what material impacts to the financial statements, if any, that may result from the CARES Act.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;">On April 17, 2020, the Company entered into a $390,000 note payable with Central Bank &amp; Trust part of Farmers &amp; Stockmens Bank pursuant to the Paycheck Protection Program (&#8220;PPP Loan&#8221;) under the CARES Act. On
      May 13, 2020, the Company returned the entire outstanding balance of $390,278, inclusive of interest.&#160; The interest was waived by Central Bank &amp; Trust.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Reclassifications</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">Certain reclassifications have been made to the 2019 financial statements to conform to the consolidated 2020 financial statement presentation. These reclassifications had no effect on net earnings or
      cash flows previously reported.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Use of Estimates</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and
      liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used to account for certain items such as revenue recognition, reimbursable costs and expenses, costs of
      revenue for lot sales, share-based compensation, deferred tax asset valuation, depreciation and the recoverability of long lived assets. <font style="background-color: #FFFFFF; color: #212529;">Actual results and outcomes may differ from
        management&#8217;s estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to COVID-19.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Cash and Cash Equivalents</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less. The Company&#8217;s cash equivalents are comprised entirely of money market funds maintained at a
      reputable financial institution and U.S. Treasury debt securities. At various times during the three months ended May 31, 2020, the Company&#8217;s main operating account exceeded federally insured limits. To date, the Company has not suffered a loss due
      to such excess balance.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Land Development Inventories</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Land development inventories primarily include land held for development and sale, which are stated at cost. The majority of the costs included in the Land development inventories line relate to costs to acquire and
      develop the Company&#8217;s Sky Ranch development. Sky Ranch is a 930-acre master planned development located in Arapahoe County, Colorado, and the Land development inventories account reflects costs incurred to construct infrastructure on the lots at Sky
      Ranch that meet the Company&#8217;s capitalization criteria for improvements. Costs are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of
      lots at Sky Ranch. The Company accumulates land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales over time based on inputs of costs incurred to date to total
      estimated costs to complete.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company values land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent sales prices for comparable lots.
      If a sales price is not available, the Company will consider several factors, including, but not limited to, current market conditions, and market analysis studies. If the net realizable value is lower than the current carrying value, the land is
      written down to its estimated net realizable value.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Contract Asset</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: #000000;">Contract receivables are recorded at the invoiced amount and do not bear interest. Credit is extended based on the evaluation of a customer&#8217;s financial condition and collateral is not
        required. </font>Contract assets<font style="color: #000000;"> reflect revenue which has been earned but not yet invoiced. The contract assets are transferred to receivables when the Company has the right to bill such amounts and they are
        invoiced.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Investments</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determinations each reporting period.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Securities that the Company does not have the positive intent or ability to hold to maturity, including certificate of deposits and U.S. Treasury debt securities, are reported at their fair value. Changes in value of
      such securities are recorded as a component of <font style="font-style: italic;">Accumulated other comprehensive income (loss).</font> The cost of securities sold is based on the specific identification method. As of May 31, 2020, the Company held
      no securities.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Concentration of Credit Risk and Fair Value</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and investments. From time to time, the Company places its cash in money market
      instruments, certificates of deposit and U.S. Treasury obligations. To date, the Company has not experienced significant losses on any of these investments.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value. The Company uses a fair value hierarchy that has
      three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the measurement falls.&#160; The estimated fair value measurements in Note 2 &#8211; <font style="font-style: italic;">Fair Value Measurements</font> are based on Level 2 of the fair value hierarchy.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Cash and Cash Equivalents &#8211;</font> The Company&#8217;s cash and cash equivalents are reported using the values as reported by the financial institution where the funds are
      held. These securities primarily include balances in the Company&#8217;s operating and savings accounts. The carrying amount of cash and cash equivalents approximate fair value.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Trade Accounts Receivable &#8211;</font> The Company records accounts receivable net of allowances for uncollectible accounts and the carrying value approximate fair value
      due to the short-term nature of the receivables.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Investments &#8211; </font>The carrying amounts of investments are recorded at fair value. Investments are described further in Note 2 &#8211; <font style="font-style: italic;">Fair Value Measurements.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Accounts Payable &#8211;</font> The carrying amounts of accounts payable approximate fair value due to the relatively short period to maturity for these instruments.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Long-Term Financial Liabilities</font><font style="font-weight: bold;"> &#8211;</font> The Comprehensive Amendment Agreement No. 1 (the &#8220;CAA&#8221;) is comprised of a recorded
      balance at fair value and an off-balance sheet or &#8220;contingent&#8221; obligation associated with the Company&#8217;s acquisition of its &#8220;Rangeview Water Supply&#8221; (as defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II,
      Item 8 of the 2019 Annual Report). The amount payable is a fixed amount but is repayable only upon the sale of &#8220;Export Water&#8221; (as defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019
      Annual Report). Because of the uncertainty of the sale of Export Water, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. The CAA is described further in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease &#8211; Participating Interests in Export Water Supply</font>.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Notes Receivable &#8211; Related Parties</font><font style="font-weight: bold;"> &#8211; </font>The carrying amounts of the <font style="font-style: italic;">Notes receivable
        &#8211; related parties </font>(including with the Rangeview Metropolitan District (the &#8220;Rangeview District&#8221;) and the Sky Ranch Community Authority Board (the &#8220;CAB&#8221;)) approximate their fair value because the interest rates on the notes approximate
      market rates.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Off-Balance Sheet Instruments &#8211; </font>The Company&#8217;s off-balance sheet instruments consist entirely of the contingent portion of the CAA. Because repayment of this
      portion of the CAA is contingent on the sale of Export Water, which is not reasonably estimable, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. See further discussion in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease &#8211; Participating Interests in Export Water Supply</font>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Revenue Recognition</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company disaggregates revenue by major product line as reported on the consolidated statements of operations and comprehensive income.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company generates revenues primarily through two lines of business: (i) through the provision of wholesale water and wastewater services and (ii) through the sale of developed land predominately in the form of
      residential lots, both of which are described in greater detail below..</div>
    <div><br>
    </div>
    <div style="font-style: italic; font-weight: bold;">Wholesale Water and Wastewater Service Fees</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company generates revenue through its wholesale water and wastewater services predominantly from three sources, which are described in detail below:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2d1f0ef702a840819f51358f372c585f">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><u>Monthly water usage and wastewater treatment fees</u>&#160;<font style="font-weight: bold; font-style: italic;">&#8211;</font> The Company provides water and wastewater services to customers, for which the customers are charged fees monthly. Water
              usage fees are assessed to customers based on actual metered usage each month plus a base monthly service fee assessed per single family equivalent (&#8220;SFE&#8221;) unit served. One SFE is a customer, whether residential, commercial or industrial,
              that imparts a demand on the Company&#8217;s water or wastewater systems similar to the demand of a family of four persons living in a single-family house on a standard-sized lot. Water usage pricing is based on a tiered pricing structure. The
              Company recognizes wholesale water usage revenues at a point in time upon delivering water to its customers or its governmental customers&#8217; end-use customers, as applicable. Revenues recognized by the Company from the sale of &#8220;Export Water&#8221;
              and other portions of its &#8220;Rangeview Water Supply&#8221; off the &#8220;Lowry Range&#8221; are shown gross of royalties to the State of Colorado Board of Land Commissioners (the &#8220;Land Board&#8221;). The Company is the primary distributor of the Export Water and sets
              pricing for the sale of Export Water. Revenues recognized by the Company from the sale of water on the Lowry Range are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District. For water sales on the Lowry
              Range, the Rangeview District is directly selling the water and deemed the primary distributor of the water. The Rangeview District sets the price for the water sales on the Lowry Range. See further description of Export Water, the Lowry
              Range, and the Rangeview Water Supply in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> under &#8220;Rangeview Water Supply and Water System&#8221; in Part II, Item 8 of the 2019 Annual Report.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">In addition, the Company provides water for hydraulic fracturing to industrial customers in the oil and gas industry that are located in and adjacent to its service areas (referred to as &#8220;O&amp;G
      operations&#8221;). O&amp;G operations revenues are recognized at a point in time upon delivering water to a customer, unless other special arrangements are made.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">The Company delivered 12.2 million and 96.9 million gallons of water to customers during the three months ended May 31, 2020 and May 31, 2019, respectively, of which 0% and 93% was used for oil and
      gas exploration. <font style="background-color: #FFFFFF; color: #000000;">The Company delivered 32.4 million and 232.3 million gallons of water to customers during the nine months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">May 31, 2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively, of which 3% and 85% was used for oil and gas exploration.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">The Company recognizes wastewater treatment revenues monthly based on a flat monthly fee and actual usage charges. The monthly wastewater treatment fees are shown net of amounts retained by the
      Rangeview District. Costs of delivering water and providing wastewater services to customers are recognized as incurred.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd2d7913b3c224da7990ebb24a4b542a4">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><u>Water and wastewater tap fees/Special Facility funding</u> &#8211; The Company recognizes water and wastewater tap fees as revenue at the time the Company grants a right for the customer to tap into the water or wastewater service line to
              obtain service. Water tap fees recognized are based on the amounts billed by the Rangeview District and any amounts paid to third parties pursuant to the CAA as further described in Note 4 &#8211; <font style="font-style: italic;">Long-Term
                Obligations and Operating Lease</font> &#8211; <font style="font-style: italic;">Participating Interests</font>&#160;<font style="font-style: italic;">in Export Water Supply</font> below. The Company recognized $852,800 and $929,400 of water tap fee
              revenues during the three months ended May 31, 2020 and 2019, respectively, and $3.2 million and $1.5 million of water tap revenues during the nine months ended May 31, 2020 and 2019, respectively. The Company recognized $152,100 and $153,800
              of wastewater tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $602,900 and $256,300 of wastewater tap fee revenues during the nine months ended May 31, 2020 and 2019, respectively.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">The Company recognizes construction fees, including fees received to construct &#8220;Special Facilities&#8221; (as defined <font style="background-color: #FFFFFF; color: #000000;">under &#8220;</font><font style="background-color: #FFFFFF; font-style: italic; color: #000000;">Critical Accounting Policies &#8211; Revenue Recognition &#8211; Wholesale Water and Wastewater Fees</font><font style="background-color: #FFFFFF; color: #000000;">&#8221; </font>below), over
      time as the construction is completed because the customer is generally able to use the property improvement to enhance the value of other assets during the construction period. Special Facilities are facilities that enable water to be delivered to a
      single customer and are not otherwise classified as a typical wholesale facility or retail facility. Temporary infrastructure required prior to construction of permanent water and wastewater systems or transmission pipelines to transfer water from
      one location to another are examples of Special Facilities. Management has determined that Special Facilities are separate and distinct performance obligations because these projects are contracted to construct a specific water and wastewater system
      or transmission pipeline and typically do not include multiple performance obligations in a contract with a customer. No Special Facilities revenue has been recognized during the three or nine months ended May 31, 2020 or 2019.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za947264fcf5a4f848b68b8e0de6b76ae">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top;">(iii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><u>Consulting fees</u> &#8211; The Company recognizes consulting fees as revenues typically on a monthly basis. The Company earns these fees from municipalities and area water providers along the I-70 corridor, for which the Company provides
              contract operations services over time as services are consumed. Consulting fees are recognized monthly based on a flat monthly fee plus charges for additional work performed, if applicable. The Company recognized $13,800 and $37,900 of
              consulting fees during the three months ended May 31, 2020 and 2019, respectively, and $104,000 and $148,200 of consulting fees during the nine months ended May 31, 2020 and 2019, respectively.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-style: italic; font-weight: bold;">Land Development Activities</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company generates revenues through the sale of finished lots at its Sky Ranch development primarily from four sources of revenues, which are described in detail below:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6db34edf845245e983d4107eb40009c0">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><u>Sale of finished lots</u> &#8211; The Company acquired approximately 930 acres of land zoned as a Master Planned Community known as Sky Ranch along the I-70 corridor east of Denver, Colorado. The Company has entered into purchase and sale
              agreements with three separate home builders pursuant to which the Company agreed to sell, and each builder agreed to purchase, residential lots at Sky Ranch. The Company began construction of lots in March 2018 and segments its reporting of
              the activity relating to the costs and revenues from the construction and sale of lots at Sky Ranch.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">The Company sells lots at Sky Ranch pursuant to distinct agreements with each home builder. These agreements follow one of two formats. One format is the sale of a finished lot, whereby the purchaser
      pays for a ready-to-build finished lot and the sales price is paid in a lump-sum upon completion of the finished lot that is permit ready. The Company recognizes revenues at the point in time of the closing of the sale of a finished lot in which
      control transfers to the builder as the transaction cycle is complete and the Company has no further obligations for the lot. During the three months ended May 31, 2020, the Company received no payments and recognized no revenue from its agreement
      for the sale of ready-to-build finished lots. During the nine months ended May 31, 2020, the Company received payment and recognized revenue of $2,836,700 from one home builder in exchange for the delivery of 41 finished lots. <font style="background-color: #FFFFFF; color: #000000;">During the three months ended May 31, 2019, the Company received payment and recognized revenue of $1,770,000 from one home builder in exchange for the delivery of 25 finished lots. During the nine
        months ended May 31, 2019, the Company received payment and recognized revenue of $2,070,000 from one home builder in exchange for the delivery of 29 finished lots.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">The second format is the sale of finished lots pursuant to a lot development agreement with builders, whereby the Company receives payments in stages that include (i) payment upon the delivery of
      platted lots (which requires the Company to deliver deeded title to individual lots), (ii) a second payment upon the completion of certain infrastructure milestones, and (iii) final payment upon the delivery of the finished lot. Ownership and control
      of the platted lots pass to the builders once the Company closes the sale of the platted lots. Because the builder (i.e., the customer) takes control of the lot at the first closing and subsequent improvements made by the Company improve the
      builder&#8217;s lot as construction progresses, the Company accounts for revenue over time with progress measured based upon costs incurred to date compared to total expected costs.&#160; Any revenue in excess of amounts entitled to be billed is reflected on
      the balance sheet as a contract asset, and amounts received in excess of revenue recognized are recorded as deferred revenue. As of May 31, 2020, the Company had received cumulative payments of approximately $21 million under development agreements
      relating to the sale of 293 lots from two home builders, of which approximately $18.6 million of revenue was recognized over time based on the costs incurred to date compared to total expected costs for full completion of the 293 lots. During the
      three months ended May 31, 2020 and 2019, the Company recognized $696,200 and $938,100 of lot sales over time, respectively. For the nine months ended May 31, 2020 and 2019, the Company recognized $8,666,800 and $3,965,700 of lot sales over time,
      respectively. The Company had deferred revenue related to lot sales of $2,526,200 as of May 31, 2020. The Company does not have any material significant payment terms as all payments are expected to be received within 12 months after the delivery of
      each platted lot. The Company adopted the practical expedient for financing components and does not need to account for a financing component of these lot sales as the delivery of lot sales is expected to occur within one year or less.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf2114e088dae4a9a94a67cb9d340e28a">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><u>Reimbursable Costs for Public Improvements</u> &#8211; The CAB is required to construct certain public improvements, such as water distribution systems, sewer collection systems, storm water systems, drainage improvements, roads, curbs,
              sidewalks, landscaping and parks, the costs of which may qualify as reimbursable costs. Pursuant to its agreements with the CAB (see Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>), the Company is obligated to
              finance this infrastructure. These public improvements are constructed pursuant to design standards specified by the Sky Ranch Districts and/or the CAB, and, after inspection and acceptance, are turned over to the applicable governmental
              entity to operate and maintain. As these public improvements are owned and operated on behalf of a governmental entity, they may qualify for reimbursement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">Pursuant to the agreements with the CAB, the CAB is not required to make payments to the Company for any advances made by the Company or expenses incurred related to construction of public
      improvements unless and until the CAB and/or the Sky Ranch Districts issue bonds in an amount sufficient to reimburse the Company for all or a portion of the advances made and expenses incurred. Because the timing of the issuance and approval of any
      bonds is subject to considerable uncertainty, any potential reimbursable costs for the construction of public improvements, including construction support activities and project management fees, are initially capitalized in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories. </font>If the bonds have not been approved and issued prior to the sale of the lots serviced by the public improvements, the costs are expensed through <font style="font-style: italic;">Land development construction costs</font> when the lots are sold consistent with other construction related costs. If bonds ultimately are issued, upon receipt of reimbursements by the Company, the Company records the
      reimbursements received as <font style="font-style: italic;">Other income </font>to the extent that costs have previously been expensed and reduces <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>
      by any remaining reimbursables received. The Company submits specific costs for reimbursement to the CAB.<font style="font-style: italic;">&#160;</font>If reimbursable costs received exceed actual expenses incurred by the Company for the cost of the
      public improvements, they are recorded as <font style="font-style: italic;">other income </font>as received.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">All amounts owed under the &#8220;2018 FFAA&#8221; (as defined in Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>) bear interest at a rate of 6% per annum. Due to the uncertainty of
      collecting the interest (because payment is contingent on the issuance of bonds), interest income is not recognized on the amounts owed by the CAB until the bonds are issued. To date, the Company has deferred the recognition of $1,052,900 of interest
      income on advances made to the CAB.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">On November 19, 2019, the CAB sold tax-exempt, fixed rate senior bonds in the aggregate principal amount of $11,435,000 and tax-exempt, fixed-rate subordinate bonds in the aggregate principal amount
      of $1,765,000 (collectively, the &#8220;Bonds&#8221;). Upon the issuance of the Bonds, the Company received $10.5 million as partial reimbursement for advances the Company made to the CAB pursuant to the 2018 FFAA to fund the construction of public improvements
      to the Sky Ranch property. Of the $10.5 million received by the Company, $6.3 million was recognized as <font style="font-style: italic;">Income from reimbursement of construction costs (related party)</font> in other income and the remaining $4.2
      million partially reduced the remaining capitalized costs in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>. As a result of the reimbursed costs, the margin from land development
      revenues is expected to increase to approximately 27%.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z541320333fc2426e9f4fe97c27873356">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top;">(iii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><u>Project management services</u> &#8211; On May 2, 2018, the Company entered into two Service Agreements for Project Management Services (the &#8220;Project Management Agreements&#8221;) with the CAB. Pursuant to the Project Management Agreements, the
              Company acts as the project manager and provides any and all services required to deliver the CAB-eligible improvements, including but not limited to CAB compliance; planning design and approvals; project administration; contractor
              agreements; and construction management and administration. The Company must submit to the CAB a monthly invoice, in a form acceptable to the CAB, detailing all project management activities during the period. The Company is responsible for
              all expenses it incurs in the performance of the Project Management Agreements and is not entitled to any reimbursement or compensation except as set forth in the Project Management Agreements, unless otherwise approved in advance by the CAB
              in writing. The CAB is subject to annual budget and appropriation procedures and does not intend to create a multiple-fiscal year direct or indirect debt or other financial obligation. The Company receives a project management fee of five
              percent (5%) of actual construction costs of CAB-eligible improvements. The project management fee qualifies as a reimbursable cost to the Company. The project management fee is based only on the actual costs of the improvements; thus, items
              such as fees, permits, review fees, consultant or other soft costs, and land acquisition or any other costs that are not directly related to the cost of construction of CAB-eligible improvements are not included in the calculation of the
              project management fee. Soft costs and other costs that are not directly related to the construction of CAB-eligible improvements are included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>
              and accounted for in the same manner as construction support activities as described below. Per the Project Management Agreements, no payment is required by the CAB with respect to project management fees unless and until the CAB and/or the
              Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables. Due to this contingency, the project management fees
              are being accrued to revenue with a corresponding allowance until the point in time when bonds are issued by the Sky Ranch Districts and/or the CAB and the CAB reimburses the Company for the public improvements. At that point, the portion of
              the project management fees repaid will be recognized as revenue. To date, the Company has accrued $1,371,600<font style="font-weight: bold;">&#160;</font>in project management services to the CAB.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z5da1d7bdaaa94643b993430b07cd3ec5" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 18pt;">&#160;</td>
            <td style="vertical-align: top; width: 18pt;">
              <div style="text-align: justify;">(iv)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;"><u>Construction support activities</u> &#8211; The Company performs certain construction activities at Sky Ranch. The activities performed include construction and maintenance of the grading erosion and sediment
                control best management practices and other construction-related services. These activities are invoiced upon completion and are included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>
                and subsequently expensed through <font style="font-style: italic;">Land development construction costs</font> unless or until bonds are issued by the Sky Ranch Districts (as defined in Note 6 &#8211; <font style="font-style: italic;">Related
                  Party Transactions</font>) and/or the CAB and the CAB reimburses the Company for public improvements. Refer to section (ii) <font style="font-style: italic;">Reimbursable Costs for Public Improvements</font> for details on repayment of
                reimbursable costs. To date, the Company has invoiced the CAB $581,100 for construction support activities, which amount is included in <font style="font-style: italic;">Land development inventories</font>.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">Unpaid reimbursable costs the Company believes are recoverable from the CAB pursuant to the 2018 FFAA, are recorded to a Note Receivable from the CAB. Each reporting period, the Company performs an
      analysis on the collectability of the receivable from the CAB and the recoverability of the outstanding reimbursable costs to determine if the amounts should be expensed. The following table summarizes all reimbursable costs incurred to date,
      payments made from the CAB and any outstanding reimbursable amounts</div>
    <div><br>
    </div>
    <div style="margin-left: 36pt;">
      <table cellspacing="0" cellpadding="0" border="0" align="" id="z6e6b32a5e7274c32ab672aa3a57da8a4" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

          <tr>
            <td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="10" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">As of May 31, 2020</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
            <td nowrap="nowrap" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
              <div>Costs incurred to date</div>
            </td>
            <td nowrap="nowrap" colspan="1" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td>
            <td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td>
            <td nowrap="nowrap" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
              <div>Payments repaid by</div>
              <div>CAB</div>
            </td>
            <td nowrap="nowrap" colspan="1" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td>
            <td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td>
            <td nowrap="nowrap" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
              <div>Net costs incurred to date</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Public Improvements</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div>25,431,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div>10,505,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div>14,926,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accrued interest</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div>1,052,900</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div>1,052,900</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Project management services</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div>1,371,600</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div>1,371,600</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Construction support activities</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>581,100</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>581,100</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 54%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Total reimbursable costs</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div>28,437,100</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div>10,505,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div>17,932,100</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">The Company expects to incur an additional $3.5 million through the end of the calendar year 2020 for construction costs related to public improvements to complete its initial 506 lots and expects to
      be reimbursed an additional $21.6 million. Pursuant to the Company's agreements with the CAB, no payment is required by the CAB with respect to reimbursable costs unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal
      bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company evaluated disaggregation of revenue and has determined that no additional disaggregation of revenue is necessary.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Contract asset by segment is as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company did not have a contract asset at May 31, 2020 and 2019 or August 31, 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Changes in contract asset were as follows:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze6b1950c80544f7c8d1654eec9c70011" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">August 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of land development revenue contract asset</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,020,146</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development contract asset invoiced</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>(1,020,146</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Deferred revenue by segment is as follows:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z3fd4bb671f874a37a8925080d8e47a01" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">August 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development activities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2,526,155</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>3,991,535</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Oil and gas leases and water sales payment</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>2,467,649</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>1,067,348</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>4,993,804</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>5,058,883</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">The current portion of deferred revenue for oil and gas leases and water sales payment as of May 31, 2020 and August 31, 2019,&#160; is $2,254,830 and $706,464, respectively. There were no water segment deferred revenues as
      of May 31, 2019 and August 31, 2019.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">Changes in deferred revenue were as follows:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z98990e44090641a89fa6dac685a17408" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">August 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>5,058,883</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>477,161</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Deferral of revenue</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>15,949,872</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>24,998,964</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of unearned revenue</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>(16,014,951</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>(20,417,242</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>4,993,804</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>5,058,883</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">The recognition of unearned revenue was $11,503,523 and $11,955,989 from land development activities and $4,511,428 and $8,461,253 from oil and gas leases and water sales payments for the nine months ended May 31, 2020
      and August 31, 2019, respectively.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (&#8220;contracted not recognized revenue&#8221;), which includes unearned revenue and amounts that will be
      invoiced and recognized as revenue in future periods. At May 31, 2020, the Company had outstanding open contracts for $12,957,000, which primarily relate to the 115 lots of the initial 506 lots at Sky Ranch that remain unsold. The Company expects to
      recognize approximately 98% of such revenue over the next 12 months.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Land Development Inventories</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Land development inventories primarily include real estate held for development and sale, which the Company has begun developing and are stated at cost. Capitalized lot development costs at Sky Ranch are costs incurred
      to construct required infrastructure to produce finished lots at Sky Ranch that meet the Company&#8217;s capitalization criteria for lot improvements and are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting,
      land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company uses the specific identification method for purposes of accumulating land development costs and allocates costs to each lot to determine the cost
      basis for each lot sale. The Company records all land cost of sales when a lot is completed and sold on a lot-by-lot basis. Costs included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>
      include common area costs that the Company funded through the CAB. The Company expects that such costs will be reimbursable by the CAB. The Company records future reimbursements as a reduction of reimbursable capitalized costs remaining in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> once the CAB has the ability to reimburse the costs (i.e., once the Sky Ranch Districts and/or the CAB has issued bonds).</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company measures land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent comparable sales prices. If
      recent sales prices are not available, the Company will consider several factors, including, but not limited to, current market conditions, nearby recent sales transactions and market analysis studies. If the net realizable value is lower than the
      current carrying value, the land is written down to its net realizable value.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Royalty and Other Obligations</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Revenues from the sale of Export Water are shown gross of royalties payable to the Land Board. Revenues from the sale of water on the Lowry Range are invoiced directly by the Rangeview District, and a percentage of
      such collections are then paid to the Company by the Rangeview District. Water revenue from such sales are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Oil and Gas Lease Payments</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">As described in Note 2 &#8211; <font style="font-style: italic;">Summary of Significant Accounting Policies</font> in Part II, Item 8 of the 2019 Annual Report, the Company entered into a Paid-Up Oil and Gas Lease (the &#8220;Sky
      Ranch O&amp;G Lease&#8221;) and a Surface Use and Damage Agreement that were subsequently purchased by a wholly owned subsidiary of ConocoPhillips Company and recently acquired by Crestone Peak Resources. Six wells have been drilled within the Company&#8217;s
      mineral interest and placed into service (four new wells beginning in fiscal 2020) and are producing oil and gas and accruing royalties to the Company. During the three months ended May 31, 2020 and 2019, the Company received $74,100 and $37,300 net
      of taxes, respectively, in royalties attributable to these wells. During the nine months ended May 31, 2020 and 2019, the Company received $612,700 and $113,100 net of taxes, respectively, in royalties attributable to these wells. The Company
      classifies income from oil and gas lease and royalty payments as <font style="font-style: italic;">Other income</font> in the statement of operations and comprehensive income as the Company does not consider these arrangements to be a primary
      operating business activity.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Deferred Revenue</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">In July 2019, the Company received an up-front payment of $573,700 from an Agreement on Locations of Oil and Gas Operations&#160; (the &#8220;OGOA&#8221;) for a pad site covering approximately 16 acres with the operator of the Sky
      Ranch O&amp;G Lease, which will be recognized as income on a straight-line basis over three years. If after three years the operator has not spud at least one well on the OGOA, the operator may extend the right to the OGOA one additional year by
      paying the Company $75,000. The operator may only extend the OGOA for two additional years for a total of five years. The Company recognizes the up-front payments on a straight-line basis over the terms of the respective agreements. During the three
      and nine months ended May 31, 2020, the Company recognized $47,800 and $143,400 of income, respectively, related to the up-front payments received pursuant to the OGOA. No revenue was recognized for the three or nine months ended May 31, 2019 related
      to the up-front payments received pursuant to the OGOA. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $404,000 and $547,500, respectively, related to the OGOA.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In September 2017, the Company entered into a Paid-Up Oil and Gas Lease with Bison Oil and Gas, LLP (the &#8220;Bison Lease&#8221;). Pursuant to the Bison Lease, the Company received an up-front payment of $167,200 in October
      2017, which will be recognized as income on a straight-line basis over the three year term of the lease. The Company recognized lease income of $13,900 during the three months ended May 31, 2020 and 2019 related to the up-front payment received
      pursuant to the Bison Lease. The Company recognized lease income of $41,800 during the nine months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. As of May 31, 2020 and August 31, 2019, the Company
      had deferred revenue of $18,600 and $60,400, respectively, related to the Bison Lease that will be recognized as income ratably through September 2020.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">As of May 31, 2020, the Company has also billed and received payments of $2.0 million from one of its industrial water customers to reserve first priority water for O&amp;G operations for defined periods through
      December 2020. As the customer uses the forecasted volumes each month, the Company will recognize revenue based on the volumes used. The customer may take such volumes up to one year from invoice date. If the customer does not take the forecasted
      volumes in the anticipated period, such volumes are forfeited by the customer. At that time, any payments received for unused volumes will be recognized as revenue. As of May 31, 2020, the Company had deferred revenue of $2.0 million as a result of
      these advanced water purchase payments.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Long-Lived Assets</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is
      measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the eventual use of the asset. If such assets are considered impaired, the impairment to be recognized is measured by the
      amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Costs to construct water and wastewater systems that meet the Company&#8217;s capitalization criteria are capitalized as incurred, including any interest, and depreciated on a straight-line basis over their estimated useful
      lives of up to 30 years. The Company capitalizes design and construction costs related to construction activities, and it capitalizes certain legal, engineering and permitting costs relating to the adjudication and improvement of its water assets.
      The Company depletes its groundwater assets that are being utilized on the basis of units produced (i.e., thousands of gallons sold) divided by the total volume of water adjudicated in the water decrees.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Share-Based Compensation</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company maintains an equity incentive plan for the benefit of its employees and non-employee directors. The Company records share-based compensation costs as expense over the applicable vesting period of the stock
      award using the straight-line method. The compensation costs to be expensed are measured at the grant date based on the fair value of the award. The Company has adopted the alternative transition method for calculating the tax effects of share-based
      compensation, which allows for a simplified method of calculating the tax effects of employee share-based compensation. The impact on the income tax provision for the granting and exercise of stock options during the three and nine months ended May
      31, 2020 was a deferred tax benefit of $18,700 and a deferred tax benefit of $39,000, respectively. Because the Company had a full valuation allowance on its deferred tax assets as of November 30, 2018, there was no effect on the tax provision during
      the period. The Company recognized $81,900 of share-based compensation expense and $96,100 of share-based compensation expense during the three months ended May 31, 2020 and 2019, respectively. The Company recognized $435,100 of share-based
      compensation expense, which included unrestricted stock grants, and $257,800 of share-based compensation expense during the nine months ended May 31, 2020 and 2019, respectively.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Income Taxes</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company uses a &#8220;more-likely-than-not&#8221; threshold for the recognition and de-recognition of tax positions, including any potential interest and penalties relating to tax positions taken by the Company. The Company
      did not have any significant unrecognized tax benefits as of May 31, 2020.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">As a result of H.R.1, commonly known as the Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;), signed into law on December 22, 2017, the Company has a $282,000 alternative minimum tax (&#8220;AMT&#8221;) deferred tax asset for which it did
      not have a valuation allowance as of May 31, 2020 and August 31, 2019.&#160; The Company expects to receive the AMT as a refund in future years.&#160; Most, if not all, of this credit will be refundable with the filing of the 2018 (fiscal year ended 2019)
      through 2019 (fiscal year ending 2020) tax returns, subject to limitations of Internal Revenue Code Section 382 (arises with ownership changes) and the sequestration limitation of the Balanced Budget Act of 1997.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">The Company&#8217;s effective tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020, respectively. The effective tax rate was 0% for the three and nine months ended May 31, 2019 due to
      the valuation allowance the Company maintained on its net deferred tax asset.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company records deferred tax assets and liabilities for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying
      consolidated balance sheets, as well as operating loss and tax credit carry-forwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to be applied to taxable income in the years in which those temporary
      differences are expected to be recovered or settled.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">The Company maintained a valuation allowance on the net deferred tax asset other than AMT credits as of May 31, 2019, as the Company had determined it was more likely than not that the Company would not
      realize its deferred tax assets as of May 31, 2019. Such assets primarily consisted of operating loss carryforwards. The Company assessed the realizability of its deferred tax asset using all available evidence. In particular, the Company considered
      both historical results and projections of profitability for the reasonably foreseeable future periods. The Company is required to reassess its conclusions regarding the realization of its deferred tax assets at each financial reporting date. As a
      result of the evaluation, the Company concluded that all of the valuation allowance was no longer necessary as of August 31, 2019 and released the valuation allowance.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company files income tax returns with the Internal Revenue Service and the State of Colorado. The tax years that remain subject to examination are fiscal year 2015 through fiscal year 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company&#8217;s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. At May 31, 2020, the Company did not have any accrued interest or penalties
      associated with any unrecognized tax benefits, nor was any interest expense recognized during the nine months ended May 31, 2020 and 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Earnings per Common Share</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Earnings per common share is computed by dividing net income by the weighted average number of shares outstanding during each period presented. For the three months ended May 31, 2020 and 2019, respectively, options to
      acquire common stock of 200,056 and 201,644 common share equivalents were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options of 229,142 and 206,934 common
      share equivalents as of the nine months ended May 31, 2020 and 2019, respectively, were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options aggregating
      180,000 and 0 common share equivalents as of the three and nine months ended May 31, 2020, respectively, have been excluded from the calculation of income per common share as their effect is anti-dilutive. Common stock options aggregating 50,000
      common share equivalents as of the three and nine months ended May 31, 2019, have been excluded from the calculation of income per common share as their effect is anti-dilutive.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Recently Issued Accounting Pronouncements</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company continually assesses new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company&#8217;s financial reporting, the Company
      undertakes a study to determine the consequences of the change to its consolidated financial statements and to ensure that there are proper controls in place to ascertain that the Company&#8217;s consolidated financial statements properly reflect the
      change. New pronouncements assessed by the Company recently are discussed below:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In February 2016, the Financial Accounting Standards Board (the &#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2016-02, <font style="font-style: italic;">Leases (Topic 842). </font>ASU 2016-02<font style="font-style: italic;">&#160;</font>provides guidance on the recognition, measurement, presentation and disclosure of leases. The new standard supersedes the present GAAP standard on leases and requires substantially all leases to be reported on
      the balance sheet as right-of-use assets and lease obligations. This standard is effective for fiscal years beginning after December 15, 2018. The Company adopted the standard effective September 1, 2019, and recorded a right-of-use asset of
      approximately $258,900 and a lease obligation liability of approximately $252,300.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">In June 2016, the FASB issued ASU No. 2016-13, <font style="font-style: italic;">Financial Instruments &#8211; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments </font> (&#8220;ASU 2016-13&#8221;). Among
      other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will now use
      forward-looking information to better inform their credit loss estimates. ASU 2016-13 was set to be effective for public companies on January 1, 2020; however, the FASB delayed the effective date to January 1, 2023 for smaller reporting companies.
      The Company <font style="color: #212529;">continues to monitor economic implications of the COVID-19 pandemic; however, based on current market conditions, we do not expect the impact of ASU 2016-13 to be material upon adoption.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 2 &#8211; FAIR VALUE MEASUREMENTS</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most
      advantageous market. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the
      measurement falls.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Level 1 &#8212; Valuations for assets and liabilities traded in active exchange markets, such as the NASDAQ Stock Market. The Company had no Level 1 assets or liabilities as of May 31, 2020 or August 31, 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Level 2 &#8212; Valuations for assets and liabilities obtained from readily available pricing sources via independent providers for market transactions involving similar assets or liabilities. The Company had zero and one
      Level 2 assets as of May 31, 2020 and August 31, 2019, respectively, which consisted of a short-term certificate of deposit.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Level 3 &#8212; Valuations for assets and liabilities that are derived from other valuation methodologies, including discounted cash flow models and similar techniques, and not based on market exchange, dealer, or
      broker-traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The Company had one Level 3 liability, the contingent portion of the CAA, as of May
      31, 2020 and August 31, 2019. The Company has determined that the contingent portion of the CAA does not have a determinable fair value (see Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease)</font>.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company maintains policies and procedures to value instruments using what management believes to be the best and most relevant data available.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Level 2 Asset &#8211; Investments. </font>The Company&#8217;s investment securities are the Company&#8217;s only financial assets measured at fair value on a recurring basis. The
      fair value of investment securities is based on the values reported by the financial institutions where the funds are held. Investment securities include certificates of deposit and U.S. Treasury debt securities.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company&#8217;s non-financial assets measured at fair value on a non-recurring basis when assessing recoverability consist entirely of its investments in water and water systems and other long-lived assets. See Note 3 &#8211;
      <font style="font-style: italic;">Water and Land Assets </font>below.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">There were no assets or liabilities measured at fair value on a recurring basis as of May 31, 2020.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The following table provides information on the assets and liabilities measured at fair value on a recurring basis as of August 31, 2019:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z25cfcb7491f1404ca9d6ebe847e71704" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="11" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Fair Value Measurement Using:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">
            <div style="text-align: center; font-weight: bold;"><br>
            </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Fair Value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;
            <div style="text-align: center; font-weight: bold;">Cost /</div>
            <div style="text-align: center; font-weight: bold;">Other Value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Quoted Prices in</div>
            <div style="text-align: center; font-weight: bold;">Active Markets</div>
            <div style="text-align: center; font-weight: bold;">for Identical</div>
            <div style="text-align: center; font-weight: bold;">Assets</div>
            <div style="text-align: center; font-weight: bold;">(Level 1)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Significant</div>
            <div style="text-align: center; font-weight: bold;">Other</div>
            <div style="text-align: center; font-weight: bold;">Observable Inputs</div>
            <div style="text-align: center; font-weight: bold;">(Level 2)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;
            <div style="text-align: center; font-weight: bold;">Significant</div>
            <div style="text-align: center; font-weight: bold;">Unobservable</div>
            <div style="text-align: center; font-weight: bold;">Inputs</div>
            <div style="text-align: center; font-weight: bold;">(Level 3)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
            <div style="text-align: center; font-weight: bold;">Unrealized</div>
            <div style="text-align: center; font-weight: bold;">Gains and</div>
            <div style="text-align: center; font-weight: bold;">(Losses)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">U.S. Treasury debt securities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>4,996,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>4,992,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>4,996,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>3,900</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 4px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>4,996,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>4,992,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>4,996,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
            <div>3,900</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company also held a certificate of deposit that is not carried at fair value on the consolidated balance sheets and is classified as a held-to-maturity security. As of May 31, 2020, the carrying amount of
      held-to-maturity securities was $0. As of August 31, 2019, the carrying amount of held-to-maturity securities was $192,800 and is recorded as short-term investments in the accompanying consolidated financial statements.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">15</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 3 &#8211; WATER AND LAND ASSETS</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company&#8217;s water rights and current water and wastewater service agreements are more fully described in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual
      Report. There have been no significant changes to the Company&#8217;s water rights or water and wastewater service agreements during the nine months ended May 31, 2020.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Investment in Water and Water Systems</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company&#8217;s Investments in Water and Water Systems consist of the following costs and accumulated depreciation and depletion at May 31, 2020 and August 31, 2019:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4fabc49162a448b280c768f40004dd89" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">August 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Costs</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
            <div style="text-align: center; font-weight: bold;">Depreciation</div>
            <div style="text-align: center; font-weight: bold;">and Depletion</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Costs</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Accumulated</div>
            <div style="text-align: center; font-weight: bold;">Depreciation</div>
            <div style="text-align: center; font-weight: bold;">and Depletion</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Rangeview Water Supply</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>14,827,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(15,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>14,823,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(14,700</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch water rights and other costs</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>7,486,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(926,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>7,371,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(757,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Fairgrounds water and water system</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2,899,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(1,216,900</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2,899,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(1,151,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Rangeview water system</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>15,905,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(648,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>5,617,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(372,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Water Supply &#8211; Other</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>7,542,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(1,036,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>4,758,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(860,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Wild Pointe service rights</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,631,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(677,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,631,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(489,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch pipeline</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>5,727,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(554,700</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>5,723,700</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(411,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Lost Creek water supply</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>3,372,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>3,324,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Construction in progress</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>1,076,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>8,176,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Totals</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>60,469,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(5,075,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>54,327,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(4,056,900</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net investments in water and water systems</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>55,393,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>50,270,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Capitalized terms in this section not defined herein are defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual Report.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Rangeview water system includes the Sky Ranch water reclamation facility. The Company placed the facility in service during February 2020.</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0); text-align: justify;"><font style="background-color: rgb(255, 255, 255);">Construction in progress primarily consists of additional water facilities at Sky Ranch. The Company anticipates the additional facilities will
        be placed in service during the fourth quarter of fiscal 2020.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Depletion and Depreciation</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company recorded an immaterial amount of depletion charges during the three and nine months ended May 31, 2020 and 2019. The depletion was related entirely to the Rangeview Water Supply.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company recorded $471,200 and $322,700 of depreciation expense during the three months ended May 31, 2020 and 2019, respectively. These figures include $85,600 and $97,800 of depreciation expense for other
      equipment not included in the table above during the three months ended May 31, 2020 and 2019, respectively.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company recorded $1,253,200 and $812,700 of depreciation expense during the nine months ended May 31, 2020 and 2019, respectively. These figures include $265,900 and $276,200 of depreciation expense for other
      equipment not included in the table above during the nine months ended May 31, 2020 and 2019, respectively.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 4 &#8211; LONG-TERM OBLIGATIONS AND OPERATING LEASE</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Participating Interests in Export Water Supply is an obligation of the Company that has no scheduled maturity date. Therefore, maturity of this liability is not disclosed in tabular format but is described below.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Participating Interests in Export Water Supply</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company acquired its Rangeview Water Supply through various amended agreements entered into in the early 1990s. The acquisition was finalized with the signing of the CAA in 1996. Upon entering into the CAA, the
      Company recorded an initial liability of $11.1 million, which represented the cash the Company received from the participating interest holders that was used to purchase the Company&#8217;s Export Water (described in greater detail in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets </font>in Part II, Item 8 of the 2019 Annual Report). The Company agreed to remit a total of $31.8 million of proceeds received from the sale of Export Water to the participating interest holders
      in return for their initial $11.1 million investment. The obligation for the $11.1 million was recorded as debt, and the remaining $20.7 million contingent liability was not reflected on the Company&#8217;s consolidated balance sheet because the obligation
      to pay this is contingent on the sale of Export Water, the amounts and timing of which are not reasonably determinable.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">The CAA obligation is non-interest bearing, and if the Export Water is not sold, the parties to the CAA have no recourse against the Company. If the Company does not sell the Export Water, the holders of the Series B
      preferred stock of the Company are also not entitled to payment of any dividend and have no contractual recourse against the Company.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">As the proceeds from the sale of Export Water are received and the amounts are remitted to the external CAA holders, the Company allocates a ratable percentage of this payment to the principal portion (the
      Participating Interests in Export Water Supply<font style="font-style: italic;">&#160;</font>liability account), with the balance of the payment being charged to the contingent obligation portion. Because the original recorded liability, which was $11.1
      million, was 35% of the original total liability of $31.8 million, approximately 35% of each payment remitted to the CAA holders is allocated to the recorded liability account. The remaining portion of each payment, or approximately 65%, is allocated
      to the contingent obligation, which is recorded on a net revenue basis.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">From time to time, the Company reacquired various portions of the CAA obligations, which retained their original priority, including the Land Board&#8217;s CAA interest which was assigned and relinquished to the Company in
      2014. The Company did not make any CAA acquisitions during the three and nine months ended May 31, 2020 and 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company is currently allocated 88.105% of the total proceeds from the sale of Export Water after payment of the Land Board royalty. As a result of the acquisitions and consideration from cumulative sales of Export
      Water as detailed in the table below, the remaining potential third-party obligation at May 31, 2020, is less than $1.0 million.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf41b1b1d203b449d88da305af9730dc7" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Export</div>
            <div style="text-align: center; font-weight: bold;">Water</div>
            <div style="text-align: center; font-weight: bold;">Proceeds</div>
            <div style="text-align: center; font-weight: bold;">Received</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Initial Export</div>
            <div style="text-align: center; font-weight: bold;">Water</div>
            <div style="text-align: center; font-weight: bold;">Proceeds to</div>
            <div style="text-align: center; font-weight: bold;">Pure Cycle</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Total</div>
            <div style="text-align: center; font-weight: bold;">Potential</div>
            <div style="text-align: center; font-weight: bold;">Third-Party</div>
            <div style="text-align: center; font-weight: bold;">Obligation</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Participating</div>
            <div style="text-align: center; font-weight: bold;">Interests</div>
            <div style="text-align: center; font-weight: bold;">Liability</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Contingency</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Original balances</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>218,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>31,807,700</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>11,090,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>20,717,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;">Activity from inception until August 31, 2019:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Acquisitions</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>28,042,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(28,042,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(9,790,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(18,252,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Relinquishment</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>2,386,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(2,386,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(832,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(1,554,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Option payments - Sky Ranch and The Hills at Sky Ranch</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>110,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(42,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(68,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(23,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(44,300</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Arapahoe County tap fees</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>533,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(373,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(159,900</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(55,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>(104,100</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Export Water sale payments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>903,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(740,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(163,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(56,700</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
            <div>(106,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance at August 31, 2019</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>1,547,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>29,491,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>987,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>332,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>655,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;">Activity for the nine months ended May 31, 2020:</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Export Water sale payments</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>101,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(89,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(12,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(4,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>(7,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance at May 31, 2020</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>1,648,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>29,402,400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>975,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>328,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>647,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">The CAA includes contractually established priorities which call for payments to CAA holders in order of their priority. This means that the first payees receive their full payment before the next priority level
      receives any payment and so on until full repayment. Of the next approximately $6.4 million of Export Water payouts, which based on current payout levels would occur over several years, the Company will receive approximately $5.6 million of revenue.
      Thereafter, the Company will be entitled to all but $220,000 of the proceeds from the sale of Export Water after deduction of the Land Board royalty.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>WISE Partnership</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company, through the Rangeview District, entered into the Amended and Restated WISE Partnership &#8211; Water Delivery Agreement, dated December 31, 2013 (the &#8220;WISE Partnership Agreement&#8221;), among the City and County of
      Denver acting through its Board of Water Commissioners (&#8220;Denver Water&#8221;), the City of Aurora acting by and through its Utility Enterprise (&#8220;Aurora Water&#8221;), and the South Metro WISE Authority (&#8220;SMWA&#8221;). The SMWA was formed by the Rangeview District and
      nine other governmental or quasi-governmental water providers pursuant to the South Metro WISE Authority Formation and Organizational Intergovernmental Agreement, dated December 31, 2013 (the &#8220;SM IGA&#8221;), to enable the members of SMWA to participate in
      the regional water supply project known as the Water Infrastructure Supply Efficiency partnership (&#8220;WISE&#8221;) created by the WISE Partnership Agreement. The SM IGA specifies each member&#8217;s pro rata share of WISE and the members&#8217; rights and obligations
      with respect to WISE. The WISE Partnership Agreement provides for the purchase of certain infrastructure (i.e., pipelines, water storage facilities, water treatment facilities, and other appurtenant facilities) to deliver water to and among the 10
      members of the SMWA, Denver Water and Aurora Water.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">17</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">Pursuant to the terms of the Rangeview/Pure Cycle WISE Project Financing Agreement (the &#8220;WISE Financing Agreement&#8221;) between the Company and the Rangeview District, the Company has an agreement to fund the Rangeview
      District&#8217;s participation in WISE effective as of December 22, 2014. During the three and nine months ended May 31, 2020, the Company through the Rangeview District, purchased an additional 0 and 400 acre feet of WISE water for $0 and $582,200,
      respectively. The Company&#8217;s cost of funding the Rangeview District&#8217;s purchase of its share of existing infrastructure and future infrastructure for WISE and funding operations and water deliveries related to WISE is projected to be approximately $4.6
      million over the next five years. See further discussion in Note 6 <font style="font-weight: bold;">&#8211;</font><font style="font-style: italic;"> Related Party Transactions.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Lease Commitments</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">Operating lease expense is generally recognized evenly over the term of the lease. </font>Effective as of February 2018, the Company entered into an operating lease for 11,393 square
      feet of office and warehouse space in Watkins, Colorado. The lease has a three-year term with payments of $6,600 per month and an option to extend the primary lease term for a two-year period at a rate equal to a 12.5% increase over the primary base
      payments.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">The Company did not enter into any new leases in the three or nine months ended May 31, 2020. Rent expense consisted of operating lease expense of $21,300 and $63,900 for the three
        and nine months ended May 31, 2020, respectively. There was no sublease rental income for the three or nine months ended May 31, 2020. The Company paid $19,800 and $59,500 against </font><font style="font-style: italic; color: rgb(0, 0, 0);">Lease
        obligations &#8212; operating leases</font><font style="color: rgb(0, 0, 0);"> during the three and nine months ended May 31, 2020, respectively.</font></div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0); text-align: justify;">Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheet. For lease agreements entered into or reassessed in the future, the Company will be required
      to combine the lease and non-lease components in determining the lease liabilities and right-of-use (&#8220;ROU&#8221;) assets.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">The Company&#8217;s lease agreements generally do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at
        lease commencement date for purposes of determining the present value of lease payments. The Company used the incremental borrowing rate of 6% on August 31, 2019, for all leases that commenced prior to that date.</font>&#160;<font style="color: rgb(0, 0, 0);">The Company elected the hindsight practical expedient to determine the lease term for existing leases, which resulted in the lengthening of the lease term related to the Company&#8217;s office lease.</font></div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0); text-align: justify;">ROU lease assets and lease liabilities for the Company&#8217;s operating leases were recorded in the consolidated balance sheet as follows:</div>
    <div><font style="color: #000000;"> </font><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z76fae4cd7f1e4ce1a16adb89bad5c907" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">As of May 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Operating leases - right of use assets</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>213,252</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accounts payable and accrued liabilities</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>70,191</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Lease obligations - operating leases, net of current portion</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>140,318</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total lease liability</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>210,509</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Weighted average remaining lease term (in years)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Weighted average discount rate</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>6.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>%</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 5 &#8211; SHAREHOLDERS&#8217; EQUITY</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company maintains the 2014 Equity Incentive Plan (the &#8220;2014 Equity Plan&#8221;), which was approved by shareholders in January 2014 and became effective on April 12, 2014. Executives, eligible employees, consultants and
      non-employee directors are eligible to receive options and stock grants pursuant to the 2014 Equity Plan. Pursuant to the 2014 Equity Plan, options to purchase shares of stock and stock awards can be granted with exercise prices, vesting conditions
      and other performance criteria determined by the Compensation Committee of the board of directors. The Company has reserved 1.6 million shares of common stock for issuance under the 2014 Equity Plan. The Company began awarding options and stock
      awards under the 2014 Equity Plan in January 2015. Prior to the effective date of the 2014 Equity Plan, the Company granted options and stock awards to eligible participants under its 2004 Incentive Plan (the &#8220;2004 Incentive Plan&#8221;), which expired on
      April 11, 2014. No additional awards may be granted pursuant to the 2004 Incentive Plan; however, awards outstanding as of April 11, 2014, will continue to vest and expire and may be exercised in accordance with the terms of the 2004 Incentive Plan.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">18</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2020:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb6a9e7dabefc42bb9a58005c7d86875b" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Number</div>
            <div style="text-align: center; font-weight: bold;">of Options</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Weighted Average</div>
            <div style="text-align: center; font-weight: bold;">Exercise Price</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Weighted Average</div>
            <div style="text-align: center; font-weight: bold;">Remaining</div>
            <div style="text-align: center; font-weight: bold;">Contractual Term</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Approximate</div>
            <div style="text-align: center; font-weight: bold;">Aggregate</div>
            <div style="text-align: center; font-weight: bold;">Intrinsic Value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Outstanding at August 31, 2019</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>555,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>6.33</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>6.27</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2,527,590</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Granted</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>130,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>10.41</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Exercised</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(15,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>2.67</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Forfeited or expired</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Outstanding at May 31, 2020</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>670,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>7.20</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>6.37</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>2,066,420</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Options exercisable at May 31, 2020</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>490,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>6.07</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>5.42</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>2,023,755</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">On September 25, 2019 and September 27, 2019 there were 80,000 and 50,000 stock options granted to employees and senior management, respectively. The weighted-average grant-date fair value of stock options granted were
      $4.21 and $4.16, respectively. These options vest evenly over three years from the date of the grant and expire no more than ten years from the date of the grant.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On January 15, 2020, the six non-employee Board members were each granted 2,000 unrestricted stock grants. The fair market value of the unrestricted shares for share-based compensation expensing is equal to the closing
      price of the Company's common stock on the date of grant of $12.45. Stock-based compensation expense includes $149,400 of expense related to these unrestricted stock grants for the&#160; nine months ended May 31, 2020. These stock grants were fully
      expensed at the date of the grant because no vesting requirements exist for unrestricted stock grants.&#160; There was no stock-based compensation expense related to unrestricted stock grants for the three months ended May 31, 2020 and 2019 and nine
      months ended May 31, 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as of and for the nine months ended May 31, 2020:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9cbed4f5641347b5b360a1b857d56cf0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Number</div>
            <div style="text-align: center; font-weight: bold;">of Options</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
            <div style="text-align: center; font-weight: bold;">Weighted Average</div>
            <div style="text-align: center; font-weight: bold;">Grant Date</div>
            <div style="text-align: center; font-weight: bold;">Fair Value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Non-vested options outstanding at August 31, 2019</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>152,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>4.03</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Granted</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>130,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
            <div>4.19</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Vested</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>(102,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
            <div>)</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
            <div>3.75</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt;">Forfeited</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">
            <div>&#8212;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Non-vested options outstanding at May 31, 2020</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
            <div>180,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">
            <div>4.31</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">All non-vested options are expected to vest.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Stock-based compensation expense was $81,900 and $96,100 for the three months ended May 31, 2020 and 2019, respectively. Stock-based compensation expense, including unrestricted stock grant expense, was $435,100 and
      $257,800 for the nine months ended May 31, 2020 and 2019, respectively.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">At May 31, 2020, the Company had unrecognized compensation expenses totaling $543,000 relating to non-vested options that are expected to vest. The weighted-average period over which these options are expected to vest
      is approximately two years.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 6 &#8211; RELATED PARTY TRANSACTIONS</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Rangeview District is a quasi-municipal corporation and political subdivision of Colorado formed in 1986 for the purpose of providing water and wastewater service to the Lowry Range and other approved areas. The
      Rangeview District is governed by an elected board of directors. Eligible voters and persons eligible to serve as a director of the Rangeview District must own an interest in property within the boundaries of the Rangeview District. The Company owns
      certain rights and real property interests which encompass the current boundaries of the Rangeview District. Sky Ranch Metropolitan District Nos. 1, 3, 4 and 5 (collectively, the &#8220;Sky Ranch Districts&#8221;) and the CAB are quasi-municipal corporations and
      political subdivisions of Colorado formed for the purpose of providing service to the Company&#8217;s Sky Ranch property. The current members of the board of directors of each of the Rangeview District, the Sky Ranch Districts and the CAB consist of three
      employees of the Company and one independent board member.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>The Rangeview District</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">On December 16, 2009, the Company entered into a Participation Agreement with the Rangeview District, whereby the Company agreed to provide funding to the Rangeview District in connection with the Rangeview District
      joining the South Metro Water Supply Authority (&#8220;SMWSA&#8221;). The Company provides funding pursuant to the Participation Agreement annually with $17,400 and $22,200 being provided during fiscal years 2020 and 2019, respectively.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">19</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">Through the WISE Financing Agreement, the Company agreed to fund the Rangeview District&#8217;s cost of participating in the regional water supply project known as the WISE partnership. During the three months ended February
      29, 2020, the Company, through the Rangeview District, purchased an additional 400 acre feet of WISE water for $582,200. The Company did not purchase any additional water during the three months ended May 31, 2020. The Company anticipates spending an
      additional $4.6 million over the next five fiscal years to fund the Rangeview District&#8217;s purchase of its share of the water transmission line and additional facilities, water and related assets for WISE and to fund operations and water deliveries
      related to WISE. To date, the Company has capitalized the funding provided pursuant to the WISE Financing Agreement because the funding has been provided to purchase capacity in the WISE infrastructure. The Company&#8217;s total investment in the WISE
      assets as of May 31, 2020, is $6.1 million.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In 1995, the Company extended a loan to the Rangeview District. The loan provided for borrowings of up to $250,000, is unsecured, and bears interest based on the prevailing prime rate plus 2% (5.25% at May 31, 2020).
      The maturity date of the loan is December 31, 2020, at which time it will automatically renew for another 12 month term. In January 2014, the Rangeview District and the Company entered into a funding agreement that allows the Company to continue to
      provide funding to the Rangeview District for day-to-day operations and accrue the funding into a note that bears interest at a rate of 8% per annum and remains in full force and effect for so long as the 2014 Amended and Restated Lease Agreement
      remains in effect. $1,031,500 of the balance in <font style="font-style: italic;">Notes receivable - related parties, including accrued interest </font>at May 31, 2020, includes borrowings by the Rangeview District of $590,300 and accrued interest
      of $441,200.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Sky Ranch Community Authority Board</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Pursuant to that certain Community Authority Board Establishment Agreement, as the same may be amended from time to time, Sky Ranch Metropolitan District Nos. 1 and 5 formed the CAB to, among other things, design,
      construct, finance, operate and maintain certain public improvements for the benefit of the property within the boundaries and/or service area of the Sky Ranch Districts. In order for the public improvements to be constructed and/or acquired, it is
      necessary for each Sky Ranch District, directly or through the CAB, to be able to fund the improvements and pay its ongoing operations and maintenance expenses related to the provision of services that benefit the property.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On September 18, 2018, the parties entered into a series of agreements, including a Facilities Funding and Acquisition Agreement (the &#8220;2018 FFAA&#8221;), with an effective date of November 13, 2017, which supersedes and
      consolidates the previous funding agreements between the Company and the CAB and the Company and Sky Ranch Metropolitan District No. 5 pursuant to which</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z25febe5631354c068e2996e44b925b8e">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the CAB agreed to repay the amounts owed by Sky Ranch Metropolitan District No. 5 to the Company, and the previous Facilities Funding and Acquisition Agreement entered into between the Company and Sky Ranch Metropolitan District No. 5 in
              2014 was terminated;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0da2af6100a44de1861f53244d9bc8e0">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>a Project Funding and Reimbursement Agreement and a June 2018 Funding Acquisition Agreement between the CAB and the Company were terminated;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6093a49f190348e8aa707c64638884a3">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the CAB acknowledged all amounts owed to the Company under the terminated agreements, as well as amounts the Company incurred to finance the formation of the CAB; and</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze7e72ca9c6954ed29c62d68eabe69ea5">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Company agreed to fund an agreed upon list of improvements to be constructed by the CAB with an estimated cost of $30,000,000 (including improvements already funded) on an as-needed basis for calendar years 2018&#8211;2023.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">All amounts owed under the 2018 FFAA bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest income is not
      recognized on the amounts owed by the CAB until the bonds are issued. Due to this contingency, interest is deferred until the point in time when bonds are issued. At that point, the accrued interest will be recognized. The CAB agrees to exercise
      reasonable efforts to issue bonds to reimburse the Company subject to certain limitations. In addition, the CAB agrees to utilize any available moneys not otherwise pledged to payment of debt, used for operation and maintenance expenses, or otherwise
      encumbered, to reimburse the Company. Any advances not paid or reimbursed by the CAB by December 31, 2058, shall be deemed forever discharged and satisfied in full.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">As of May 31, 2020, the balance of the Company&#8217;s advances for improvements, excluding interest, net of costs reimbursed in November 2019, to the CAB totaled $14.9 million, of which $1.8 million is included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> and $13.1 million was expensed through <font style="font-style: italic;">Land development construction costs</font>. The advances have been
      used by the CAB to pay for construction of public improvements. The Company submits specific costs for reimbursement to the CAB.&#160; Based on the specific costs being reimbursed by the CAB, the Company records those costs that have been previously
      expensed in cost of sales as other income and those costs that remain capitalized as land development inventory costs as a reduction of the related land development inventory costs held in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories.</font> Any reimbursable costs repaid after all capitalized expenses and lot revenues have been fully recognized are recorded as other income.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Refer to Note 1 &#8211; <font style="font-style: italic;">Presentation of Interim Information - Revenue Recognition - Land Development Activities </font>for a summary of reimbursable costs incurred to date, payments made
      from the CAB and any outstanding reimbursable amounts.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">20</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <div style="text-align: justify;">In September 2018, effective as of November 13, 2017, the Company entered into an Operation Funding Agreement with the CAB obligating the Company to advance funding to the CAB for operation and maintenance expenses for
      the 2018 and 2019 calendar years. All payments are subject to annual appropriations by the CAB in its absolute discretion.&#160; The advances by the Company accrue interest at the rate of 6% per annum from the date of the advance. $28,200 of the balance
      of the <font style="font-style: italic;">Notes receivable &#8211; related parties, including accrued interest</font> at May 31, 2020, includes borrowings by the CAB of $25,500 and accrued interest of $2,700.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 7 &#8211; SIGNIFICANT CUSTOMERS</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic; font-weight: bold;">Water and Wastewater</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="background-color: #FFFFFF; color: #000000;">Pursuant to the Rangeview Water Agreements (defined in Note 4 &#8211; </font><font style="background-color: #FFFFFF; font-style: italic; color: #000000;">Water and
        Land Assets</font><font style="background-color: #FFFFFF; color: #000000;"> in Part II, Item 8 of the 2019 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&#8217;s behalf to the Rangeview District&#8217;s customers. Sales to the Rangeview District accounted for 72% and 6% of the Company&#8217;s total water and wastewater revenues for the three months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;"> respectively. Sales to the Rangeview
        District accounted for 68% and 5% of the Company&#8217;s total water and wastewater revenues for the </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;"> months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively.</font>&#160;<font style="background-color: #FFFFFF; color: #000000;">The Rangeview District has three significant customers, the Ridgeview Youth Services Center (&#8220;Ridgeview&#8221;), Sky Ranch Community Development (&#8220;Sky Ranch&#8221;) and Elbert &amp; Highway 86 Commercial
        District (&#8220;Wild Pointe&#8221;). The Rangeview District&#8217;s significant customers accounted for 21%, 39% and 10%, respectively, of the Company&#8217;s total water and wastewater revenues for the three months ended </font><font style="color: #000000;">May 31,
        2020</font><font style="background-color: #FFFFFF; color: #000000;">, and 2%, 0% and 4%, respectively, for the three months ended May 31, </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">.
        Ridgeview, Sky Ranch and Wild Pointe accounted for 27%, 24% and 13%, respectively, and 3%, 0% and 2%, respectively, for the </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;"> months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Revenues related to the provision of water for the oil and gas industry to one customer accounted for 11% of the Company&#8217;s water and wastewater revenues for the three months ended May 31, 2020. Revenues related to the
      provision of water for the oil and gas industry to one customer represented 93% of the Company&#8217;s water and wastewater revenues for the three months ended May 31, 2019. Revenues related to the provision of water for the oil and gas industry to one
      customer represented approximately 19% of the Company&#8217;s water and wastewater revenues for the nine months ended May 31, 2020. Revenues related to the provision of water for the oil and gas industry to two customers represented 67% and 25%,
      respectively, for the nine months ended May 31, 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic; font-weight: bold;">Land Development</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Revenues from two customers represented 100% of the Company&#8217;s lot sales revenues for the three months ended May 31, 2020. The two customers represented 67% and 33%, respectively, of the Company&#8217;s lot sales revenues for
      the three months ended May 31, 2020. Revenues from three customers represented 100% of the Company&#8217;s lot sales revenues for the three months ended May 31, 2019. The three customers represented 65%, 25% and 10%, respectively, of the Company&#8217;s lot
      sales revenues for the three months ended May 31, 2019.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Revenues from three customers represented 100% of the Company&#8217;s lot sales revenues for the nine months ended May 31, 2020 and May 31, 2019. The three customers represented 61%, 25% and 14%, respectively, of the
      Company&#8217;s land development revenues for the nine months ended May 31, 2020 and 45%, 34% and 21%, respectively, of the Company&#8217;s lot sales revenues for the nine months ended May 31, 2019.</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="font-style: italic; font-weight: bold;">Accounts Receivable</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company had accounts receivable from the Rangeview District which accounted for 76% and 40% of the Company&#8217;s trade receivables balances at May 31, 2020 and August 31, 2019, respectively. The Company had accounts
      receivable from one other customer which accounted for approximately 10% and 57% of its trade receivable balances at May 31, 2020 and August 31, 2019, respectively. Accounts receivable from <font style="background-color: #FFFFFF; color: #000000;">Ridgeview






      </font>accounted for 7% and 5% of the Company&#8217;s water and wastewater trade receivables as of May 31, 2020 and August 31, 2019, respectively. Accounts receivable from <font style="background-color: #FFFFFF; color: #000000;">Wild Pointe</font>
      accounted for 18% and 0% of the Company&#8217;s water and wastewater trade receivables as of May 31, 2020 and August 31, 2019, respectively.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">NOTE 8 &#8211; ACCRUED LIABILITIES</div>
    <div><br>
    </div>
    <div style="text-align: justify;">At May 31, 2020, the Company had accrued liabilities of $1,273,600, of which $70,200 was for current operating lease obligations, $111,100 was for estimated property taxes, $35,100 was for professional fees, and
      $1,057,200 was for operating payables, of which $142,400 is payable to the Rangeview Metropolitan District for water infrastructure capital projects and $487,500 is payable to the CAB for the development of Sky Ranch. The Sky Ranch development costs
      are also included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> or expensed through <font style="font-style: italic;">Land development construction costs</font>.</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">21</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
    </div>
    <!--PROfilePageNumberReset%Num%22%%%-->
    <div>
      <div>
        <div style="text-align: justify;">At August 31, 2019, the Company had accrued liabilities of $3,428,400, of which $460,500 was for accrued compensation, $94,000 was for estimated property taxes, $70,000 was for professional fees and the remaining
          $2,803,900 was related to operating payables, of which $1,399,600 is payable to the CAB for the development of Sky Ranch and $930,900 is payable to the Rangeview District for water infrastructure capital projects. The Sky Ranch development costs
          were also included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> or expensed through <font style="font-style: italic;">Land development construction costs</font>.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">NOTE 9 &#8211; COMMITMENTS AND CONTINGENCIES</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Company has historically been involved in various claims, litigation and other legal proceedings that arise in the ordinary course of its business. The Company records an accrual for a material loss contingency
          when its occurrence is probable and damages can be reasonably estimated based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. The Company makes such estimates based on information known about the
          claims and experience in contesting, litigating and settling similar claims. Disclosures are also provided for reasonably possible losses that could have a material effect on the Company&#8217;s financial position, results of operations or cash flows.
          The Company was not involved in litigation or other legal proceedings and had no contingencies where the risk of material loss was reasonably possible as of May 31, 2020, or August 31, 2019.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">NOTE 10 &#8211; SEGMENT INFORMATION</div>
        <div><br>
        </div>
        <div style="text-align: justify;">An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (the &#8220;CODM&#8221;), or decision-making
          group, to evaluate performance and make operating decisions. The Company has identified its CODM as its Chief Executive Officer.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">During the year 2018, the Company began construction of residential lots at Sky Ranch, which the Company has identified as a segment. Currently, the Company operates its wholesale water and wastewater services and
          land development activities at Sky Ranch as the Company's two operating segments.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The wholesale water and wastewater services business includes providing water service to customers, which water is provided by the Company using water rights owned or controlled by the Company, and developing
          infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">As part of the Company&#8217;s land development activities at Sky Ranch, the Company entered into contracts for the sale of residential lots (see Note 2 &#8211; <font style="font-style: italic;">Summary of Significant
            Accounting Policies </font>in Part II, Item 8 of the 2019 Annual Report). The Company identified land development and lot sales as a separate segment beginning in the fiscal year 2018.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Oil and gas royalties and licenses are a passive activity (i.e. the Company&#8217;s CODM does not evaluate the performance of, or allocate resources specifically to, the oil and gas operations) and not an operating
          business activity and, therefore, are not classified as a segment.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The following table summarizes wholesale water and wastewater services and land development revenue information by segment:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zfc15000581984eae82bd8a65d7f253ab" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;"><br>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="5" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;"><br>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>1,153,951</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>2,476,570</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>4,326,207</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>4,851,961</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
                <div>696,170</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
                <div>2,708,093</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
                <div>11,503,523</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
                <div>6,035,670</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Total revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>1,850,121</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>5,184,663</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>15,829,730</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>10,887,631</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;">The following table summarizes wholesale water and wastewater services and land development pretax income by segment:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z06366ae4a64144298ab007faf07a797f" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>603,158</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>1,802,340</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>2,621,356</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>3,222,922</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>140,390</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>120,021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>7,342,810</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>319,676</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Corporate</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>(707,273</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>(660,990</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>(1,925,548</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>(1,743,280</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
                <div>)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Total pretax income (loss)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>36,275</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>1,261,371</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>8,038,618</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>1,799,318</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;">The following table summarizes total assets by segment.&#160; The assets consist of water rights and water and wastewater systems in the Company&#8217;s wholesale water and wastewater services segment. The assets consist of
          land, land development inventories and deposits in the Company&#8217;s land development segment.&#160; The Company&#8217;s other assets primarily consist of cash and cash equivalents, equipment, mineral rights, related party notes receivables and a deferred tax
          asset.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zed148a8e2aea4ddb8d1ed0217f990c9e" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">August 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>56,244,054</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>51,588,079</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>9,498,852</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>16,866,542</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Corporate</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>22,466,167</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>15,266,783</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Total assets</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>88,209,073</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>83,721,404</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">22</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="font-weight: bold;">NOTE 11 &#8211; INCOME TAXES</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">The Company recorded income tax expense of $8,900 and $0 for the three months ended May 31, 2020 and 2019, respectively, and $1,974,900 and $0 for the nine months ended May 31, 2020 and 2019,
          respectively. The net expense during the three months ended May 31, 2020 consisted of current income tax expense of $20,800 and deferred income tax benefit of ($11,900). The net expense during the nine months ended May 31, 2020 consisted of
          current income tax expense of $1,264,800 and deferred income tax expense of $710,100. The deferred tax expense consists of the usage of the Company's remaining $2.5 million net operating loss carryforwards and payment of deferred compensation in
          the period.</div>
        <div style="text-align: justify;"><br>
        </div>
        <div style="text-align: justify;">The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items. At May 31, 2020 the Company is estimating an annual effective tax rate of
          approximately 25%. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to
          various factors.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The provision for income taxes is recorded at the end of each interim period based on the Company&#8217;s best estimate of its effective income tax rate expected to be applicable for the full fiscal year. The Company&#8217;s
          effective income tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020,&#160; respectively. The Company did not record income tax expense for the three or nine months ended May 31, 2019.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Company paid Federal and State tax installments of $212,300 and $22,000, respectively, during the three months ended May 31, 2020. The Company paid Federal and State tax installments of $1,089,700 and $215,500,
          respectively, during the nine months ended May 31, 2020. No taxes were paid during the three and nine months ended May 31, 2019.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Deferred income taxes reflect the tax effects of net operating loss carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts
          used for income tax purposes. Significant components of the Company&#8217;s deferred tax assets as of May 31, 2020 and August 31, 2019 are as follows:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zf1248172df5541b3a89a7ed5231e6747" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">For the Periods Ended:</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">August 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom;">
                <div style="text-indent: -9pt; margin-left: 9pt;">Deferred tax assets (liabilities):</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Net operating loss carryforwards</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>609,439</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Accrued compensation</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>113,559</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Deferred revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>104,219</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>149,895</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Depreciation and depletion</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(26,120</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(46,408</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Non-qualified stock options</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>449,639</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>410,633</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Other</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
                <div>45,452</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
                <div>46,128</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Net deferred tax asset</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>573,190</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
                <div>1,283,246</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">The Company maintained a valuation allowance on the net deferred tax asset other than AMT credit carryforwards as of August 31, 2018. For the fiscal year ended August 31, 2019, the Company has
          determined it is more likely than not that the Company will realize its deferred tax assets, which consist primarily of net operating loss carryforwards. The Company assessed the realizability of its deferred tax assets using all available
          evidence; considering both historical results and projections of profitability for the reasonably foreseeable future periods. As a result of the Company&#8217;s annual reassessment of its conclusions regarding the realization of its deferred tax assets
          at each financial reporting date, the Company concluded that its deferred tax assets are realizable, and therefore, the valuation allowance is no longer necessary.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">At August 31, 2019, the Company had $2.5 million of net operating loss carryforwards available for income tax purposes. The net operating loss carryforwards expire at various times beginning in 2036 and ending in
          2038 for federal income tax purposes and expire at various times beginning in 2035 and ending in 2036 for state income tax purposes. As of November 30, 2019, the Company used the remaining balance of its net operating loss carryforwards.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">23</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z844d17427efa400bb265347c1329af18">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-weight: bold;"><a name="Item2."><!--Anchor--></a>Item 2.</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">OVERVIEW</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">The discussion and analysis below includes certain forward-looking statements that are subject to risks, uncertainties and other factors, as described in &#8220;Risk Factors&#8221; in our Annual Report on
          Form 10-K&#160; and our Quarterly Report on Form 10-Q for the quarter ended February 29, 2020, that could cause our actual growth, results of operations, performance, financial position and business prospects and opportunities for this fiscal year and
          periods that follow to differ materially from those expressed in or implied by those forward-looking statements. Readers are cautioned that forward-looking statements contained in this Quarterly Report on Form 10-Q should be read in conjunction
          with our disclosure under the heading &#8220;Disclosure Regarding Forward-Looking Statements&#8221; below.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The following Management&#8217;s Discussion and Analysis (&#8220;MD&amp;A&#8221;) is intended to help the reader understand our results of operations and financial condition and should be read in conjunction with the accompanying
          consolidated financial statements and the notes thereto and the financial statements and the notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended August 31, 2019 (the &#8220;2019 Annual Report&#8221;). This section focuses on
          the key indicators reviewed by management in evaluating our financial condition and operating performance, including the following:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3690312971574f9e9d81deac2259038c">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div>Revenue generated from providing water and wastewater services;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4525b75c96964ae68e7b157754536920">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div>Revenue from lot sales at Sky Ranch;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze62f14aadfd041bdb87e4326dae04734">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div>Expenses associated with developing our water and land assets; and</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf5a953ba03f94368b01482f5f9a7fde2">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div>Cash available to continue development of our land, water rights and service agreements.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;">Our MD&amp;A section includes the following items:</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><u>Our Business</u><font style="font-weight: bold; font-style: italic;"> &#8211; </font>a general description of our business, our services and our business strategy.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><u>Results of Operations</u> &#8211; an<font style="font-weight: bold;">&#160;</font>analysis of our results of operations for the periods presented in our consolidated financial statements. We present our discussion in the
          MD&amp;A in conjunction with the accompanying consolidated financial statements.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><u>Liquidity, Capital Resources and Financial Position</u><font style="font-weight: bold; font-style: italic;"> &#8211; </font>an analysis of our cash position and cash flows, as well as a discussion of our financial
          obligations.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><u>Critical Accounting Policies and Use of Estimates</u><font style="font-weight: bold; font-style: italic;"> &#8211; </font>a discussion of our critical accounting policies that require critical judgments, assumptions
          and estimates.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>Our Business</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">Pure Cycle Corporation (&#8220;we,&#8221; &#8220;us,&#8221; or &#8220;our&#8221;) is a Colorado corporation that operates in two business segments: (i) wholesale water and wastewater services, and (ii) land development. We develop wholesale water and
          wastewater systems in the water-short Denver metropolitan area and are developing a Master Planned Community called Sky Ranch on approximately 930 acres of land located along the Interstate 70 corridor (&#8220;I-70&#8221;), approximately four miles south of
          Denver International Airport (&#8220;DIA&#8221;). Sky Ranch includes a mix of 3,200 single-family and multifamily residential units and over 2 million square feet of commercial, retail, and industrial space. The Company has accumulated valuable water and
          land interests over the past 30 years and has developed an extensive network of wholesale water production, storage, treatment and distribution systems, and wastewater collection and treatment systems which serve domestic, commercial and
          industrial customers in the Denver metropolitan region. Our land assets, which include zoning for residential, commercial, retail and light industrial, are located in one of the most active development areas in the Denver metropolitan region
          along I-70.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>Recent Developments</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">As the novel strain of the coronavirus (&#8220;COVID-19&#8221;) escalated, we took measures to protect the health and well-being of our employees, customers, business partners, and their families. We were informed that our
          builder customers also took precautionary measures to ensure the safety of their employees, customers, business partners, and their families.&#160; These measures varied by builder.&#160; As a result, some of our builder customers reported material net
          housing order declines during the period (compared to the same period a year ago). However, they are also reporting material increases in orders since the stay-at-home orders have been reduced. We had been expecting to accelerate deliveries of
          the remaining finished lots at Sky Ranch into fiscal 2020; however, as a result of the COVID-19 precautionary measures and stay-at-home orders, we now expect to deliver the remaining lots by the end of calendar 2020.&#160; These deliveries will still
          be ahead of the original delivery dates set forth in our contracts with the home builders.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">24</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify;">In addition, due to low prices per barrel for crude oil, as a result of lower demand and higher supplies, we saw a significant decrease in the demand for water used for hydraulic fracturing by our industrial
          customers (referred to as &#8220;O&amp;G operations&#8221;).</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Wholesale Water and Wastewater</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Water resources throughout the western United States and more prominently in Colorado are a scarce and valuable resource. We own or control a portfolio of approximately 29,600 acre feet of groundwater and surface
          water supplies, approximately 26,000 acre feet of adjudicated reservoir sites, two wastewater reclamation facilities, water treatment facilities, potable and raw water storage facilities, wells and water production facilities, and nearly 50 miles
          of water distribution and wastewater collection lines. Our water supplies and wholesale facilities are located in southeast Denver, in Arapahoe County, an area which is limited in both water availability and infrastructure to produce, treat,
          store, and distribute water and wastewater, which we believe provides us with a unique competitive advantage offering these services.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We provide wholesale water and wastewater service to local governments, including the Rangeview Metropolitan District (&#8220;Rangeview District&#8221;), Arapahoe County, the Sky Ranch Community Authority Board (the &#8220;CAB&#8221;),
          and the Elbert &amp; Highway 86 Commercial District (&#8220;Wild Pointe&#8221;). Our mission is to provide reliable, high quality water to our customers and collect and treat wastewater using advanced water treatment systems that produce high quality
          reclaimed water that we can reuse for outdoor irrigation and industrial demands. By using and reusing our water supplies, we seek to demonstrate good stewardship over our valuable water rights in the water-scarce Denver, Colorado region. We
          design, permit, construct, operate and maintain wholesale water and wastewater systems that we own or operate and maintain on behalf of governmental entities. We also design, permit, construct, operate and maintain retail distribution and
          collection systems that we own or operate on behalf of our governmental customers. Additionally, we handle administrative functions, including meter reading, billing and collection of monthly water and wastewater fees, regulatory water quality
          monitoring, sampling, testing, and reporting requirements to the Colorado Department of Public Health and Environment.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our wholesale water and wastewater segment generates revenues from three sources: (i) tap fees, which are a one-time charge to home builders or businesses to connect to our water and wastewater systems, (ii) usage
          charges, which are monthly metered water and wastewater fees, and (iii) construction or special facility fees, which are specifically contracted for when necessary. We estimate that our water portfolio can provide service to approximately 60,000
          single family equivalent (&#8220;SFE&#8221;) units. Our current water tap fee is $26,675 per SFE, and our wastewater tap fee is $4,659 per SFE. On average, we generate annual revenue of approximately $1,000 per SFE water connection and $500 per SFE
          wastewater connection. We provide potable water to nearly 547 SFE connections and domestic wastewater services to approximately 285 SFE connections.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We believe that our water resources, land and infrastructure, located in southeastern Denver, are positioned in one of the most attractive development areas of the Denver metropolitan region because this region is
          well positioned for substantial growth over the next 30 years. Growth in the Denver area has trended east with significant activity occurring along the I-70 corridor, an area which enjoys excellent transportation infrastructure with I-70, rail
          access, and DIA. The region has significant employment centers, including DIA, the University of Colorado Anschutz Medical Campus, an Amazon fulfillment center, the Rocky Mountain Regional VA Medical Center, Buckley Airforce Base, and more,
          creating demand for residential, retail, and commercial development opportunities.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Industrial Oil and Gas Operations Deliveries</div>
        <div><br>
        </div>
        <div style="text-align: justify;">In addition to our domestic customers, we provide raw water for O&amp;G operations. Multiple operators lease more than 135,000 acres in and adjacent to our service area with more than 100 wells and miles of oil and
          gas collection lines. Sales of water to industrial customers in the oil and gas industry are unpredictable and fluctuate dramatically. After several years of significant activity throughout our service area, beginning around March of 2020, demand
          for water by the oil and gas industry dropped precipitously due to all-time low oil and gas prices caused by increased production by Saudi Arabia and Russia and decreased demand due to stay-at-home orders resulting from the COVID-19 pandemic.</div>
        <div><br>
        </div>
        <div style="font-weight: bold;">Land Development Activities</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We are actively developing an approximately 930-acre Master Planned Community along the I-70 corridor that is planned to include 3,200 single family and multifamily homes, parks, open spaces, trails, recreational
          centers, schools, and over 2 million square feet of retail, commercial and light industrial space just four miles south of DIA. Our land development activities include the design, permitting, and construction of all of the horizontal
          infrastructure, including, storm water, drainage, roads, curbs, sidewalks, parks, open spaces, trails and other infrastructure to deliver &#8220;ready to build&#8221; finished lots to home builders and commercial customers. We generate revenue from the sale
          of finished lots to our home builder customers as well as from the construction of public improvements on behalf of local governmental entities that reimburse us for such improvements upon the issuance of municipal bonds to fund such
          reimbursements.</div>
        <div> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">25</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify;">Our land development activities provide a strategic complement to our wholesale water and wastewater segment as a significant component of any master planned community is providing high quality domestic water,
          irrigation water, and wastewater service to the community. Having control over land and utility development enables us to efficiently build infrastructure for water, irrigation, wastewater, distribution, collection, storm water, roads, parks,
          open spaces and other investments, and to manage delivery of these investments to match take-down commitments from our home builder customers without significant excess capacity in these investments.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">In June 2017, we entered into contracts with three national home builders (Richmond American Homes, Taylor Morrison, and KB Home) for the sale of 506 single-family, detached residential lots at the Sky Ranch
          property (the &#8220;Builder Contracts&#8221;). Pursuant to the Builder Contracts we are constructing infrastructure and other improvements, such as roads, curbs and gutters, park amenities, sidewalks, street and traffic signs, water and sanitary sewer mains
          and stubs, storm water management facilities, and lot grading improvements for delivery of a specified number of finished lots to each builder. Additionally, we must cause the Rangeview District to install and construct off-site infrastructure
          improvements (i.e., a wastewater reclamation facility and wholesale water facilities) for the provision of water and wastewater service to the property. In conjunction with approvals from Arapahoe County for the Sky Ranch project, we, together
          with the Rangeview District and/or Sky Ranch Metropolitan District Nos. 1, 3, 4 and 5 (collectively, the &#8220;Sky Ranch Districts&#8221;) and/or the CAB, are obligated to maintain a deposit account with Arapahoe County to ensure completion of the off-site
          infrastructure improvements. Approximately $1,000,000 remains on deposit. We have substantially completed all of the off-site infrastructure improvements for the initial 506 residential lots. We have financed the obligations of the Rangeview
          District and the Sky Ranch Districts (through the CAB) as described in Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions </font>to the accompanying consolidated financial statements.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We estimate that the development of the finished lots for the first filing (506 lots) of Sky Ranch will require total capital of $36 million, which includes estimated reimbursable costs of up to $29 million that
          could be reimbursable to us by the CAB from municipal bonds the CAB will try to issue. Per the agreements between us and the CAB, no payments are required by the CAB with respect to reimbursable costs unless and until the CAB and/or the Sky Ranch
          Districts are able to issue municipal bonds in an amount sufficient to reimburse us for all or a portion of advances provided or expenses incurred for reimbursables. As of May 31, 2020, the CAB has reimbursed the Company $10.5 million through the
          sale of municipal bonds. Additional information on the accounting for reimbursable costs can be found in Note 1 &#8211; <font style="font-style: italic;">Presentation of Interim Information</font> to the accompanying consolidated financial statements.
          Lot sales to home builders are expected to generate $37 million in revenues, of which $26 million has been recognized as of May 31, 2020. The costs of developing lots and revenues from the sales of finished lots in the first filing have been and
          are expected to continue to be incurred over several quarters, and the timing of cash flows will include certain milestone deliveries, including, but not limited to, completion of governmental approvals, installation of improvements, and
          completion of lot deliveries.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>Results of Operations</u></div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Executive Summary</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The results of our operations for the three and nine months ended May 31, 2020 and 2019 are as follows:</div>
        <div><br>
        </div>
        <div style="font-style: italic; font-weight: bold;">Table 1a - Summary of Results of Operations</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zb091f73f780749b98900f32dd29e7b26" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">$ Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">% Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Millions of gallons of water delivered</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>12.2</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>96.9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(84.7</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(87</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Municipal water usage revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>97,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>39,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>58,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>147</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Oil and gas water usage revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>15,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>1,308,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>(1,293,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>(99</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Total metered water usage revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>112,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>1,348,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(1,235,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(92</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Operating costs to deliver water (excluding depreciation and depletion)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>94,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>400,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(305,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(76</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Water delivery gross margin %</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>16</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>70</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Wastewater treatment revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>22,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>7,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>15,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>204</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Operating costs to treat wastewater</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>63,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>14,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>48,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>334</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Wastewater treatment gross margin %</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(180</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(96</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Lot sales revenue</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>696,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>2,708,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(2,011,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(74</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div>Land development construction costs incurred</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>555,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>2,588,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(2,032,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(79</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Lot sales gross margin %</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>20</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>4</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Other income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>13,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>37,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(24,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(64</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Other expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>7,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>33,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(26,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(79</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Tap and Special Facility revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>1,004,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>1,083,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(78,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(7</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">General and administrative expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>800,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>665,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>134,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>20</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Net income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>27,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>1,261,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>(1,234,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>(98</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>)%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">26</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="font-style: italic; font-weight: bold;">Table 1b - Summary of Results of Operations</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zff085d81de61425193d2b0fda57a74ca" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">$ Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">% Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Millions of gallons of water delivered</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>32.4</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>232.3</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(199.9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(86</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Municipal water usage revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>238,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>157,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>80,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>51</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Oil and gas water usage revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>71,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>2,717,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>(2,645,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>(97</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Total metered water usage revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>309,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>2,874,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(2,565,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(89</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Operating costs to deliver water (excluding depreciation and depletion)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>556,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>965,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(409,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(42</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Water delivery gross margin %</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(79</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>66</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Wastewater treatment revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>62,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>23,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>38,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>162</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Operating costs to treat wastewater</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>126,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>21,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>104,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>478</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Wastewater treatment gross margin %</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(103</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>8</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Lot sales revenue</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>11,503,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>6,035,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>5,467,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>91</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Land development construction costs incurred</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>10,436,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>5,716,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>4,720,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>83</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Lot sales gross margin %</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>5</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Other income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>104,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>148,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(44,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>(30</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Other expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>34,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>104,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(69,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>(67</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Tap and specialty facility revenues</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>3,849,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>1,805,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>2,044,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>113</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">General and administrative expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>2,638,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>1,864,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>774,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);">
                <div>42</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Net income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>6,063,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>1,799,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>4,264,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div>237</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div>%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Changes in Revenues</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Metered</font><font style="font-weight: bold;">&#160;</font><font style="font-weight: bold; font-style: italic;">Water Usage Revenues &#8211; </font>Our water service
          charges include a fixed monthly fee and a fee based on actual amounts of metered water delivered, which is based on a tiered pricing structure that provides for higher prices as customers use greater amounts of water. We typically negotiate the
          terms of our rates and charges with our wholesale customers as a component of our service agreements prior to commencement of service. Our rates and charges for service on the Lowry Range are based on the average rates and charges of three
          surrounding water providers.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Municipal water usage deliveries increased 86% and water revenues increased 147% during the three months ended May 31, 2020, as compared to the three months ended May 31, 2019. The increase in municipal water usage
          deliveries and revenue relate to the growth from the development at Sky Ranch. Municipal water usage deliveries decreased 8% and water revenues increased 51% during the nine months ended May 31, 2020, as compared to the nine months ended May 31,
          2019.&#160; Municipal water deliveries are lower in the current period due to higher demand in the first quarter of 2019 for water for irrigation purposes. Municipal water revenues are higher during the nine months ending May 31, 2020, due to the
          development at Sky Ranch.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">O&amp;G operations water deliveries decreased 100% and water revenues decreased 99% during the three months ended May 31, 2020, as compared to the three months ended May 31, 2019. O&amp;G operations water
          deliveries decreased 100% and water revenues decreased 97% during the nine months ended May 31, 2020, as compared to the nine months ended May 31, 2019. The decreases in O&amp;G operations water deliveries and revenues are the result of a
          decrease in demand from our industrial customers for water for O&amp;G operations. The demand decreased due to the decision of our largest industrial water customer to shut down operations in the later months of calendar 2019 to pursue the sale
          of its oil and gas leases in the region (which were, in fact, sold), decreased production due to historically low oil prices and changes relating to lower demand due to <font style="background-color: #FFFFFF; color: #212529;">stay-at-home orders
            because of COVID-19 and</font> the oil and gas regulatory environment in the State of Colorado. As a result of the difference in metered rates for water for O&amp;G operations compared to rates for residential customers, revenues received for
          water for O&amp;G operations have a greater margin. Increases and decreases in water deliveries charged at different rates will result in disproportionate increases and decreases in revenues and margins. The following tables detail the sources of
          our sales, the number of &#8220;kgal&#8221; (1,000 gallons) sold, and the average price per kgal for the three and nine months ended May 31, 2020 and 2019, respectively.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">27</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="font-style: italic; font-weight: bold;">Table 2a - Water Revenue Summary</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zf75123922a8f4eef8f289e07dded587f" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="22" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="10" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="10" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
                <div><u>Customer Type</u></div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Sales</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Average </div>
                <div style="text-align: center; font-weight: bold;">price per</div>
                <div style="text-align: center; font-weight: bold;"> kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Sales</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Average </div>
                <div style="text-align: center; font-weight: bold;">price per </div>
                <div style="text-align: center; font-weight: bold;">kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #CCEEFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">On Site</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>36,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>1,702.0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>21.45</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>24,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>1,582.5</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>15.36</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #FFFFFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Export - Commercial</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>9,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>582.8</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>16.99</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>10,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>989.0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>10.31</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #CCEEFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>37,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>5,548.5</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>6.81</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>2,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>304.0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>8.55</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #FFFFFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Wild Pointe</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>13,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>4,371.6</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>3.09</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>2,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>3,980.6</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>0.60</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 2px; background-color: #CCEEFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">O&amp;G operations</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>15,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>1,308,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>90,091.7</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>14.52</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>112,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>12,204.9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>9.23</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>1,348,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>96,947.8</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>13.90</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="font-style: italic; font-weight: bold;">Table 2b - Water Revenue Summary</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zb157309df4924ba88b2f3758ab27586f" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="22" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="10" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="10" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
                <div><u>Customer Type</u></div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Sales</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Average </div>
                <div style="text-align: center; font-weight: bold;">price per </div>
                <div style="text-align: center; font-weight: bold;">kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Sales</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Average </div>
                <div style="text-align: center; font-weight: bold;">price per </div>
                <div style="text-align: center; font-weight: bold;">kgal</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #CCEEFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">On Site</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>102,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>8,416.4</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>12.12</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>113,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>18,402.8</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>6.16</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #FFFFFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Export - Commercial</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>32,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>2,618.8</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>12.22</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>33,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>2,968.2</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>11.19</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #CCEEFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>56,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>6,270.5</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>9.07</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>2,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>304.0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>8.55</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #FFFFFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Wild Pointe</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>47,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>14,159.9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>3.33</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>8,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>13,006.4</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>0.62</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 2px; background-color: #CCEEFF;">
                <div style="text-indent: -7.2pt; margin-left: 7.2pt;">O&amp;G operations</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>71,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>927.9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>77.49</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>2,717,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>197,637.2</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
                <div>13.75</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>309,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>32,393.5</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>9.57</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>2,874,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>232,318.6</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
                <div>12.37</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;">The gross margin on delivering water decreased to 16% and (79%)<font style="font-weight: bold;">&#160;</font>during the three and nine months ended May 31, 2020, respectively, as compared to the gross margins of 71% and
          of 67% during the three and nine months ended May 31, 2019, respectively. The change in our gross margins for the three and nine months ended May 31, 2020, was due to decreased demand for water for O&amp;G operations. This was partially offset by
          lower costs of revenue <font style="background-color: #FFFFFF; color: #000000;">due to a decrease in the amount of high cost &#8220;WISE&#8221; water purchased during the current period due to lower demand. See </font><font style="background-color: #FFFFFF; font-style: italic; color: #000000;">Liquidity, Capital Resources and Financial Position &#8211; South Metropolitan Water Supply Authority (&#8220;SMWSA&#8221;) and Water Infrastructure Supply Efficiency Partnership (&#8220;WISE&#8221;)</font><font style="background-color: #FFFFFF; color: #000000;"> for a description of WISE.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Wastewater Treatment Revenues &#8211; </font>Our wastewater customers are charged based on the estimated amount of wastewater treated, which is estimated by the
          average water delivered in the winter months December through February. Wastewater treatment revenues increased 204% and 162% during the three and nine months ended May 31, 2020, respectively, as compared to the three and nine months ended May
          31, 2019, respectively. The increase for the three and nine months ended May 31, 2020, was primarily due to additional customers from the development at Sky Ranch. The wastewater gross margin decreased to (180%) compared to (96%) during the three
          months ended May 31, 2020 and 2019, respectively, and decreased to (103%) compared to 8% during the nine months ended May 31, 2020 and 2019, respectively. These changes were due to an increase in the number of staff required to maintain the water
          reclamation facility at Sky Ranch development. Such an increase in the number of staff was necessary because we constructed the plant to be able to treat the entire proposed Sky Ranch development and not just the initial filing of 506 homes. We
          anticipate positive margins from wastewater treatment revenues once all 506 houses are occupied, which is expected to occur by the end of fiscal 2022.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Tap and Special Facility/Construction Revenues &#8211; </font><font style="background-color: #FFFFFF; color: #000000;">We have various water and wastewater service
            agreements, a component of which may include tap fee and &#8220;Special Facility&#8221; (as defined under &#8220;Critical Accounting Policies &#8211; Revenue Recognition &#8211; Wholesale Water and Wastewater Fees&#8221; below) or construction fee revenues. For the three months
            ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;">, and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">, we sold 36
            and 36 water and wastewater taps, recognizing revenues of $1,004,900 and $1,083,200, respectively. For the </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;"> months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">, we sold 139 and 60 water and
            wastewater taps, recognizing revenues of $3,849,900, and $1,805,100, respectively. Tap fee revenues for the three and nine months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;">, included $57,100 and $171,200, respectively, from the sale of 3 and 11 water taps, respectively, at Wild Pointe. Tap fee revenues for the three and nine months ended </font><font style="color: #000000;">May 31, 2019</font><font style="background-color: #FFFFFF; color: #000000;">, included $48,900 from the sale of 3 water taps, at Wild Pointe. The remaining water and wastewater taps sold in the three and </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;"> months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;"> were sold to the builders at Sky Ranch. The taps sold at Sky Ranch and Wild Pointe are exempt from royalty payments to the Land Board.</font></div>
        <div style="text-align: justify;"><font style="background-color: #FFFFFF; color: #000000;"> <br>
          </font></div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">28</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify; color: #000000;"><font style="background-color: #FFFFFF;">We did not recognize any Special Facility fees for the three or </font>nine<font style="background-color: #FFFFFF;"> months ended </font>May 31, 2020<font style="background-color: #FFFFFF;"> and </font>2019<font style="background-color: #FFFFFF;">.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Other Income &#8211; </font>Other income of $13,800 and $37,900 for the three months ended May 31, 2020 and 2019, and other income of $104,100 and $148,200 for the
          nine months ended May 31, 2020 and 2019, respectively, consisted principally of consulting fees. Consulting fees fluctuate from one period to the next based on our customers&#8217; needs. <font style="background-color: #FFFFFF; color: #000000;">We are
            reducing our consulting services in order to focus our resources on the water systems at Sky Ranch. We expect consulting fees to be minimal in future periods.</font></div>
        <div style="background-color: #FFFFFF;">
          <div><br>
          </div>
          <div style="text-align: justify;"><font style="background-color: #FFFFFF; font-weight: bold; font-style: italic; color: #000000;">Land Development Revenues</font><font style="background-color: #FFFFFF; font-weight: bold; color: #000000;">&#160;</font><font style="background-color: #FFFFFF; font-weight: bold; font-style: italic; color: #000000;">&#8211;</font><font style="background-color: #FFFFFF; color: #000000;"> We broke ground on our first filing of Sky Ranch in March of 2018, and from that time
              through </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;">, we completed and sold to our home builder customers 391 finished lots and received total payments of $28.0 million. We
              sold 0 and 71 finished lots in the three months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively, and recognized revenues of $696,200 and $2.7 million for the three months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively. We sold 136 and 83 finished lots in the </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;"> months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively, and recognized revenues of $11.5 million and $6.0 million for the </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;">
              months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">
              respectively. Additionally, we have completed improvements (including over lot grading, water, sewer, storm water), off-site improvements (including drainage), and our entry roadway (Monahan Road) for the remaining 115 lots and carry those
              investments, totaling $3.9 million, in </font><font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font><font style="background-color: #FFFFFF; color: #000000;"> in the accompanying
              consolidated financial statements. We are working with each of our home builder customers to deliver the remaining finished lots by the end of calendar year 2020.</font></div>
          <div style="text-align: justify;"><a name="DSPFPAGEBREAKAREA"></a><a name="DSPFPAGENUMBERAREA"></a><a name="DSPFPAGEFOOTER"></a><br>
          </div>
          <div style="text-align: justify; color: #000000;"><font style="background-color: #FFFFFF;">As we make advances to the CAB for expenses incurred related to construction of public improvements, all amounts owed under the 2018 FFAA (as defined in
              Note 6 &#8211; </font><font style="background-color: #FFFFFF; font-style: italic;">Related Party Transactions</font><font style="background-color: #FFFFFF;">)&#160; bear interest at a rate of 6% per annum. No payment is required of the CAB for advances
              made to the CAB or expenses incurred related to construction of public improvements unless and until the CAB and/or Sky Ranch Districts issue bonds in an amount sufficient to reimburse the Company for all or a portion of advances or other
              expenses incurred. Because it is uncertain if bonds will be issued and when we will receive payment, we defer recognition of interest income on the CAB note until the issuance of the bonds is certain. We have deferred accruing $1.1 million of
              potential interest income from the CAB as of </font>May 31, 2020<font style="background-color: #FFFFFF;">.</font></div>
          <div><br>
          </div>
          <div style="text-align: justify; color: #000000;"><font style="background-color: #FFFFFF;">We act as the project manager and provide any and all services required to deliver eligible improvements for the CAB. For these services, we charge a five
              percent (5%) project management fee calculated on actual construction costs of CAB-eligible improvements. No payment is required of the CAB for project management fees unless and until the CAB and/or Sky Ranch Districts issue bonds in an
              amount sufficient to pay the Company for all or a portion of the project management fees. Because it is uncertain if bonds will be issued and when we will receive payment, we defer recognition of project management fee income from the CAB
              until the issuance of the bonds is certain. Once issuance of the bonds and payment to us is certain, the portion of the project management fees repaid will be recognized as revenue. We have deferred recognition of approximately $1.4 million
              in project management services as of </font>May 31, 2020<font style="background-color: #FFFFFF;">.</font></div>
        </div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">General and Administrative Expenses</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Significant balances classified as general and administrative (&#8220;G&amp;A&#8221;) expenses for the three and nine months ended May 31, 2020 and 2019, respectively, were as follows:</div>
        <div><br>
        </div>
        <div style="font-style: italic; font-weight: bold;">Table 3a - Significant Balances in G&amp;A</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="ze8c9385aef9a42fcb2c222584bb53ad9" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">$ Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">% Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom;">
                <div style="text-indent: -9pt; margin-left: 9pt;">Salary and salary-related expenses:</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Including share-based compensation</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>502,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>330,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>171,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>52</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Excluding share-based compensation</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>420,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>234,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>185,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>79</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Professional fees</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>66,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>82,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>(15,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>(19</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Fees paid to directors and corporate D&amp;O insurance</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>38,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>55,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(16,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(30</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 9pt;">Public entity related expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>32,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>24,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>8,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>33</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="font-style: italic; font-weight: bold;">Table 3b - Significant Balances in G&amp;A</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zb2d1fd74a06c4ddb8a741a30a3ee17b1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">$ Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">% Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom;">
                <div style="font-family: &#38;quot; text-indent: -9pt; margin-left: 9pt;">Salary and salary-related expenses:</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
                <div style="text-indent: -9pt; margin-left: 18pt;">Including share-based compensation</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>1,519,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>956,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>562,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>59</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
                <div style="text-indent: -9pt; margin-left: 18pt;">Excluding share-based compensation</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>1,084,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>698,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>385,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>55</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
                <div style="font-family: &#38;quot; text-indent: -9pt; margin-left: 9pt;">Professional fees</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>347,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>254,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>93,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>37</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
                <div style="font-family: &#38;quot; text-indent: -9pt; margin-left: 9pt;">Fees paid to directors and corporate D&amp;O insurance</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>140,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>154,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(14,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
                <div style="font-family: &#38;quot; text-indent: -9pt; margin-left: 9pt;">Public entity related expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>99,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>90,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>8,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>10</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">29</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Salary and salary-related expenses &#8211; </font>Salary and salary-related expenses, including share-based compensation expense, increased 52% and 59%, respectively,
          for the three and nine months ended May 31, 2020, as compared to the three and nine months ended May 31, 2019. The increase for the three months ended May 31, 2020 was due primarily to the addition of three employees. The increase for the nine
          months ended May 31, 2020 was primarily the result of an unrestricted stock grant to the non-employee members of our board of directors and the addition of approximately three employees. The salary and salary-related expenses noted above include
          $81,900 and $96,100 of share-based compensation expenses recognized during the three months ended May 31, 2020 and 2019, respectively, and $435,100 and $257,900 of share-based compensation expenses recognized during the nine months ended May 31,
          2020 and 2019, respectively.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Professional fees (predominantly accounting and legal) &#8211; </font>Professional fees decreased 19% and increased 37% during the three and nine months ended May 31,
          2020, as compared to the three and nine months ended May 31, 2019, respectively. The decrease for the three months ended May 31, 2020 compared to the three months ended May 31, 2019 is due to lower legal fees of approximately $32,100 related to
          business development offset by higher accounting fees of approximately $16,900 related to audit and tax services. The increase in the nine months ended May 31, 2020, as compared to the nine months ended May 31, 2019, was primarily due to <font style="background-color: #FFFFFF; color: #000000;">higher legal and professional fees of approximately $65,200 related to business development and the review of the CAB&#8217;s bond sale documents and</font> higher accounting fees of approximately
          $28,000 related to audit and tax services.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Fees paid to directors and corporate D&amp;O insurance</font>&#160;<font style="font-weight: bold;">&#8211;</font> During the three and nine months ended May 31, 2020,
          directors&#8217; fees (including D&amp;O insurance) decreased 30% and 9%, as compared to the three and nine months ended May 31, 2019, respectively. The lower fees in the current periods are primarily due to the lower board travel expenses for board
          meetings relating to stay-at-home orders because of COVID-19 offset by an increase in the annual D&amp;O insurance premium.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Public entity expenses </font><font style="font-weight: bold;">&#8211;</font> Costs associated with corporate governance and with being a publicly traded entity
          increased 33% and 10% for the three and nine months ended May 31, 2020, respectively, as compared to the three and nine months ended May 31, 2019, respectively. Any fluctuations are due to the timing and number of filings and compliance costs for
          filing with the Securities and Exchange Commission (the &#8220;SEC&#8221;).</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Other Income and Expense Items</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic; font-weight: bold;">Table 4a - Other Items</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z647dd22da26a40f4b4235ace6e0d26fb" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">$ Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">% Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom;">
                <div style="text-indent: -9pt; margin-left: 9pt;">Other income items:</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Reimbursement of construction costs (related party)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Oil and gas lease income, net</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>61,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>13,900</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>47,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>344</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Oil and gas royalty income, net</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>74,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>37,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>36,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>99</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Interest income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>24,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>54,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(29,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(55</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="font-style: italic; font-weight: bold;">Table 4b - Other Items</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z8631d49b27b2494a88d4e0cd819f86ac" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold; text-indent: -7pt;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">$ Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">% Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom;">
                <div style="text-indent: -9pt; margin-left: 9pt;">Other income items:</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Reimbursement of construction costs (related party)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>6,275,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>6,275,500</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Oil and gas lease income, net</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>185,200</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>41,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>143,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>343</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Oil and gas royalty income, net</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>612,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>113,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>499,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>442</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Interest income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>162,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>246,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(84,400</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(34</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Reimbursement of construction costs (related party) </font>&#8211; On November 19, 2019, the CAB sold tax-exempt, fixed rate senior bonds in the aggregate principal
          amount of approximately $11,435,000 and tax-exempt, fixed-rate subordinate bonds in the aggregate principal amount of approximately $1,765,000 (collectively, the &#8220;Bonds&#8221;). Upon the sale of the Bonds approximately $10.5 million of the net proceeds
          from the Bonds were used to partially reimburse us for advances we made to the CAB pursuant to the 2018 FFAA to fund the construction of public improvements to the Sky Ranch property. Approximately $2.7 million of the bond proceeds were retained
          by the CAB in cash in order to pay certain bond issuance costs and repay debt service through 2021, when the CAB expects to generate enough revenue through mill levies to repay bond holders.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">30</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify;">Of the amounts we received, $4.2 million reduced the remaining capitalized expenses in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories </font>and $6.3
          million was recognized as <font style="font-style: italic;">Income from reimbursement of construction costs (related party)</font> in other income for the nine months ending May 31, 2020. No <font style="font-style: italic;">Income from
            reimbursement of construction costs (related party)</font> was recognized during the three months ending May 31, 2020 or during the three and nine months ending May 31, 2019.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Oil and gas lease income </font>&#8211; Of the $61,700 of oil and gas lease payments recognized during the three months ended May 31, 2020, $13,900 represents the
          deferred recognition of the up-front payment of $167,200 that we received in September 2017 in connection with entering into a Paid-Up Oil and Gas Lease with Bison Oil and Gas, LLP (the &#8220;Bison Lease&#8221;), which payment is being recognized in income
          over the three year term of the Bison Lease and $47,800 represents the deferred recognition of the up-front payment of $573,700 that we received in July 2019 for an Agreement on Locations of Oil and Gas Operation (the &#8220;OGOA&#8221;) giving the operator
          of the Sky Ranch O&amp;G Lease (defined below) a right to access 16 acres for an oil and gas pad site for three years through July 2022. During the nine month ended May 31, 2020, we recognized $41,800 and $143,400 of oil and gas lease income
          related to the up-front payment received pursuant to the Bison Lease and to the up-front payment received pursuant to the OGOA, respectively. The $13,900 and $41,800 of oil and gas lease income recognized during the three and nine months ended
          May 31, 2019, respectively, related to the up-front payment received pursuant to the Bison Lease.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Oil and gas royalty income </font>&#8211; In 2011, we entered into a Paid-Up Oil and Gas Lease, which was recently purchased by Crestone Peak Resources, for the
          purpose of exploring for, developing, producing and marketing oil and gas on 634 acres of mineral estate we own at our Sky Ranch property (the &#8220;Sky Ranch O&amp;G Lease&#8221;). The Sky Ranch O&amp;G Lease is held by production through two wells drilled
          in our mineral estate. The oil and gas royalty income represents amounts received pursuant to the Sky Ranch O&amp;G Lease as royalties from oil and gas production from wells in our mineral estate at Sky Ranch. The royalties for the three months
          ended May 31, 2020, were $74,100, as compared to $37,300 for the same period in 2019. The royalties for the nine months ended May 31, 2020 were $612,700, as compared to $113,100 for the same period in 2019. The increase in oil and gas royalties
          for the three and nine months ended May 31, 2020 is a result of the addition of four wells since the prior periods resulting in higher production of oil and gas from wells in our mineral estate at Sky Ranch.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Interest Income </font>&#8211; Interest income represents interest earned on the temporary investment of capital in cash and cash equivalents, available-for-sale
          securities, finance charges, and interest accrued on the notes receivable from the Rangeview District and the Sky Ranch Districts. The decrease was primarily attributable to interest rates on investments and timing of the maturity of the
          investments.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>Liquidity, Capital Resources and Financial Position</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">At May 31, 2020, our working capital, defined as current assets less current liabilities, was $16.7 million, which included $17.1 million in cash and cash equivalents. We believe that as of May 31, 2020, and as of
          the date of the filing of this Quarterly Report on Form 10-Q, we have sufficient working capital to fund our operations for the next 12 months. We have completed most of the work required to complete delivery of the first 506 lots under contract
          at Sky Ranch and are in the permitting process for the next filing at Sky Ranch, so we are not anticipating the need to make significant capital expenditures until such permits are obtained from Arapahoe County, Colorado. Due to staffing
          shortages at Arapahoe County and the likely disruption to their operations caused by COVID-19, permitting is anticipated to take longer than normal.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Sky Ranch Development</div>
        <div><br>
        </div>
        <div style="text-align: justify;">In the spring of fiscal year 2018, we began construction of off-site improvements at Sky Ranch, including drainage improvements, access roads and other improvements. We seek to manage our capital investments in the
          construction of finished lots for our home builder customers to match purchases required by each Builder Contract, for example, by authorizing specific contracts in phases. By way of further example, we have invested approximately $30.5 million
          into constructing the first 391 finished lots at Sky Ranch. We have received approximately $28.0 million from the sale of the finished lots. In addition, on November 19, 2019, the CAB sold the Bonds and used approximately $10.5 million of the net
          proceeds to partially reimburse us for advances we made to the CAB pursuant to the 2018 FFAA to fund the construction of public improvements to the Sky Ranch property. As of May 31, 2020, we have advanced the CAB approximately $15.1 million
          (including interest) that has not been reimbursed but that we expect will be reimbursable by the CAB upon the CAB successfully issuing additional bond offerings.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">ECCV Capacity Operating System</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Pursuant to a 1982 contractual right, the Rangeview District may purchase water produced from East Cherry Creek Valley Water and Sanitation District&#8217;s (&#8220;ECCV&#8221;) Land Board system. ECCV&#8217;s Land Board system is
          comprised of eight wells and more than 10 miles of buried water pipeline located on the Lowry Range. In May 2012, we entered into an agreement to operate and maintain the ECCV facilities, allowing us to utilize the system to provide water to
          commercial and industrial customers, including customers providing water for drilling and hydraulic fracturing of oil and gas wells. Our costs associated with the use of the ECCV system are a flat fee of $8,000 per month from January 1, 2013
          through December 31, 2020, and will decrease to $3,000 per month from January 1, 2021 through April 2032. Additionally, we pay a fee per 1,000 gallons of water produced from the ECCV&#8217;s system, which is included in the water usage fees charged to
          customers. In addition, the ECCV system cost us $12,500 and $23,500 per month to maintain in 2020 and 2019, respectively, and is anticipated to continue to cost us approximately $10,000 per month to maintain.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">31</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify; font-weight: bold;">South Metropolitan Water Supply Authority (&#8220;SMWSA&#8221;) and the Water Infrastructure Supply Efficiency Partnership (&#8220;WISE&#8221;)</div>
        <div><br>
        </div>
        <div style="text-align: justify;">SMWSA is a municipal water authority in the State of Colorado organized to pursue the acquisition and development of new water supplies on behalf of its members, including the Rangeview District. Pursuant to
          certain agreements with the Rangeview District, we agreed to provide funding to the Rangeview District in connection with its membership in the SMWSA. In July 2013, the Rangeview District, together with nine other SMWSA members, formed an entity
          to enable its members to participle in a cooperative water project known as WISE and entered into an agreement that specifies each member&#8217;s pro rata share of WISE and the members&#8217; rights and obligations with respect to WISE. On December 31, 2013,
          the South Metro WISE Authority (&#8220;SMWA&#8221;), the City and County of Denver acting through its Board of Water Commissioners (&#8220;Denver Water&#8221;) and the City of Aurora acting by and through its Utility Enterprise (&#8220;Aurora Water&#8221;) entered into the Amended
          and Restated WISE Partnership &#8211; Water Delivery Agreement (the &#8220;WISE Partnership Agreement&#8221;), which provides for the purchase of certain infrastructure (pipelines, water storage facilities, water treatment facilities, and other appurtenant
          facilities) to deliver water to and among Rangeview District and the other nine members of the SMWA, Denver Water and Aurora Water. We have entered into a financing agreement that obligates us to fund the Rangeview District&#8217;s cost of
          participating in WISE. We anticipate that we will be investing an additional approximately $0.4 million in 2020 and $4.2 million in total for the fiscal years 2021 through 2024 to fund the Rangeview District&#8217;s obligation to purchase
          infrastructure for WISE, its obligations related to SMWSA, and the construction of a connection to the WISE system. In exchange for funding the Rangeview District&#8217;s obligations in WISE, we will have the sole right to use and reuse the Rangeview
          District&#8217;s 7% share of the WISE water and infrastructure to provide water service to the Rangeview District&#8217;s customers and to receive the revenue from such service. Our current WISE subscription entitles us to approximately three million gallons
          per day of transmission pipeline capacity and 900 acre feet per year of water. During the three months ended February 29, 2020, we purchased an additional 400 acre feet of WISE for $582,200 to bring our total subscription to 900 acre feet. The
          additional acre feet of water is not anticipated to have a material impact on the expenses we project to incur over the next several years.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Summary Cash Flows Table</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic; font-weight: bold;">Table 5 - Summary Cash Flows Table</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z7af31700ea2443738b2badb76183d21d" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="7" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="7" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;"> May 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">May 31, 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">$ Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
                <div style="text-align: center; font-weight: bold;">% Change</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom;">
                <div style="text-indent: -9pt; margin-left: 9pt;">Cash provided (used) by:</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="3" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Operating activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>15,203,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>(2,742,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>17,945,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>654</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Investing activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(2,642,698</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>(5,350,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>2,707,902</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
                <div>51</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-indent: -9pt; margin-left: 18pt;">Financing activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>35,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>(108,800</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>144,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div>133</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div>%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Changes in Operating Activities &#8211; </font>Operating activities include revenues we receive from the sale of wholesale water and wastewater services, lot sales
          and costs incurred in the delivery of those services, G&amp;A expenses, and depletion/depreciation expenses.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Cash provided by operations in the nine months ended May 31, 2020, increased by approximately $17.9 million compared to the nine months ended May 31, 2019, which is primarily due to the partial reimbursement of
          capitalized costs of $10.5 million partially recorded in <font style="font-style: italic;">Land development </font>i<font style="font-style: italic;">nventories</font> to develop lots at Sky Ranch, the collection of up-front deferred oil and
          gas payments of $1.6 million, an increase of taxes receivable and deferred taxes of $0.7 million, coupled with an increase of net income of $4.3 million, primarily due to the gain on bond proceeds included in operating activities, the increase of
          prepaid expenses and other current assets of $1.6 million, and accounts payables and accrued liabilities of $0.4 million, offset by the recognition of deferred revenues net of advance payments for industrial water of $2.7 million.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Changes in Investing Activities</font><font style="font-weight: bold;"> &#8211; </font>The use of cash in<font style="font-weight: bold;">&#160;</font>investing activities
          during the nine months ended May 31, 2020, consisted of the maturity of short-term debt securities of $6.9 million, the investment in our water system of $7.3 million and the purchase of short-term investments of $1.7 million and equipment of
          $525,300. <font style="color: #000000;"> The use of cash in</font><font style="font-weight: bold; color: #000000;">&#160;</font><font style="color: #000000;">investing activities during the nine months ended May 31, 2019, consisted of the sale of
            multiple short-term debt securities totaling $36.7 million, the purchase of multiple short-term debt securities totaling $34.1 million, investments in our water systems of $7.7 million and the purchase of equipment of $320,000.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Changes in Financing Activities</font><font style="font-weight: bold;"> &#8211; </font>Cash provided by financing activities during the nine months ended May 31,
          2020, consisted of proceeds from the exercise of stock options of $40,000, offset by a payment to contingent liability holders of $4,200. <font style="color: #000000;">Cash provided by financing activities during the nine months ended May 31,
            2019, consisted of proceeds from the exercise of stock options of $114,900, offset by a payment to contingent liability holders of $6,000.</font></div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">32</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify; font-weight: bold;">Off-Balance Sheet Arrangements</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our off-balance sheet arrangements consist entirely of the contingent portion of the Comprehensive Amendment Agreement No. 1 (the &#8220;CAA&#8221;) as described in Note 4 &#8211; <font style="font-style: italic;">Long-Term
            Obligations and Operating Lease &#8211; Participating Interests in Export Water Supply</font> to the accompanying consolidated financial statements. The contingent liability is not reflected on our balance sheet because the obligation to pay the CAA
          is contingent on sales of &#8220;Export Water&#8221; (as defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets </font>in Part II, Item 8 of the 2019 Annual Report), the amounts and timing of which are not reasonably determinable.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>Critical Accounting Policies and Use of Estimates</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions about future events that
          affect the amounts reported in the financial statements and accompanying notes. Future events and their effects cannot be determined with absolute certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual
          results inevitably will differ from those estimates, and such differences may be material to the financial statements.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The most significant accounting estimates inherent in the preparation of our financial statements include estimates associated with the timing of revenue recognition, the impairment of water assets and other
          long-lived assets, fair value estimates and share-based compensation. Below is a summary of these critical accounting policies.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Revenue Recognition</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;"><font style="background-color: #FFFFFF;">We generate revenues through two lines of business. Revenues are derived through our wholesale water and wastewater business and through the sale of
            developed land primarily for residential lots, both of which businesses are described below.</font></div>
        <div><br>
        </div>
        <div style="color: #000000; font-style: italic; font-weight: bold;"><font style="background-color: #FFFFFF;">Wholesale Water and Wastewater Service Fees</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="background-color: #FFFFFF; color: #000000;">We </font>generate revenue through our wholesale water and wastewater services predominantly from three sources, which are described in detail below:</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zc6c1d833c55343f985c173b779e2ec9a" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

              <tr style="vertical-align: top;">
                <td style="width: 18pt;">&#160;</td>
                <td style="vertical-align: top; width: 18pt;">
                  <div style="text-align: justify;">(i)</div>
                </td>
                <td style="align: left; vertical-align: top; width: auto;">
                  <div style="text-align: justify;"><u>Monthly water usage and wastewater treatment fees</u>&#160;<font style="font-weight: bold; font-style: italic;">&#8211;</font> We provide water and wastewater services to customers, for which the customers are
                    charged fees monthly. Water usage fees are assessed to customers based on actual metered usage each month plus a base monthly service fee assessed per SFE unit served. One SFE is a customer, whether residential, commercial or
                    industrial, that imparts a demand on our water or wastewater systems similar to the demand of a family of four persons living in a single-family house on a standard-sized lot. Water usage pricing uses a tiered pricing structure. We
                    recognize wholesale water usage revenues at a point in time upon delivering water to our customers or our governmental customers&#8217; end-use customers, as applicable. Revenues recognized by us from the sale of Export Water and other
                    portions of our &#8220;Rangeview Water Supply&#8221; (as defined in Note 4 &#8211;<font style="font-style: italic;"> Water and Land Assets </font>in Part II, Item 8 of the 2019 Annual Report) off the Lowry Range are shown gross of royalties to the Land
                    Board. Revenues recognized by us from the sale of water on the Lowry Range are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District. For water sales on the Lowry Range, the Rangeview District is
                    directly selling the water and deemed the distributor of the water. The Rangeview District sets the price for the water sales on the Lowry Range.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 36pt;">In addition, the Company provides water for hydraulic fracturing to industrial customers in the oil and gas industry that are located in and adjacent to its service areas. O&amp;G operations
          revenues are recognized at a point in time upon delivering water to a customer, unless other special arrangements are made.</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 36pt;">We recognize wastewater treatment revenues monthly based on a flat monthly fee and actual usage charges. The monthly wastewater treatment fees are shown net of amounts retained by the Rangeview
          District. Costs of delivering water and providing wastewater services to customers are recognized as incurred.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za6435835f71e4f64b5d0a00c3b04925d">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">(ii)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Water and wastewater tap fees/Special Facility funding</u> &#8211; A tap fee constitutes a right to connect to our wholesale water and wastewater systems through a service line to a residential or commercial building or property, and once
                  granted, the customer may make a physical tap into the wholesale line(s) to connect its property for water and/or wastewater service. Once connected to the water and/or wastewater systems, the customer has live service to receive metered
                  water deliveries from our system and send wastewater into our system. We recognize water and wastewater tap fees as revenue at the time we grant a right for the customer to tap into the water or wastewater service line to obtain service.
                  Water tap fees recognized are based on the amounts billed to the Rangeview District and any amounts paid to third parties pursuant to the CAA as further described in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and
                    Operating Lease &#8211; Participating Interests</font>&#160;<font style="font-style: italic;">in Export Water Supply</font> to the accompanying consolidated financial statements.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">33</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify; margin-left: 36pt;">We recognize construction fees, including fees to construct &#8220;Special Facilities,&#8221; over time as the construction is completed.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z79ef76f790fe4934bb63d8e228b8770e">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(iii)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Consulting fees</u> &#8211; We recognize consulting fees as revenues typically on a monthly basis. We earn these fees from municipalities and area water providers along the I-70 corridor for which the Company provides contract operations
                  services. Consulting fees are recognized monthly based on a flat monthly fee plus charges for additional work performed, if applicable.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic; font-weight: bold;">Land Development Activities</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Company generates revenues through the sale of finished lots at its Sky Ranch development primarily from four sources of revenues, which are described in detail below:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z911fd1679b0e431dadc941a855557d00">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">(i)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Sale of finished lots</u> &#8211; We acquired approximately 930 acres of land zoned as a Master Planned Community known as Sky Ranch along the I-70 corridor east of Denver, Colorado. We have entered into purchase and sale agreements with
                  three separate home builders pursuant to which we agreed to sell, and each builder agreed to purchase, residential lots at Sky Ranch. We began constructing the required infrastructure on the lots in March 2018.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 36pt;">We sell lots at Sky Ranch pursuant to distinct agreements with each home builder. These agreements follow one of two formats. One format is the sale of a finished lot, whereby the purchaser pays
          for a ready-to-build finished lot and the sales price is paid in a lump-sum amount upon completion of the finished lot that is permit ready. We recognize revenues at the point in time of the closing of the sale of a finished lot in which control
          transfers to the builder&#160; as the transaction cycle will be complete, and we have no further obligations for the lot.</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 36pt;">Our second format is the sale of finished lots pursuant to a lot development agreement with builders, whereby we receive payments in stages that include (i) payment upon the delivery of platted
          lots (which requires us to deliver deeded title to individual lots), (ii) a second payment upon the completion of certain infrastructure milestones, and (iii) final payment upon the delivery of the finished lot. Ownership and control of the
          platted lots pass to the builders once we close the sale of the platted lots. Because the builder (i.e., the customer) takes control of the lot at the first closing and subsequent improvements made by us improve the builder&#8217;s lot as construction
          progresses, we account for revenue over time with progress measured based upon costs incurred to date compared to total expected costs. Any revenue in excess of amounts entitled to be billed is reflected on the balance sheet as a contract asset
          and amounts received in excess of revenue recognized are recorded as deferred revenue. We do not have any material significant payment terms as all payments are expected to be received within 12 months after the delivery of the platted lot. We
          adopted the practical expedient for financing components and do not need to account for a financing component of these lot sales as the delivery of lot sales is expected to occur within one year.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc72aa70d6c63480ebd2fdc5c6354c0c8">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">(ii)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Reimbursable Costs for Public Improvements</u> &#8211; The CAB is required to construct certain public improvements, such as water distribution systems, sewer collection systems, storm water systems, drainage improvements, roads, curbs,
                  sidewalks, landscaping and parks, the costs of which may qualify as reimbursable costs. Pursuant to our agreements with the CAB (see Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>), we are obligated to
                  finance this infrastructure. These public improvements are constructed pursuant to design standards specified by the Sky Ranch Districts and/or the CAB, and, after inspection and acceptance, are turned over to the applicable governmental
                  entity to operate and maintain. As these public improvements are owned and operated on behalf of a governmental entity, they may qualify for reimbursement.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 36pt;">Pursuant to our the agreements with the CAB, the CAB is not required to make payments to the Company for any advances made by the Company or expenses incurred related to construction of public
          improvements unless and until the CAB and/or the Sky Ranch Districts issue bonds in an amount sufficient to reimburse the Company for all or a portion of the advances made and expenses incurred. Because the timing of the issuance and approval of
          any bonds is subject to considerable uncertainty, any potential reimbursable costs for the construction of public improvements, including construction support activities and project management fees, are initially capitalized in <font style="font-style: italic;">Land Development inventories. </font>If the bonds have not been approved and issued prior to the sale of the lots serviced by the public improvements, the costs are expensed through <font style="font-style: italic;">Land development construction costs</font> when the lots are sold consistent with other construction related costs. If bonds ultimately are issued, upon receipt of reimbursements by us, we record the reimbursements received as <font style="font-style: italic;">Other income </font>to the extent that costs have previously been expensed and reduce <font style="font-style: italic;">Land development inventories</font> by any remaining reimbursables received. We submit
          specific costs for reimbursement to the CAB.<font style="font-style: italic;">&#160;</font>If reimbursable costs received exceed actual expenses incurred by the Company for the cost of the public improvements, they are recorded as <font style="font-style: italic;">Other income </font>as received.</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 36pt;">All amounts owed under the 2018 FFAA bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest
          income is not recognized on the amounts owed by the CAB until the bonds are issued.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">34</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z81bb7a19c76c4c32ba8fdf3bf5194b5c">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(iii)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Project management services</u> &#8211; On May 2, 2018, we entered into two Service Agreements for Project Management Services (the &#8220;Project Management Agreements&#8221;) with the CAB. Pursuant to the Project Management Agreements, we act as
                  the project manager and provide any and all services required to deliver the CAB-eligible improvements, including but not limited to CAB compliance, planning design and approvals, project administration, contractor agreements, and
                  construction management and administration. We must submit to the CAB a monthly invoice, in a form acceptable to the CAB, detailing all project management activities during the period. We are responsible for all expenses we incur in the
                  performance of the Project Management Agreements and are not entitled to any reimbursement or compensation except as set forth in the Project Management Agreements, unless otherwise approved in advance by the CAB in writing. The CAB is
                  subject to annual budget and appropriation procedures and does not intend to create a multiple-fiscal year direct or indirect debt or other financial obligation. We receive a project management fee of five percent (5%) of actual
                  construction costs of CAB-eligible improvements. The project management fee qualifies as a reimbursable cost to the Company. The project management fee is based only on the actual costs of the improvements; thus, items such as fees,
                  permits, review fees, consultant or other soft costs, and land acquisition or any other costs that are not directly related to the cost of construction of CAB-eligible improvements are not included in the calculation of the project
                  management fee. Soft costs and other costs that are not directly related to the construction of CAB-eligible improvements are included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>
                  and accounted for in the same manner as construction support activities as described below. Per the Project Management Agreements, no payment is required by the CAB with respect to project management fees unless and until the CAB and/or
                  the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables. Due to this contingency, the project management
                  fees are being accrued to revenue with a corresponding allowance until the point in time when bonds are issued by the Sky Ranch Districts and/or the CAB and the CAB reimburses us for the public improvements. At that point, the portion of
                  the project management fees repaid will be recognized as revenue. To date, we have accrued $1,371,600<font style="font-weight: bold;">&#160;</font>in project management services to the CAB.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z57d2137e52434540a99f18d248ce6849">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(iv)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Construction support activities</u> &#8211; We perform certain construction activities at Sky Ranch. The activities performed include construction and maintenance of the grading, erosion and sediment control best management practices and
                  other construction-related services. These activities are invoiced upon completion and are included in <font style="font-style: italic;">Land Development inventories</font> and subsequently expensed through <font style="font-style: italic;">Land development construction costs</font> unless or until bonds are issued by the Sky Ranch Districts and/or the CAB and the CAB reimburses the Company for public improvements. Refer to section (ii) <font style="font-style: italic;">Reimbursable Costs for Public Improvements</font> for details on repayment of reimbursable costs.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic; font-weight: bold;">Leases</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Revenues received pursuant to the Bison Lease and the OGOA consisting of up-front payments are recognized as other income on a straight-line basis over the initial term or extension of term, as applicable, of the
          leases.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Impairment of Water Assets and Other Long-Lived Assets</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We review our long-lived assets for impairment whenever management believes that events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We specifically measure the
          recoverability of our water assets to be held and used by a comparison of the carrying amount of the asset to estimated future undiscounted net cash flows we expect to be generated by the eventual use of the asset. If such assets are considered
          to be impaired and, therefore, the costs of the assets deemed to be unrecoverable, the impairment to be recognized would be the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our water assets will be utilized in the provision of water services that inevitably will encompass many housing and economic cycles. Our water supplies are legally decreed to us through the water court. The water
          court decree allocates a specific amount of water (subject to continued beneficial use), which historically has not changed. Thus, individual housing and economic cycles typically do not have an impact on the number of connections we can serve
          with our supplies or the amount of water legally decreed to us relating to these supplies.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Our Water Rights &#8211; </font>We determine the undiscounted cash flows for our Denver-based assets by estimating tap sales to potential new developments in our
          service area and along the Front Range, using estimated future tap fees less estimated costs to provide water services, over an estimated development period. Actual new home development in our service area and the Front Range, actual future tap
          fees, and actual future operating costs inevitably will vary significantly from our estimates, which could have a material impact on our financial statements as well as our results of operations. We performed an impairment analysis as of August
          31, 2019, and determined that there were no material changes and that our Denver-based assets are not impaired and their costs are deemed recoverable. Our impairment analysis is based on development occurring within areas in which we have service
          agreements (e.g., Sky Ranch and the Lowry Range) as well as in surrounding areas, including the Front Range and the I-70 corridor. Our combined Rangeview Water Supply and Sky Ranch water assets have a carrying value of $49.2 million as of August
          31, 2019. Based on the carrying value of our water rights, the long-term and uncertain nature of any development plans, current tap fees of $26,675 and estimated gross margins, we estimate that we would need to add 1,850 new water connections
          (requiring 7% of our portfolio) to generate net revenues sufficient to recover the costs of our Rangeview Water Supply and Sky Ranch water assets. If tap fees increase 5%, we would need to add 1,750 new water taps (requiring 7% of our portfolio)
          to recover the costs of our Rangeview Water Supply and Sky Ranch water assets. If tap fees decrease 5%, we would need to add 1,940 new water taps (requiring 7% of our portfolio) to recover the costs of our Rangeview Water Supply and Sky Ranch
          water assets.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">35</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify;">Although the timing of actual new home development throughout the Front Range will impact our estimated tap sale projections, it will not alter our water ownership, our service obligations to existing properties or
          the number of SFEs we can service.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Our Land Development Assets</font><font style="font-weight: bold;">&#160;</font>&#8211; We determine the undiscounted cash flows from lot sales, defined under our Builder
          Contracts, using the costs incurred to date and estimated costs to build the remaining infrastructure for delivery of finished lots over an estimated development period. Our impairment analysis is based on comparing the lot sale price under our
          Builder Contracts, together with qualified reimbursables, with the cost to deliver the finished lots. Our Sky Ranch land assets under development, shown as <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> on our balance sheet, have a carrying value of $11.6 million as of August 31, 2019. Based on the carrying value of our land inventories and the estimated costs to complete finished lots, compared to revenue generated
          from lot sales and reimbursables, we estimate that we generate net revenues sufficient to recover the costs of our land development activities. If our costs increase 5% and our lot sale revenues remain the same pursuant to our agreements, we
          estimate that our recoverable reimbursable costs would increase 2.5% and that we would generate net revenues sufficient to recover the costs of our land development activities.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">
          <div><font style="font-weight: bold; font-style: italic;">Arkansas Valley Mineral Rights &#8211;</font><font style="color: #000000;"> </font>Due to low demand and increased foreign supply, oil and gas prices have dropped to record lows in 2020
            resulting in a significant decline in oil and gas exploration and production activities. This decline could continue for the foreseeable future. The oil and gas industry has always been volatile and routinely experiences dramatic decreases and
            increases in activity. However, the oil and gas industry has historically continued to maintain a high level of activity in Colorado. Changes in prices and demand have no impact on the&#160; amount of mineral rights we own, and historically when
            prices rebound, oil and gas producers have been able to&#160; quickly resume exploration and drilling operations. Therefore, despite the current industry declines, we believe the cash expected to be generated from the eventual use or sale of our
            Arkansas Valley mineral rights exceeds the carrying value of the assets and our mineral rights are not impaired.</div>
          <div>&#160;</div>
        </div>
        <div style="text-align: justify; font-weight: bold;">Share-Based Compensation</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We estimate the fair value of share-based payment awards made to key employees and directors on the date of grant using the Black-Scholes option pricing model. We then expense the fair value over the vesting period
          of the grant using a straight-line expense model. The fair value of share-based payments requires management to estimate or calculate various inputs such as the volatility of the underlying stock, the expected dividend rate, the estimated
          forfeiture rate and an estimated life of each option. We do not expect any forfeiture of option grants; therefore, the compensation expense has not been reduced for estimated forfeitures. These assumptions are based on historical trends and
          estimated future actions of option holders and may not be indicative of actual events, which may have a material impact on our financial statements. For further details on share-based compensation expense, see Note 5 &#8211; <font style="font-style: italic;">Shareholders&#8217; Equity</font> to the accompanying consolidated financial statements.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>Recently Adopted and Issued Accounting Pronouncements</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">See Note 1 &#8211; <font style="font-style: italic;">Presentation of Interim Information</font> to the accompanying consolidated financial statements for recently adopted and issued accounting pronouncements.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">36</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>Disclosure Regarding Forward-Looking Statements</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">Statements that are not historical facts contained in or incorporated by reference into this Quarterly Report on Form 10-Q are &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation
          Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). Forward-looking statements involve risks and uncertainties that could cause actual
          results to differ from projected results. The words &#8220;anticipate,&#8221; &#8220;goal,&#8221; &#8220;seek,&#8221; &#8220;project,&#8221; &#8220;strategy,&#8221; &#8220;future,&#8221; &#8220;likely,&#8221; &#8220;may,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;intend&#8221; and similar expressions and references to
          future periods, as they relate to us, are intended to identify forward-looking statements. Forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. We
          cannot assure you that any of our expectations will be realized. Forward-looking statements include, among others, statements we make regarding:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z71449f72f9d14832913a96730e17b4a1">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the impact of COVID-19;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z87242da5e94b406b9dd6e46743263c2e">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">reimbursements of certain costs, including interest, by the CAB and the estimated amount and timing of receipt of such reimbursable costs;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3a3b8d43a0ae46a29ad8b90cce51862f">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the impact of new accounting pronouncements;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3032b77e11a24488b37f095f94237ca7">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the policies and procedures to value certain financial instruments;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9be57e30be1b4d7c987e2b62cd1a4ebe">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">expected results of operations;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0724efaaf96247d68fc626a96e79eb4a">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">anticipated margins from wastewater treatment services;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z82d1998923774fdea0d3bf015000659b">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">estimated effective income tax rates expected to be applicable to the fiscal year;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zefeafa90525b40968327f0f6633afec2">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the timing and impact on our financial statements of new home construction and other development in the areas where we may sell our water;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z24c82784672a45fd8dd0dee1353667cf">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">utilization of our water assets;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7c2ff39f33da4421b129d9a346ee1c0f">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">growth in our targeted service area;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z30a1273de01a47ad81d7a37ac45400fc">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">anticipated AMT refund in future years;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z32bfceb1b5c8471a850f4a5c49cfc720">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">projected capital spending and projected gross proceeds and margin on lot sales for the first filing of Sky Ranch;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf142ad822b824e1bb3e61c6e7c9ea8e4">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">timing of delivery of finished lots at Sky Ranch;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zffa0cf2cca0643dca8dc434ea7100637">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">expected payments to be received from home builders;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zee572b00090644b487dbe20b97c160cf">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">expected occupany dates for houses at Sky Ranch;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc11d1c4187cf43df88a6ec8ff04d170c">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">sufficiency of our working capital to fund our operations for the next 12 months;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2545e33d8e0a4ad8be7d325f4da98ce9">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">our ability to fund improvements needed to deliver finished lots to home builders at Sky Ranch by phasing construction and delivery of lots and utilizing progress payments from builders;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze05c06436c2f4e6db064b296033f0cd1">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">costs associated with the use of the ECCV system;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z382eb035ca9a4d459bb3ac986633eb3a">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">infrastructure to be constructed over the next several years, including the expected costs thereof;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5cf3139c41bf46099897a857d6c8d9b1">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">timing and availability of water from, and projected costs related to, WISE;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7808d1858a1e409483ef28fb71ba3cd2">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">estimates associated with revenue recognition, asset impairments, and cash flows from our water and land assets;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z52394eecd893464ba4072b4ca7cc068c">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">variance in our estimates of future tap fees and future operating costs;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd4e7873ba84e4166970def9820d7c51e">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">estimated number of SFE units that can be served by our water systems;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za0e3b45b7d714ad088c9368cc44e6618">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">number of new water connections necessary to recover costs;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaef9fcda9cd141dbb2f517ee18182946">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">expected vesting and forfeitures of stock options;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb7a8ace6065e4e139f46cd9a320eac8f">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">objectives of our investment activities;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5f1d22bef6fb482d91c61d50966c213b">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">timing of the recognition of income related to the Bison Lease and the OGOA;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z10d23caecf494381bc64b6922d097496">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the effectiveness of our disclosure controls and our internal control over financial reporting; and</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z025736f945e04b08b276f68baa5c8532">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">our plans to remediate material weaknesses in our internal control over financial reporting.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">37</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: justify;">Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, without limitation:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z46c76a26e3444db0a50b5f0147194d7c">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>outbreaks of disease, including the COVID-19 pandemic, and related stay-at-home orders, quarantine policies and restrictions on travel, trade and business operations;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z55106243a5c24648b1f30bdf627fc03a">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>political and economic instability, whether resulting from natural disasters, wars, terrorism, pandemics or other sources;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2ef028945c454badbb3fcdf8f49f64f6">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the ability to continue new home construction in the event the home builders&#8217; employees or our land development employees are quarantined due to the impact of the COVID-19;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z098cbaf93fd640c69444dd5ea9b372fb">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the timing of new home construction and other development in the areas where we may sell our water, which in turn may be impacted by credit availability;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z27f66a6198a04915b809470c03d431c4">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">population growth;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z89701430290643a0a897a534d6771c8d">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">changes in employment levels, job and personal income growth and household debt-to-income levels;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc2f4e2ca2e22477b9e29b36235f88c14">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>changes in consumer confidence generally and confidence of potential homebuyers in particular;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2b04c98353fc4739aae65f6e419c10cc">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>the ability of existing homeowners to sell their existing homes at prices that are acceptable to them;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z47867400d0144345bc8f9ad37bad2253">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">changes in the supply of available new or existing homes and other housing alternatives, such as apartments and other residential rental property;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z20cb43a380ea4548a2ca67f6a4820e4b">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">timing of oil and gas development in the areas where we sell our water;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z38edcf6e64bb4c9e90b044a8433c8ba8">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">general economic conditions;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za80cd90d7cb641e7a45fc25b2137374f">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the ability of the CAB to issue bonds n the capital markets;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z19c913d31f5142bd9d02805cf4b948fa">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the market price of water;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd28039a9bb3242ffb0f44be6e1defe70">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the market price of oil and gas;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfc36d3d63efe4e60b7c93cb0adde9eed">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">changes in customer consumption patterns, including as a result of stay-at-home orders;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9b517f1e19e94d919f1706aa116eee50">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">changes in applicable statutory and regulatory requirements;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4936b3cde21f4ee388a5b2709600b35b">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">changes in governmental policies and procedures, including with respect to land use and environmental and tax matters;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze8fa47886aac4364bb161c1add84e7ce">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>changes in interest rates;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za76de1dfade340c7a7225ed63f2d6d23">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">private and federal mortgage financing programs and lending practices;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb83dad5f30ea4e198e89937210786179">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">uncertainties in the estimation of water available under decrees;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4f1593ed1b8f478aa9e29bc5eb02b64d">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">uncertainties in the estimation of costs of delivery of water and treatment of wastewater;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd3eb31c2f6f641a3b13c60f29466e5c1">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">uncertainties in the estimation of the service life of our systems;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf5fb305baff940d19066e227e55945c7">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">uncertainties in the estimation of costs of construction projects;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4c12f08162d041edbbe582c611257d41">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">the strength and financial resources of our competitors;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd11fb41938e743a6addf1a9791488700">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">our ability to find and retain skilled personnel;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z566800a49ef24ca4ac1b2b1a022b2ef6">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">climatic and weather conditions, including floods, droughts, freezing conditions and tornadoes;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1e956938b46145f28c12966ff902cae5">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">labor relations;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1900a2ece2474b88898bb74c6661e3e7">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">turnover of elected and appointed officials and delays caused by political concerns and government procedures;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z56c70d7ac2b443daae603c29c11cccc2">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">availability and cost of labor, material and equipment;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z10558af61eb34cfab070d62e1dad97f2">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">delays in anticipated permit and construction dates;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z19543c63a9e24d538c362c6747ddebd4">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">engineering and geological problems;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7a77f44de3f6419a9c85a40dca94a6f0">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">environmental risks and regulations;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc9575c3dd38a482c84bf58a851d98715">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">our ability to raise capital;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z650a65bacccb40c4a919ccd6bec51870">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">our ability to negotiate contracts with new customers;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze32fda0495004e82905562df15068649">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">uncertainties in water court rulings;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8b249fcf597c43eeaff14d72874bf73a">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">unauthorized access to confidential information and data on our information technology systems and security and data breaches; and</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5af960bc6f3b4605842b6f489b7eec5f">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; text-align: justify;">&#9679;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>factors described under &#8220;Risk Factors&#8221; in our 2019 Annual Report on Form 10-K and under Item 1A of our Quarterly Report on Form 10-Q for the quarter ended February 29, 2020.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;">We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are expressly qualified by
          these cautionary statements.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">38</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z923f21c9f22b40fca8b1f6973f78d481">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-weight: bold;"><a name="Item3."><!--Anchor--></a>Item 3.</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">Quantitative and Qualitative Disclosures About Market Risk</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;">Not applicable.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2cef89293c854c0689e5752f0360ff55">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-weight: bold;"><a name="Item4."><!--Anchor--></a>Item 4.</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">Controls and Procedures</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Evaluation of Disclosure Controls and Procedures</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We maintain disclosure controls and procedures as defined in Rule 13a-15(e) of the Exchange Act that are designed to ensure that information required to be disclosed in our reports filed or submitted to the SEC
          under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the SEC&#8217;s rules and forms, and that information is accumulated and communicated to management, including the principal executive officer
          and principal financial officer, as appropriate to allow timely decisions regarding required disclosures. The President and the Chief Financial Officer evaluated the effectiveness of disclosure controls and procedures as of May 31, 2020, pursuant
          to Rule 13a-15(b) under the Exchange Act. Based on that evaluation, the President and the Chief Financial Officer each concluded that, as of the end of the period covered by this report, the Company&#8217;s disclosure controls and procedures were not
          effective. A system of controls, no matter how well designed and operated, cannot provide absolute assurance that the objectives of the system of controls are met, and no evaluation of controls can provide absolute assurance that all control
          issues and instances of fraud, if any, within a company have been detected.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Changes in Internal Control Over Financial Reporting</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission
          (&#8220;COSO&#8221;) in Internal Control &#8211; Integrated Framework (the &#8220;2013 COSO Framework&#8221;). Based on that evaluation, our management<font style="color: #000000;"> identified deficiencies related to our identification of expense accruals of costs incurred
            from related parties and the preparation of our income tax provision that constitute material weaknesses in our internal control over financial reporting as of August 31, 2019.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">A material weakness is a deficiency, or combination of deficiencies, in our internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our
          annual or interim financial statements will not be prevented or detected on a timely basis.</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">Management is dedicated to remediating the control deficiencies that gave rise to the material weaknesses in our internal control over financial reporting. The following steps are among the measures
          that have been implemented or that we intend to implement in the second, third and fourth quarters of fiscal 2020 to address our material weaknesses as of August 31, 2019:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3279d3d8aa954f70bce199aac0ae900e">

            <tr>
              <td style="width: 20.3pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: #000000;">We have initiated compensating controls, including designating an additional person to confirm expense accruals;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z657e47b23c7b41fe88e46eb92f4509ed">

            <tr>
              <td style="width: 20.3pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: #000000;">We are enhancing and revising the design of existing controls and procedures to improve our identification of expense accruals of costs;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z355ca4f639c6437190c3f7695c802bd3">

            <tr>
              <td style="width: 20.3pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: #000000;">We have initiated compensating controls, including designating an external tax consulting firm to review and confirm our quarterly income tax provisions are correct and complete; and</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaaaf4679c9ff4c0f9931a1c5b786f4a3">

            <tr>
              <td style="width: 20.3pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>As described below, we have hired a Chief Financial Officer separate from the President, who is expected to provide additional expertise and oversight of our internal control over financial reporting.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">We have begun the remediation of these material weaknesses and anticipate they will be completed prior to the end of our fiscal 2020. We cannot assure that the measures we take will remediate the
          identified material weaknesses or that any additional material weaknesses will not arise in the future.</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">On April 1, 2020, Kevin B. McNeill, joined the Company as Vice President, and the board of directors of the Company voted to elect Mr. McNeill as Chief Financial Officer, principal accounting
          officer and principal financial officer of the Company effective as of April 10, 2020. Mark W. Harding continues to serve as the Company&#8217;s President and Chief Executive Officer, but relinquished his position as Chief Financial Officer, principal
          accounting officer and principal financial officer effective as of April 10, 2020.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="color: #000000;">Except as noted above, n</font>o changes were made to our internal control over financial reporting during our most recently completed fiscal quarter that have materially affected, or
          are reasonably likely to materially affect, our internal control over financial reporting.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">39</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: center; font-weight: bold;"><a name="PARTIIOTHERINFORMATION"><!--Anchor--></a>PART II &#8211; OTHER INFORMATION</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfaa19af455594442b703580d26167eeb">

            <tr>
              <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;"><a name="Item6."><!--Anchor--></a>Item 6.</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">Exhibits</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z556dc0141da245d6a2e382d9cd05750f">

            <tr>
              <td style="width: 8%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-weight: bold;">Exhibit </div>
                <div style="text-align: justify; font-weight: bold;">Number</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 90%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Description</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top;">&#160;</td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 90%; vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/276720/000136231007003243/c71715pre14a.htm">3.1</a></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Articles of Incorporation of the Company. Incorporated by reference to Appendix B to the Proxy Statement on Schedule 14A filed on December 14, 2007.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/276720/000136231007003243/c71715pre14a.htm">3.2</a></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Bylaws of the Company. Incorporated by reference to Appendix C to the Proxy Statement on Schedule 14A filed on December 14, 2007.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;"><a href="ex10_1.htm">10.1</a></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Sixteenth Amendment to Contract for Purchase and Sale of Real Estate, dated April 30, 2020, by and between PCY Holdings, LLC and KB Home Colorado Inc.*</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;"><a href="ex31_1.htm">31.1</a></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Certification of principal executive officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;"><a href="ex31_2.htm">31.2</a></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Certification of principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;"><a href="ex32_1.htm">32.1</a></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Certification of principal executive officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. **</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;"><a href="ex32_2.htm">32.2</a></div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Certification of principal financial officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. **</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">101.INS</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">XBRL Instance Document. *</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">101.SCH</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">XBRL Taxonomy Extension Schema Document. *</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">101.CAL</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">XBRL Taxonomy Extension Calculation Linkbase Document. *</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">101.DEF</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">XBRL Taxonomy Extension Definition Linkbase Document. *</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">101.LAB</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">XBRL Taxonomy Extension Label Linkbase Document. *</div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">101.PRE</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 90%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">XBRL Taxonomy Extension Presentation Linkbase Document. *</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z46ee5bbb7f3b4885a5676f5b58c3070e">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">*</td>
              <td style="width: auto; vertical-align: top;">
                <div>Filed herewith.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z41cfe546f9e349d6a25f1a2ce06efbd7">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">**</td>
              <td style="width: auto; vertical-align: top;">
                <div>Furnished herewith.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">40</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"><a href="#INDEX"><font style="font-size: 8pt; font-style: italic;">Index</font></a></div>
        </div>
        <div style="text-align: center; font-weight: bold;"><a name="SIGNATURES"><!--Anchor--></a>SIGNATURES</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">PURE CYCLE CORPORATION</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z291c82e4e7b74221b1d352f66816b36e">

            <tr>
              <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Kevin B. McNeill</div>
              </td>
              <td style="width: 60%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; vertical-align: top;">
                <div style="text-align: justify;">Kevin B. McNeill</div>
              </td>
              <td style="width: 60%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; vertical-align: top;" rowspan="1" colspan="2">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Vice President and Chief Financial Officer</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40%; vertical-align: top;">
                <div style="text-align: justify;">July 7, 2020</div>
              </td>
              <td style="width: 60%; vertical-align: top;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">41</font></div>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      </div>
      <!-- base href="file:///C:/Users/durnalah/AppData/Local/Temp/EDGARfilings%20PROfile%20Green/ye4tyh0q.inq/expand/content/form10q.htm" -->
      <title></title>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Summit Financial
         Document created using EDGARfilings PROfile 7.1.0.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">


  <div>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-weight: bold;">SIXTEENTH AMENDMENT TO</div>
    <div style="text-align: center; font-weight: bold;">CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE</div>
    <div style="text-align: center; font-weight: bold;">(Sky Ranch)</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">THIS SIXTEENTH AMENDMENT TO CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE (this "<font style="font-weight: bold;"><u>Amendment</u></font>") is made effective as of April 30, 2020 (the "<font style="font-weight: bold;"><u>Effective Date</u></font>"), by and between <font style="font-weight: bold;">PCY HOLDINGS, LLC</font>, a Colorado limited liability company ("<font style="font-weight: bold;"><u>Seller</u></font>"), and <font style="font-weight: bold;">KB HOME COLORADO INC.</font>, a Colorado corporation ("<font style="font-weight: bold;"><u>Purchaser</u></font>"). Seller
      and Purchaser may be referred to collectively as the "<font style="font-weight: bold;"><u>Parties</u></font>."</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>RECITALS</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">A.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;">Seller and Purchaser previously entered into a Contract for Purchase and Sale of Real Estate effectively dated June 29, 2017, as amended (the "</font><font style="font-weight: bold; color: #000000;"><u>Contract</u></font><font style="color: #000000;">") for approximately 149 platted single-family detached residential lots in the Sky Ranch
          master planned residential community (the &#8220;</font><font style="font-weight: bold; color: #000000;"><u>Community</u></font><font style="color: #000000;">&#8221;) in the County of Arapahoe, State of Colorado.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">B.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;">Seller and Purchaser
        have agreed to amend the takedown schedule for the remaining Takedowns as set forth herein.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">C.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;">Seller and Purchaser
        desire to amend the terms and conditions of the Contract as set forth below.</font></div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;"><u>AGREEMENT</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">NOW, THEREFORE, in consideration of the mutual covenants contained in this Amendment and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the Purchaser and Seller hereby agree as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; color: #000000;"><u>Recitals; Capitalized Terms</u></font><font style="color: #000000;">.&#160; The recitals set forth above are true and correct and
          are incorporated herein in their entirety by this reference.&#160; Capitalized terms not defined in this Amendment shall have the meanings set forth in the Contract.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(1, 0, 0);">2.</font><font style="font-weight: bold; color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Takedowns 5 and 6</u></font><font style="color: rgb(0, 0, 0);">. The
          Parties agree to bifurcate the Fifth Closing (aka Takedown 5 Closing) into 2 closings (&#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Fifth</font><font style="color: rgb(0, 0, 0);">&#160;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Closing A</font><font style="color: rgb(0, 0, 0);">&#8221; and &#8220;</font><font style="font-weight: bold; color: rgb(0, 0, 0);">Fifth Closing B</font><font style="color: rgb(0, 0, 0);">&#8221;). Fifth Closing A shall occur on June 15, 2020. Fifth Closing</font><font style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</font><font style="color: rgb(0, 0, 0);">B shall occur on August 15, 2020. The date of the Sixth Closing (aka Takedown 6 Closing) shall remain unchanged at December 15, 2020. The Lots for the Fifth
          Closing A, Fifth Closing B and Sixth Closing shall consist of the following (all being within Sky Ranch Subdivision Filing No. 1 Recorded July 20, 2018 under Reception No. D8071296):</font></div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z4f665299d64d4ef585f801e2c068cde6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 90pt; vertical-align: top; align: right; color: #000000;">Fifth Closing A:</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;">17 Lots, of which 13 are SFD 45&#8217; Lots and 4 are SFD 50&#8217; Lots, being Lots 25-37, Block 15 and Lots 10-13, Block 14.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zebdbf40593e44c149e1929cb99cc558c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 90pt; vertical-align: top; color: rgb(0, 0, 0);">Fifth Closing B:</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;">12 Lots, of which 8 are SFD 45&#8217; Lots and 4 are SFD 50&#8217; Lots, being Lots 17-24, Block 15 and Lots 6-9, Block 14.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <!--PROfilePageNumberReset%Num%2%%%-->
    <table cellspacing="0" cellpadding="0" id="zb8e9a53fcdcd44d79492b4ccda4860a0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 90pt; vertical-align: top; align: right; color: #000000;">Sixth Closing:</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;">22 Lots, of which 17 are SFD 45&#8217; Lots and 5 are SFD 50&#8217; Lots, being Lots 1-17, Block 17 and Lots 1-5, Block 14.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; color: #000000;"><u>Construction</u></font><font style="color: #000000;">.&#160; Each of the Parties acknowledges that they, and their respective
          counsel, substantially participated in the negotiation, drafting and editing of this Amendment. Accordingly, the Parties agree that the provisions of this Amendment shall not be construed or interpreted for or against any Party hereto based on
          authorship.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; color: #000000;"><u>Authority</u></font><font style="color: #000000;">.&#160; Each Party represents and warrants that is has the power and authority to
          execute this Amendment and that there are no third party approvals required to execute this Amendment or to comply with the terms or provisions contained herein.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; color: #000000;"><u>Headings</u></font><font style="color: #000000;">.&#160; The Section headings used herein shall have absolutely no legal
          significance and are used solely for convenience of reference.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(1, 0, 0);">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-weight: bold; color: rgb(0, 0, 0);"><u>Ratified and Confirmed</u></font><font style="color: rgb(0, 0, 0);">.&#160; The
          Contract, except as modified by this Amendment, is hereby ratified and confirmed and shall remain in full force and effect in accordance with its original terms and provisions. In the case of any conflict between the terms of this Amendment and
          the provisions of the Contract, the provisions of this Amendment shall control.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #010000;">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; color: #000000;"><u>Counterparts</u></font><font style="color: #000000;">.&#160; This Amendment may be executed in counterparts, each of which shall be
          deemed to be an original, and both of which together shall be deemed to constitute one and the same instrument.&#160; Each of the Parties shall be entitled to rely upon a counterpart of this Amendment executed by the other Party and sent via facsimile
          or e-mail transmission.</font></div>
    <div>&#160;</div>
    <div style="text-align: center;">[SIGNATURE PAGE FOLLOWS]<br>
      <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as of the Effective Date.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z35952a7182aa4e73b13e69b3b8efde87" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">SELLER:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div>PCY HOLDINGS, LLC, a Colorado limited liability company</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div>/s/ Mark Harding</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div>Mark Harding</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div><a name="z_Hlk492892557"></a>President</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4bb393fb57874cb98a6e55d64f876a5a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">PURCHASER:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div>KB HOME COLORADO INC., a Colorado corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div>/s/ Randel Carpenter</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div>Randel Carpenter</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div>President</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>ex31_1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Summit Financial
         Document created using EDGARfilings PROfile 7.1.0.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div>
    <div style="text-align: right; font-weight: bold;">EXHIBIT 31.1</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</div>
    <div><br>
    </div>
    <div style="text-align: justify;">I, Mark W. Harding, certify that:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd028f04935004bed98a3904b12b73bc7">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I have reviewed this quarterly report on Form 10-Q of Pure Cycle Corporation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb8ae35a7fa6b4c2ca8a74b395c368753">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
              misleading with respect to the period covered by this report;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6cc8cd9b846940dab24104886a2e05d5">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Based on my knowledge, the consolidated financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
              as of, and for, the periods presented in this report;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6b705587b5ef4aabb02317984f2b4e3f">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and
              15d-15(f)) for the registrant and have:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3852605eb48e49f5bc6a41ebc6747f64">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated
              subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zce30f102668b433e9e30e8412b6ba28d">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
              preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za4e552408c7d4f01af78f7b5dfecb0f4">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this
              report based on such evaluation; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6d255bb6163e4c9586b7798444ed9aae">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report)
              that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z10e451b0fc73426b86187a94a02ce224">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent
              functions):</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z03b43a1e25bb4e25aa28c58fa17fcfec">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize and report
              financial information; and</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; text-indent: -18pt; margin-left: 36pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z20e6c62f1a964af1b6d448c0fa566af8">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze96a6e426f324393bdf323f16b722490">

        <tr>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Dated: July 7, 2020</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>/s/ Mark W. Harding</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Mark W. Harding</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify;">Principal Executive Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>4
<FILENAME>ex31_2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Summit Financial
         Document created using EDGARfilings PROfile 7.1.0.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div>
    <div style="text-align: right; font-weight: bold;">EXHIBIT 31.2</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</div>
    <div><br>
    </div>
    <div style="text-align: justify;">I, Kevin B. McNeill, certify that:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4335f73b4571486b9e96e7032d71efd1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I have reviewed this quarterly report on Form 10-Q of Pure Cycle Corporation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z395bd3dd4ce243788b383322b660eaa1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
              circumstances under which such statements were made, not misleading with respect to the period covered by this report;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z557e4210cbec401586ad5acb080c0bc6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Based on my knowledge, the consolidated financial statements, and other financial information included in this report, fairly present in all material respects the financial
              condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zcd85254a36ba4f39b201b0a5c781c856" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
              reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="za2859b4b57744000adee33cf8b5084df" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating
              to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z3841988b22aa4e2186650240a4ba2fa5" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance
              regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6bd20a784f874d3caa1492d272ff1b1e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and
              procedures, as of the end of the period covered by this report based on such evaluation; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd0b12db6b6e14ea8b36d121790606da4" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s
              fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb47ee422801d41f8acdc7a241a5e6d21" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of
              directors (or persons performing the equivalent functions):</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd1aef8c428f145389ad9960e58577728" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the
              registrant&#8217;s ability to record, process, summarize and report financial information; and</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; text-indent: -18pt; margin-left: 36pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zcd9af27978f9407c9c668e512f30cd8c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z11640b2d0b8843be8f055ec20346bb37" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Dated: July 7, 2020</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>/s/ Kevin B. McNeill</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Kevin B. McNeill</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" colspan="2">
            <div style="text-align: justify;">Principal Financial Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
  </div>
  <div><br>
  </div>
  <div>
    <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>5
<FILENAME>ex32_1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Summit Financial
         Document created using EDGARfilings PROfile 7.1.0.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div>
    <div style="text-align: right; font-weight: bold;">EXHIBIT 32.1</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,</div>
    <div style="text-align: center; font-weight: bold;">AS ADOPTED PURSUANT TO</div>
    <div style="text-align: center; font-weight: bold;">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In connection with the Quarterly Report on Form 10-Q of Pure Cycle Corporation (the &#8220;Company&#8221;) for the quarterly period ended May 31, 2020, as filed with the Securities and Exchange Commission on the date hereof (the
      &#8220;Report&#8221;), I, Mark W. Harding, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. &#167; 1350, as adopted pursuant to &#167; 906 of the Sarbanes-Oxley Act of 2002, that:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb39a6e6033ef4c72b7d0fd834eb4ea35">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze68da7cdc0ae4a72a89912643a3384dd">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3c167f3b428c4ffa9d2e86b3cbdd68c4">

        <tr>
          <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify;">/s/ Mark W. Harding</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;">
            <div style="text-align: justify;">Mark W. Harding</div>
          </td>
          <td style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify;">Principal Executive Officer</div>
          </td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify;">July 7, 2020</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>6
<FILENAME>ex32_2.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Summit Financial
         Document created using EDGARfilings PROfile 7.1.0.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div>
    <div style="text-align: right; font-weight: bold;">EXHIBIT 32.2</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,</div>
    <div style="text-align: center; font-weight: bold;">AS ADOPTED PURSUANT TO</div>
    <div style="text-align: center; font-weight: bold;">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In connection with the Quarterly Report on Form 10-Q of Pure Cycle Corporation (the &#8220;Company&#8221;) for the quarterly period ended May 31, 2020, as filed with the Securities and Exchange Commission on the date hereof (the
      &#8220;Report&#8221;), I, Kevin B. McNeill, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. &#167; 1350, as adopted pursuant to &#167; 906 of the Sarbanes-Oxley Act of 2002, that:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z398402e9a6ec4e78b64732b4856a04e1">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; text-indent: -18pt; margin-left: 18pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z258023d7996341a181056df0c5ffe65d">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z25c4e9b8a45d47baa7bdf421eaf7c6a4">

        <tr>
          <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify;">/s/ Kevin B. McNeill</div>
          </td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;">
            <div style="text-align: justify;">Kevin B. McNeill</div>
          </td>
          <td style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify;">Principal Financial Officer</div>
          </td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify;">July 7, 2020</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>7
<FILENAME>pcyo-20200531.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 7.0.0.0 Broadridge-->
<xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:country="http://xbrl.sec.gov/country/2020-01-31" xmlns:currency="http://xbrl.sec.gov/currency/2020-01-31" xmlns:naics="http://xbrl.sec.gov/naics/2017-01-31" xmlns:sic="http://xbrl.sec.gov/sic/2020-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2018-01-31" xmlns:exch="http://xbrl.sec.gov/exch/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:pcyo="http://purecyclewater.com/20200531" xmlns="http://www.xbrl.org/2003/instance">
  <link:schemaRef xlink:type="simple" xlink:href="pcyo-20200531.xsd" />
  <xbrli:context id="c20190901to20200531">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200702">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-07-02</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageOilAndGasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_MeteredWaterUsageMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageOilAndGasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterAndWastewaterTapFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageOilAndGasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_WastewaterTreatmentFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTreatmentFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageOilAndGasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_LotSalesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_ServiceOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">us-gaap:ServiceOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_LotSalesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_LotSalesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_MeteredWaterUsageMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_MeteredWaterUsageMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_ServiceOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">us-gaap:ServiceOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_MeteredWaterUsageMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:MeteredWaterUsageMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterAndWastewaterTapFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterAndWastewaterTapFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterAndWastewaterTapFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_WastewaterTreatmentFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTreatmentFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_ServiceOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">us-gaap:ServiceOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_ServiceOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">us-gaap:ServiceOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_WastewaterTreatmentFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTreatmentFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_WastewaterTreatmentFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTreatmentFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_LotSalesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CumulativeEffectPeriodOfAdoptionAxis">srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190228_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-28</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200229_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-02-29</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190228">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-28</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190228_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-28</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200229_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-02-29</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CumulativeEffectPeriodOfAdoptionAxis">srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CumulativeEffectPeriodOfAdoptionAxis">srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200229_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-02-29</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200229_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-02-29</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200229">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-02-29</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200229_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-02-29</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CumulativeEffectPeriodOfAdoptionAxis">srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CumulativeEffectPeriodOfAdoptionAxis">srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190228_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-28</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:CumulativeEffectPeriodOfAdoptionAxis">srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190228_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-28</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190228_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-02-28</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190531_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190531_StatementEquityComponentsAxis_PreferredStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190531_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementEquityComponentsAxis_CommonStockMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementEquityComponentsAxis_RetainedEarningsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190531">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200417_DebtInstrumentAxis_PaycheckProtectionProgramLoanMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">pcyo:PaycheckProtectionProgramLoanMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-04-17</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200513to20200513_DebtInstrumentAxis_PaycheckProtectionProgramLoanMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">pcyo:PaycheckProtectionProgramLoanMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-05-13</xbrli:startDate>
      <xbrli:endDate>2020-05-13</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_WastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_WastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_LotSalesFirstFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesFirstFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterTapFeesRecognizedExcludingWastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterTapFeesRecognizedExcludingWastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_LotSalesFirstFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesFirstFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_LotSalesSecondFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesSecondFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_ConsultingFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:ConsultingFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesFirstFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:SpecialFacilityFundingRecognizedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_ConsultingFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:ConsultingFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_ConsultingFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:ConsultingFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterTapFeesRecognizedExcludingWastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_LotSalesSecondFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesSecondFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesSecondFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WaterTapFeesRecognizedExcludingWastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_ConsultingFeesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:ConsultingFeesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:SpecialFacilityFundingRecognizedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:SpecialFacilityFundingRecognizedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesFirstFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_WastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:SpecialFacilityFundingRecognizedMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesSecondFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_WastewaterTapFeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:WastewaterTapFeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_ProductOrServiceAxis_LotSalesSecondFormatMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesSecondFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember_RangeAxis_MaximumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:LotSalesSecondFormatMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_RelatedPartyTransactionAxis_FacilitiesFundingAndAcquisitionAgreementMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:FacilitiesFundingAndAcquisitionAgreementMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20191119_LongtermDebtTypeAxis_SeniorNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:SeniorNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-11-19</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20191119_LongtermDebtTypeAxis_SeniorSubordinatedNotesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:SeniorSubordinatedNotesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-11-19</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20191119to20191119">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-11-19</xbrli:startDate>
      <xbrli:endDate>2019-11-19</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_ProjectManagementServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:ProjectManagementServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_ProductOrServiceAxis_ProjectManagementServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:ProjectManagementServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200831_ProductOrServiceAxis_PublicImprovementsMember_StatementScenarioAxis_ScenarioForecastMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:PublicImprovementsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_ProductOrServiceAxis_PublicImprovementsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:PublicImprovementsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_ProductOrServiceAxis_AccruedInterestMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:AccruedInterestMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200831_StatementScenarioAxis_ScenarioForecastMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_ProductOrServiceAxis_ConstructionSupportActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:ConstructionSupportActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190831">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190831_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190831_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:OilAndGasLeasesAndWaterSalesPaymentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:OilAndGasLeasesAndWaterSalesPaymentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:OilAndGasLeasesAndWaterSalesPaymentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:OilAndGasLeasesAndWaterSalesPaymentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:SkyRanchMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_ProductOrServiceAxis_OAndGLeaseMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:OAndGLeaseMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ProductOrServiceAxis_OAndGLeaseMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:OAndGLeaseMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ProductOrServiceAxis_OAndGLeaseMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:OAndGLeaseMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ProductOrServiceAxis_OAndGLeaseMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:OAndGLeaseMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ProductOrServiceAxis_OAndGLeaseMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:OAndGLeaseMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_ProductOrServiceAxis_OAndGLeaseMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">pcyo:OAndGLeaseMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20171031_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2017-10-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_StatementBusinessSegmentsAxis_OilAndGasMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">us-gaap:OilAndGasMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190731_CounterpartyNameAxis_BisonOilAndGasLlpMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:CounterpartyNameAxis">pcyo:BisonOilAndGasLlpMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-07-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:SkyRanchMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_RangeAxis_MaximumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20181130">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2018-11-30</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_AdjustmentsForNewAccountingPronouncementsAxis_AccountingStandardsUpdate201602Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:AdjustmentsForNewAccountingPronouncementsAxis">us-gaap:AccountingStandardsUpdate201602Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByMeasurementBasisAxis_EstimateOfFairValueFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementBasisAxis">us-gaap:EstimateOfFairValueFairValueDisclosureMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:USTreasurySecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:USTreasurySecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:USTreasurySecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:USTreasurySecuritiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByMeasurementBasisAxis_CarryingReportedAmountFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementBasisAxis">us-gaap:CarryingReportedAmountFairValueDisclosureMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:USTreasurySecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByMeasurementBasisAxis_CarryingReportedAmountFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementBasisAxis">us-gaap:CarryingReportedAmountFairValueDisclosureMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByMeasurementBasisAxis_EstimateOfFairValueFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementBasisAxis">us-gaap:EstimateOfFairValueFairValueDisclosureMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:USTreasurySecuritiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:FairValueByMeasurementFrequencyAxis">us-gaap:FairValueMeasurementsRecurringMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_WildPointeServiceRightsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:WildPointeServiceRightsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_LostCreekWaterSupplyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:LostCreekWaterSupplyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_FairgroundsWaterAndWaterSystemMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:FairgroundsWaterAndWaterSystemMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_WaterSupplyOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:WaterSupplyOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSupplyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:RangeviewWaterSupplyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_SkyRanchWaterRightsAndOtherCostsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:SkyRanchWaterRightsAndOtherCostsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_FairgroundsWaterAndWaterSystemMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:FairgroundsWaterAndWaterSystemMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_WaterSupplyOtherMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:WaterSupplyOtherMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_SkyRanchWaterRightsAndOtherCostsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:SkyRanchWaterRightsAndOtherCostsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSystemMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:RangeviewWaterSystemMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSystemMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:RangeviewWaterSystemMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSupplyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:RangeviewWaterSupplyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PropertyPlantAndEquipmentByTypeAxis_SkyRanchPipelineMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:SkyRanchPipelineMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:ConstructionInProgressMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_LostCreekWaterSupplyMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:LostCreekWaterSupplyMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_WildPointeServiceRightsMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:WildPointeServiceRightsMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PropertyPlantAndEquipmentByTypeAxis_SkyRanchPipelineMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">pcyo:SkyRanchPipelineMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:OtherMachineryAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:OtherMachineryAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:OtherMachineryAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:OtherMachineryAndEquipmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c19960410">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>1996-04-10</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c19960411to20190831">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>1996-04-11</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_RelatedPartyTransactionAxis_SouthMetroWiseAuthorityMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:SouthMetroWiseAuthorityMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WisePartnershipMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WisePartnershipMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WisePartnershipMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PlanNameAxis_EquityIncentivePlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:EquityIncentivePlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190927to20190927_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_SeniorManagementMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:SeniorManagementMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-27</xbrli:startDate>
      <xbrli:endDate>2019-09-27</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190925to20190925_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_EmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:EmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-25</xbrli:startDate>
      <xbrli:endDate>2019-09-25</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200115to20200115_TitleOfIndividualAxis_NonEmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:NonEmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-01-15</xbrli:startDate>
      <xbrli:endDate>2020-01-15</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_SeniorManagementMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:SeniorManagementMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_EmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:EmployeeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_RangeAxis_MaximumMember_TitleOfIndividualAxis_SeniorManagementMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:SeniorManagementMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_RangeAxis_MaximumMember_TitleOfIndividualAxis_EmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:EmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200115_TitleOfIndividualAxis_NonEmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:NonEmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-01-15</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_TitleOfIndividualAxis_NonEmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:NonEmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_TitleOfIndividualAxis_NonEmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:NonEmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_TitleOfIndividualAxis_NonEmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:NonEmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_TitleOfIndividualAxis_NonEmployeeMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:TitleOfIndividualAxis">pcyo:NonEmployeeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:PlanNameAxis">pcyo:IncentivePlan2004AndEquityPlan2014Member</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190831_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WisePartnershipMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20191201to20200229_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WisePartnershipMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-12-01</xbrli:startDate>
      <xbrli:endDate>2020-02-29</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RangeAxis_MaximumMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:LoansReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember_VariableRateAxis_PrimeRateMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">us-gaap:PrimeRateMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:LoansReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_NotesReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:NotesReceivableMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_RelatedPartyTransactionAxis_CommunityAuthorityBoardMember_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:SkyRanchMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:CommunityAuthorityBoardMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:LoansReceivableMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionAxis">pcyo:WaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:LoansReceivableMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerOneMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerThreeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerTwoMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerThreeMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RidgeviewYouthServicesCenterMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:ElbertHighway86CommercialDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:ElbertHighway86CommercialDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:ElbertHighway86CommercialDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RidgeviewYouthServicesCenterMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RidgeviewYouthServicesCenterMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RidgeviewYouthServicesCenterMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerOneMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerThreeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:ElbertHighway86CommercialDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerOneMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_OneOtherCustomerMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:OneOtherCustomerMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:ElbertHighway86CommercialDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:SkyRanchCommunityDevelopmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerOneMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerTwoMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:SkyRanchCommunityDevelopmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerTwoMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerTwoMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_OneOtherCustomerMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:OneOtherCustomerMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:ElbertHighway86CommercialDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RidgeviewYouthServicesCenterMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:SkyRanchCommunityDevelopmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:AccountsReceivableMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-08-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:SkyRanchCommunityDevelopmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerOneMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerOneMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerTwoMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerThreeMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RidgeviewYouthServicesCenterMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:CustomerOneMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:ConcentrationRiskByBenchmarkAxis">us-gaap:SalesRevenueNetMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:MajorCustomersAxis">pcyo:RangeviewDistrictMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:LandDevelopmentActivitiesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">pcyo:WholesaleWaterAndWastewaterServicesMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_ConsolidationItemsAxis_CorporateNonSegmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ConsolidationItemsAxis">us-gaap:CorporateNonSegmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20180901to20190531_ConsolidationItemsAxis_CorporateNonSegmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ConsolidationItemsAxis">us-gaap:CorporateNonSegmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2018-09-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_ConsolidationItemsAxis_CorporateNonSegmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ConsolidationItemsAxis">us-gaap:CorporateNonSegmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190301to20190531_ConsolidationItemsAxis_CorporateNonSegmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ConsolidationItemsAxis">us-gaap:CorporateNonSegmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-03-01</xbrli:startDate>
      <xbrli:endDate>2019-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200531_ConsolidationItemsAxis_CorporateNonSegmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ConsolidationItemsAxis">us-gaap:CorporateNonSegmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2020-05-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190831_ConsolidationItemsAxis_CorporateNonSegmentMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:ConsolidationItemsAxis">us-gaap:CorporateNonSegmentMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:instant>2019-08-31</xbrli:instant>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:DomesticCountryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:DomesticCountryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20200301to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:StateAndLocalJurisdictionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2020-03-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:StateAndLocalJurisdictionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember_RangeAxis_MinimumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:DomesticCountryMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember_RangeAxis_MaximumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:DomesticCountryMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember_RangeAxis_MaximumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:StateAndLocalJurisdictionMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="c20190901to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember_RangeAxis_MinimumMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000276720</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:StateAndLocalJurisdictionMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-09-01</xbrli:startDate>
      <xbrli:endDate>2020-05-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:unit id="U001">
    <xbrli:measure>xbrli:shares</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U002">
    <xbrli:measure>iso4217:USD</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U003">
    <xbrli:divide>
      <xbrli:unitNumerator>
        <xbrli:measure>iso4217:USD</xbrli:measure>
      </xbrli:unitNumerator>
      <xbrli:unitDenominator>
        <xbrli:measure>xbrli:shares</xbrli:measure>
      </xbrli:unitDenominator>
    </xbrli:divide>
  </xbrli:unit>
  <xbrli:unit id="U004">
    <xbrli:measure>utr:acre</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U005">
    <xbrli:measure>pcyo:BusinessLine</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U006">
    <xbrli:measure>pcyo:Source</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U007">
    <xbrli:measure>utr:gal</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U008">
    <xbrli:measure>xbrli:pure</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U009">
    <xbrli:measure>pcyo:HomeBuilders</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U010">
    <xbrli:measure>pcyo:Lot</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U011">
    <xbrli:measure>pcyo:Agreement</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U012">
    <xbrli:measure>pcyo:Well</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U013">
    <xbrli:measure>pcyo:Customer</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U014">
    <xbrli:measure>pcyo:Assets</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U015">
    <xbrli:measure>pcyo:Liabilities</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U016">
    <xbrli:measure>pcyo:Member</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U017">
    <xbrli:measure>utr:aft</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U018">
    <xbrli:measure>utr:sqft</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U019">
    <xbrli:measure>pcyo:BoardMember</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U020">
    <xbrli:measure>pcyo:Employee</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="U021">
    <xbrli:measure>pcyo:Segment</xbrli:measure>
  </xbrli:unit>
  <!--Area of Land-->
  <us-gaap:AreaOfLand id="Fact_429f3ac2f1cd48f08dc2ca5f671cc19a" contextRef="c20200531" unitRef="U004" decimals="INF">930</us-gaap:AreaOfLand>
  <!--Area of office and warehouse-->
  <us-gaap:AreaOfRealEstateProperty id="Fact_2d886bf7d98d4ec5b751a1cb4310433e" contextRef="c20200531" unitRef="U018" decimals="INF">11393</us-gaap:AreaOfRealEstateProperty>
  <!--Accounts payable-->
  <us-gaap:AccountsPayableCurrent id="Fact_4b121e1da823406b8ce184c36eb85319" contextRef="c20190831" unitRef="U002" decimals="0">170822</us-gaap:AccountsPayableCurrent>
  <!--Accounts payable-->
  <us-gaap:AccountsPayableCurrent id="Fact_b9cc9487bcfa4626b5edf3e4b02146fb" contextRef="c20200531" unitRef="U002" decimals="0">207348</us-gaap:AccountsPayableCurrent>
  <!--Accounts Payable and Accrued Liabilities Disclosure [Text Block]-->
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock id="Fact_1d66ef054efe48f1ad446f390675f4e6" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 8 &amp;#8211; ACCRUED LIABILITIES&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;At May 31, 2020, the Company had accrued liabilities of $1,273,600, of which $70,200 was for current operating lease obligations, $111,100 was for estimated property taxes, $35,100 was for professional fees, and $1,057,200 was for operating payables, of which $142,400 is payable to the Rangeview Metropolitan District for water infrastructure capital projects and $487,500 is payable to the CAB for the development of Sky Ranch. The Sky Ranch development costs are also included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; or expensed through &lt;font style="font-style: italic;"&gt;Land development construction costs&lt;/font&gt;.&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;At August 31, 2019, the Company had accrued liabilities of $3,428,400, of which $460,500 was for accrued compensation, $94,000 was for estimated property taxes, $70,000 was for professional fees and the remaining $2,803,900 was related to operating payables, of which $1,399,600 is payable to the CAB for the development of Sky Ranch and $930,900 is payable to the Rangeview District for water infrastructure capital projects. The Sky Ranch development costs were also included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; or expensed through &lt;font style="font-style: italic;"&gt;Land development construction costs&lt;/font&gt;.&lt;/div&gt;&lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <!--Accrued liabilities - related parties-->
  <us-gaap:AccountsPayableRelatedPartiesCurrent id="Fact_1738a01ea18247eaa9fa52ebb934c476" contextRef="c20190831" unitRef="U002" decimals="0">2330496</us-gaap:AccountsPayableRelatedPartiesCurrent>
  <!--Accrued liabilities - related parties-->
  <us-gaap:AccountsPayableRelatedPartiesCurrent id="Fact_b2201c1ff74c4aa28e396af4b0f6bf40" contextRef="c20200531" unitRef="U002" decimals="0">629848</us-gaap:AccountsPayableRelatedPartiesCurrent>
  <!--Trade accounts receivable, net-->
  <us-gaap:AccountsReceivableNetCurrent id="Fact_189f872c07404acca17d5cd434c8d911" contextRef="c20190831" unitRef="U002" decimals="0">1099631</us-gaap:AccountsReceivableNetCurrent>
  <!--Trade accounts receivable, net-->
  <us-gaap:AccountsReceivableNetCurrent id="Fact_e71f4928469c4fab8e19d2c2cc7ddc87" contextRef="c20200531" unitRef="U002" decimals="0">645130</us-gaap:AccountsReceivableNetCurrent>
  <!--Estimated property taxes-->
  <us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent id="Fact_b3bd250fdb1847f6b352731d8c8d29ba" contextRef="c20190831" unitRef="U002" decimals="0">94000</us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent>
  <!--Estimated property taxes-->
  <us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent id="Fact_f5d81646a72347f8b5a8422d52c48447" contextRef="c20200531" unitRef="U002" decimals="0">111100</us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent>
  <!--Accrued compensation-->
  <us-gaap:AccruedSalariesCurrent id="Fact_5917fecbc0d1463991054bc439fbf268" contextRef="c20190831" unitRef="U002" decimals="0">460500</us-gaap:AccruedSalariesCurrent>
  <!--Accrued liabilities-->
  <us-gaap:AccruedLiabilitiesCurrent id="Fact_f9c98117e7bd45d0875eee742d773886" contextRef="c20200531" unitRef="U002" decimals="0">1273600</us-gaap:AccruedLiabilitiesCurrent>
  <!--Accrued liabilities-->
  <us-gaap:AccruedLiabilitiesCurrent id="Fact_fbb87e67a3bf478b8bf72ca723fe3e4a" contextRef="c20190831" unitRef="U002" decimals="0">3428400</us-gaap:AccruedLiabilitiesCurrent>
  <!--Professional fees-->
  <us-gaap:AccruedProfessionalFeesCurrent id="Fact_0d23e3f279834e12a5683a33d823d1b2" contextRef="c20200531" unitRef="U002" decimals="0">35100</us-gaap:AccruedProfessionalFeesCurrent>
  <!--Professional fees-->
  <us-gaap:AccruedProfessionalFeesCurrent id="Fact_f394a8ae49ec463994758580ab26f2cc" contextRef="c20190831" unitRef="U002" decimals="0">70000</us-gaap:AccruedProfessionalFeesCurrent>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Construction in Progress [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_0bed81440e904ae099df01e8ad09521b" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember" unitRef="U002" decimals="0">0</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Water Supply - Other [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_0c14d2ee49f8404caf4aefd60b887c06" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_WaterSupplyOtherMember" unitRef="U002" decimals="0">860100</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Fairgrounds Water And Water System [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_0d01334d0ad84606a0c5b24592867fc0" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_FairgroundsWaterAndWaterSystemMember" unitRef="U002" decimals="0">1216900</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Wild Pointe Service Rights [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_217f4db8ed634f87a08d4c7a8cdef810" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_WildPointeServiceRightsMember" unitRef="U002" decimals="0">489800</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Construction in Progress [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_32a4d0fa0e644618bbbed28c243a259a" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember" unitRef="U002" decimals="0">0</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Water Supply - Other [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_3a365f161b2148fb927286185e54a4b3" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_WaterSupplyOtherMember" unitRef="U002" decimals="0">1036600</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Lost Creek water supply [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_44a818d22b7d498fb7d48bf70c46869a" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_LostCreekWaterSupplyMember" unitRef="U002" decimals="0">0</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Fairgrounds Water And Water System [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_4dc7294898e44454b595a278906d8bc5" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_FairgroundsWaterAndWaterSystemMember" unitRef="U002" decimals="0">1151000</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Wild Pointe Service Rights [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_4f78bcc0e65e4b35bb0ff7ea5d378f0a" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_WildPointeServiceRightsMember" unitRef="U002" decimals="0">677300</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Sky Ranch pipeline [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_5ab50cfe32d34cf08aaf70dee07ae8bc" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_SkyRanchPipelineMember" unitRef="U002" decimals="0">411600</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Rangeview Water System [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_654c552dc1f24fb5a735dada9ef81e12" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSystemMember" unitRef="U002" decimals="0">372300</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Sky Ranch pipeline [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_668fb79ca5824a8b96c5c13d9965f87d" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_SkyRanchPipelineMember" unitRef="U002" decimals="0">554700</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Sky Ranch Water Rights And Other Costs [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_79eedb5a7d9343508a952cf1a5559423" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_SkyRanchWaterRightsAndOtherCostsMember" unitRef="U002" decimals="0">926400</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Sky Ranch Water Rights And Other Costs [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_84729741d46d4a4bba03b6bbf198056b" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_SkyRanchWaterRightsAndOtherCostsMember" unitRef="U002" decimals="0">757400</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_91fd3f489c264a91a11b0d3d0a67f269" contextRef="c20200531" unitRef="U002" decimals="0">5075600</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Rangeview Water Supply [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_960b7ddb2bae402b948fdb0f2886d05f" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSupplyMember" unitRef="U002" decimals="0">15200</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Lost Creek water supply [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_9ffc7cce66fa476f86f35e2ccc7439b5" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_LostCreekWaterSupplyMember" unitRef="U002" decimals="0">0</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Rangeview Water Supply [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_aad11513cb714ac2a61c44c5e7a7ad47" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSupplyMember" unitRef="U002" decimals="0">14700</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_e661c7b4dc5d41b09ead1b6682bee93d" contextRef="c20190831" unitRef="U002" decimals="0">4056900</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment-Rangeview Water System [Member]-->
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Fact_e860a0b6616448fa8fb86e0de760beef" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSystemMember" unitRef="U002" decimals="0">648500</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <!--Accumulated other comprehensive income-->
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax id="Fact_b95659699b364eae96ab326ec47532b0" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
  <!--Accumulated other comprehensive income-->
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax id="Fact_d8f01f03803c4f12902fd0c3c01ca2ea" contextRef="c20190831" unitRef="U002" decimals="0">3891</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
  <!--Additional paid-in capital-->
  <us-gaap:AdditionalPaidInCapital id="Fact_9428f41e0de34249afe402d7bb10d7ff" contextRef="c20190831" unitRef="U002" decimals="0">172360413</us-gaap:AdditionalPaidInCapital>
  <!--Additional paid-in capital-->
  <us-gaap:AdditionalPaidInCapital id="Fact_b00699e5cc8e470382a479581c2960d9" contextRef="c20200531" unitRef="U002" decimals="0">172835457</us-gaap:AdditionalPaidInCapital>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-AOCI Attributable to Parent [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_05036d0751d444eabd5ee8e1152ec41c" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Retained Earnings [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_0d7173088103445dad8cd7de20a6660e" contextRef="c20200301to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-AOCI Attributable to Parent [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_0da9603dc4c34df99318cad0dd643c0b" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Retained Earnings [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_11c2e1c57839465c91035b5241bf5903" contextRef="c20190301to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_1884f016861e41d9a5c0be99dd5ec9e3" contextRef="c20180901to20190531" unitRef="U002" decimals="0">257813</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Additional Paid-in Capital [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_29515d1c48804869baf42ed34ddc6c1c" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">285709</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Additional Paid-in Capital [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_2cb6f63a33ca40669a1d6753c623bb09" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">81915</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Preferred Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_2df418e41a6143dbba091121949e8c8b" contextRef="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Common Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_305b407580164bc0b85b2244371b5678" contextRef="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Common Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_463a4b3c721f40e7851d2e290a1133ca" contextRef="c20190301to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Additional Paid-in Capital [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_4a18612a7fa4457aa0cc1171805b03f6" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">257813</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Retained Earnings [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_4dbafa1dfe2b43329675317743adf05b" contextRef="c20180901to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_627c19dc912343179d7814b98b04d650" contextRef="c20190901to20200531" unitRef="U002" decimals="0">285709</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Preferred Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_815e5e6f958244d2a31ba10b7b66b8fb" contextRef="c20180901to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Retained Earnings [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_9cf40e3a4b8f442681cd0a78fd7652ba" contextRef="c20190901to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Common Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_a0b20b31131f405abee6ddb2ab821f1d" contextRef="c20180901to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Additional Paid-in Capital [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_a25ef88a95d14a258d5dd9459ea01003" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">96096</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Common Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_a7c86ad7d1f9418ab19c1c241ef68627" contextRef="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_ac2a119035844c1ab13a7c4d523304f3" contextRef="c20200301to20200531" unitRef="U002" decimals="0">81915</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Preferred Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_ad62982369ab42a2bcd21c52478d4e2f" contextRef="c20190301to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-AOCI Attributable to Parent [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_b34a2a4f34484c169dae8020f1abe7ab" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-AOCI Attributable to Parent [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_d9d454b78b5142cdad2a1f3271c6c8af" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_dd1e2803919f4896b125b31b774fcee5" contextRef="c20190301to20190531" unitRef="U002" decimals="0">96096</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition-Preferred Stock [Member]-->
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition id="Fact_f549289b48554c50a1a82d1855177f8a" contextRef="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition>
  <!--Anti-dilutive securities excluded from calculation of income per common share (in shares)-->
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Fact_a5726bb95e1c412d9038f25877afbe3f" contextRef="c20190901to20200531" unitRef="U001" decimals="INF">0</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <!--Anti-dilutive securities excluded from calculation of income per common share (in shares)-->
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Fact_ab46d38af5ef4264aa9cfeb9e1eb8db3" contextRef="c20200301to20200531" unitRef="U001" decimals="INF">180000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <!--Anti-dilutive securities excluded from calculation of income per common share (in shares)-->
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Fact_b2d530bedcbc4897af9d27525b4c0b72" contextRef="c20190301to20190531" unitRef="U001" decimals="INF">50000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <!--Anti-dilutive securities excluded from calculation of income per common share (in shares)-->
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Fact_cc5db13d88ba409d85575145151c86c8" contextRef="c20180901to20190531" unitRef="U001" decimals="INF">50000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <!--Assets measured at fair value-Recurring [Member]-->
  <us-gaap:AssetsFairValueDisclosure id="Fact_2a12f931e6a240f8ad7899982fcaa224" contextRef="c20200531_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">0</us-gaap:AssetsFairValueDisclosure>
  <!--Assets measured at fair value-Significant Unobservable Inputs (Level 3) [Member]-Recurring [Member]-->
  <us-gaap:AssetsFairValueDisclosure id="Fact_02fd88c88249456698129a599100e57e" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">0</us-gaap:AssetsFairValueDisclosure>
  <!--Assets measured at fair value-Significant Other Observable Inputs (Level 2) [Member]-Recurring [Member]-->
  <us-gaap:AssetsFairValueDisclosure id="Fact_1675c912b83e42a58fceed886f1cf094" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">4996000</us-gaap:AssetsFairValueDisclosure>
  <!--Assets measured at fair value-Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]-Recurring [Member]-->
  <us-gaap:AssetsFairValueDisclosure id="Fact_3a6065d95e424b87a36f13a7fa4a662c" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">0</us-gaap:AssetsFairValueDisclosure>
  <!--Assets measured at fair value-Cost / Other Value [Member]-Recurring [Member]-->
  <us-gaap:AssetsFairValueDisclosure id="Fact_a7f83a041d2d4da3b589625857d41fc0" contextRef="c20190831_FairValueByMeasurementBasisAxis_CarryingReportedAmountFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">4992100</us-gaap:AssetsFairValueDisclosure>
  <!--Assets measured at fair value-Recurring [Member]-->
  <us-gaap:AssetsFairValueDisclosure id="Fact_ea054ddc46224d76b535c16a9455cb57" contextRef="c20190831_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">3900</us-gaap:AssetsFairValueDisclosure>
  <!--Assets measured at fair value-Fair Value [Member]-Recurring [Member]-->
  <us-gaap:AssetsFairValueDisclosure id="Fact_ef4345c3b1ad4b4394c736ed64151b8c" contextRef="c20190831_FairValueByMeasurementBasisAxis_EstimateOfFairValueFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">4996000</us-gaap:AssetsFairValueDisclosure>
  <!--Assets-->
  <us-gaap:Assets id="Fact_69bc6bb8f1784a499ce30a213c304917" contextRef="c20190831" unitRef="U002" decimals="0">83721404</us-gaap:Assets>
  <!--Assets-->
  <us-gaap:Assets id="Fact_dac032a68489443e811fd0df4847ac51" contextRef="c20200531" unitRef="U002" decimals="0">88209073</us-gaap:Assets>
  <!--Assets-Corporate, Non-Segment [Member]-->
  <us-gaap:Assets id="Fact_715426206c6f443681c9ffb635a4efdc" contextRef="c20200531_ConsolidationItemsAxis_CorporateNonSegmentMember" unitRef="U002" decimals="0">22466167</us-gaap:Assets>
  <!--Assets-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:Assets id="Fact_bdb5481757854728a832ca0dde0d5035" contextRef="c20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">56244054</us-gaap:Assets>
  <!--Assets-Land Development Activities [Member]-->
  <us-gaap:Assets id="Fact_c21cbd356dc24a8ebaf54a2b5d81ec6a" contextRef="c20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">9498852</us-gaap:Assets>
  <!--Assets-Corporate, Non-Segment [Member]-->
  <us-gaap:Assets id="Fact_c720f491e8c64e1db732332e412eb866" contextRef="c20190831_ConsolidationItemsAxis_CorporateNonSegmentMember" unitRef="U002" decimals="0">15266783</us-gaap:Assets>
  <!--Assets-Land Development Activities [Member]-->
  <us-gaap:Assets id="Fact_c78b2ca589f24ffa99597c25b6607e02" contextRef="c20190831_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">16866542</us-gaap:Assets>
  <!--Assets-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:Assets id="Fact_f60389cc094641d09a11a5b7483c0463" contextRef="c20190831_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">51588079</us-gaap:Assets>
  <!--Assets, Current-->
  <us-gaap:AssetsCurrent id="Fact_0f43aaa31d1f4279bb0530f016ca56cf" contextRef="c20200531" unitRef="U002" decimals="0">23002535</us-gaap:AssetsCurrent>
  <!--Assets, Current-->
  <us-gaap:AssetsCurrent id="Fact_badd497ceba5491fa632507e30ab6aee" contextRef="c20190831" unitRef="U002" decimals="0">23537737</us-gaap:AssetsCurrent>
  <!--Available-for-sale securities-Fair Value [Member]-U.S. Treasury Debt Securities [Member]-Recurring [Member]-->
  <us-gaap:AvailableForSaleSecuritiesDebtSecurities id="Fact_0518f4e156614e1a880d5f692ec86b9d" contextRef="c20190831_FairValueByMeasurementBasisAxis_EstimateOfFairValueFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember" unitRef="U002" decimals="0">4996000</us-gaap:AvailableForSaleSecuritiesDebtSecurities>
  <!--Available-for-sale securities-Recurring [Member]-Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]-U.S. Treasury Debt Securities [Member]-->
  <us-gaap:AvailableForSaleSecuritiesDebtSecurities id="Fact_31ffce1e2f4b48ab932147c500e2b95f" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember" unitRef="U002" decimals="0">0</us-gaap:AvailableForSaleSecuritiesDebtSecurities>
  <!--Available-for-sale securities-Recurring [Member]-U.S. Treasury Debt Securities [Member]-Significant Other Observable Inputs (Level 2) [Member]-->
  <us-gaap:AvailableForSaleSecuritiesDebtSecurities id="Fact_4450fdc17ade40a9a3b72739b2ee93b8" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember" unitRef="U002" decimals="0">4996000</us-gaap:AvailableForSaleSecuritiesDebtSecurities>
  <!--Available-for-sale securities-Significant Unobservable Inputs (Level 3) [Member]-Recurring [Member]-U.S. Treasury Debt Securities [Member]-->
  <us-gaap:AvailableForSaleSecuritiesDebtSecurities id="Fact_b9f88eebf336467190b5368302998d1e" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember" unitRef="U002" decimals="0">0</us-gaap:AvailableForSaleSecuritiesDebtSecurities>
  <!--Available-for-sale securities-Cost / Other Value [Member]-U.S. Treasury Debt Securities [Member]-Recurring [Member]-->
  <us-gaap:AvailableForSaleSecuritiesDebtSecurities id="Fact_f778e6b2115f4aa3b0938f0016eec7b2" contextRef="c20190831_FairValueByMeasurementBasisAxis_CarryingReportedAmountFairValueDisclosureMember_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember" unitRef="U002" decimals="0">4992100</us-gaap:AvailableForSaleSecuritiesDebtSecurities>
  <!--Basis of Accounting, Policy [Policy Text Block]-->
  <us-gaap:BasisOfAccountingPolicyPolicyTextBlock id="Fact_77e392d47bcb409eb4731ab32caf279e" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify;"&gt;The May 31, 2020 consolidated balance sheet, the consolidated statements of operations and comprehensive income for the three and nine months ended May 31, 2020 and 2019, the consolidated statements of shareholders&amp;#8217; equity for the three and nine months ended May 31, 2020 and 2019, and the consolidated statements of cash flows for the nine months ended May 31, 2020 and 2019 have been prepared by Pure Cycle Corporation (the &amp;#8220;Company&amp;#8221;) and have not been audited. The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows at May 31, 2020, and for all periods presented.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#8220;GAAP&amp;#8221;) have been condensed or omitted. It is suggested that the accompanying consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company&amp;#8217;s Annual Report on Form 10-K for the fiscal year ended August 31, 2019 (the &amp;#8220;2019 Annual Report&amp;#8221;) filed with the Securities and Exchange Commission (the &amp;#8220;SEC&amp;#8221;) on November 12, 2019. The results of operations for interim periods presented are not necessarily indicative of the operating results expected for the full fiscal year. The August 31, 2019 balance sheet was derived from the Company&amp;#8217;s audited consolidated financial statements.&lt;/div&gt;&lt;/div&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
  <!--Cash and Cash Equivalents, at Carrying Value-->
  <us-gaap:CashAndCashEquivalentsAtCarryingValue id="Fact_7fd4c0dfbdca4a8e8631f0c8b1e66a39" contextRef="c20200531" unitRef="U002" decimals="0">17074761</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <!--Cash and Cash Equivalents, at Carrying Value-->
  <us-gaap:CashAndCashEquivalentsAtCarryingValue id="Fact_eca37928d2374ca984b481c8f5ef0fb4" contextRef="c20190831" unitRef="U002" decimals="0">4478020</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <!--Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect-->
  <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect id="Fact_22659f85a8db47aca87bcd681218926f" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-7983728</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect>
  <!--Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect-->
  <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect id="Fact_b92159ab41ba4a7baff02ad65c095476" contextRef="c20190901to20200531" unitRef="U002" decimals="0">12596741</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect>
  <!--Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents-->
  <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents id="Fact_49a22215ae9a428bbe6ee3d7ecd449f0" contextRef="c20180831" unitRef="U002" decimals="0">11565038</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
  <!--Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents-->
  <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents id="Fact_7372a3298fe541c1a2db94570159dc83" contextRef="c20190831" unitRef="U002" decimals="0">4478020</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
  <!--Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents-->
  <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents id="Fact_0be2be50d23f4747b77f89515f78cdfb" contextRef="c20200531" unitRef="U002" decimals="0">17074761</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
  <!--Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents-->
  <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents id="Fact_f4a725ff49544e5c8bf6149da7e79349" contextRef="c20190531" unitRef="U002" decimals="0">3581310</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
  <!--Cash and Cash Equivalents, Policy [Policy Text Block]-->
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock id="Fact_a83f2c65077f4515b23718749fed0f77" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Cash and Cash Equivalents&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less. The Company&amp;#8217;s cash equivalents are comprised entirely of money market funds maintained at a reputable financial institution and U.S. Treasury debt securities. At various times during the three months ended May 31, 2020, the Company&amp;#8217;s main operating account exceeded federally insured limits. To date, the Company has not suffered a loss due to such excess balance.&lt;/div&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <!--Commitments and Contingencies Disclosure [Text Block]-->
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock id="Fact_379fe7f234a84ee888ec97ed0cfc919a" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 9 &amp;#8211; COMMITMENTS AND CONTINGENCIES&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company has historically been involved in various claims, litigation and other legal proceedings that arise in the ordinary course of its business. The Company records an accrual for a material loss contingency when its occurrence is probable and damages can be reasonably estimated based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. The Company makes such estimates based on information known about the claims and experience in contesting, litigating and settling similar claims. Disclosures are also provided for reasonably possible losses that could have a material effect on the Company&amp;#8217;s financial position, results of operations or cash flows. The Company was not involved in litigation or other legal proceedings and had no contingencies where the risk of material loss was reasonably possible as of May 31, 2020, or August 31, 2019.&lt;/div&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <!--Common stock, par value (in dollars per share)-->
  <us-gaap:CommonStockParOrStatedValuePerShare id="Fact_893be455e80f40b7821dd78683882346" contextRef="c20190831" unitRef="U003" decimals="INF">0.003</us-gaap:CommonStockParOrStatedValuePerShare>
  <!--Common stock, par value (in dollars per share)-->
  <us-gaap:CommonStockParOrStatedValuePerShare id="Fact_b17cb32d20db44dc80725fa27f342c11" contextRef="c20200531" unitRef="U003" decimals="INF">0.003</us-gaap:CommonStockParOrStatedValuePerShare>
  <!--Common stock, shares authorized (in shares)-->
  <us-gaap:CommonStockSharesAuthorized id="Fact_22dd6e76f7e542e596d7d4c2a939b67e" contextRef="c20200531" unitRef="U001" decimals="-6">40000000</us-gaap:CommonStockSharesAuthorized>
  <!--Common stock, shares authorized (in shares)-->
  <us-gaap:CommonStockSharesAuthorized id="Fact_4131198105244409b51e417caf3edaf5" contextRef="c20190831" unitRef="U001" decimals="-6">40000000</us-gaap:CommonStockSharesAuthorized>
  <!--Common stock, Par value 1/3 of $.01 per share, 40 million shares authorized; 23,853,598 and 23,826,598 shares outstanding, respectively-->
  <us-gaap:CommonStockValueOutstanding id="Fact_58b8d10f393f4707b31210120e3c52ee" contextRef="c20200531" unitRef="U002" decimals="0">79517</us-gaap:CommonStockValueOutstanding>
  <!--Common stock, Par value 1/3 of $.01 per share, 40 million shares authorized; 23,853,598 and 23,826,598 shares outstanding, respectively-->
  <us-gaap:CommonStockValueOutstanding id="Fact_f9ecaa786d5e48f7b308eddad6ede9e0" contextRef="c20190831" unitRef="U002" decimals="0">79427</us-gaap:CommonStockValueOutstanding>
  <!--Common stock, shares outstanding (in shares)-->
  <us-gaap:CommonStockSharesOutstanding id="Fact_7b343703d84946b5a2dcd51b39f1cc7c" contextRef="c20200531" unitRef="U001" decimals="INF">23853598</us-gaap:CommonStockSharesOutstanding>
  <!--Common stock, shares outstanding (in shares)-->
  <us-gaap:CommonStockSharesOutstanding id="Fact_ba63a9d68c83426dbc3caeeac8b5e26b" contextRef="c20190831" unitRef="U001" decimals="INF">23826598</us-gaap:CommonStockSharesOutstanding>
  <!--Comprehensive Income (Loss), Net of Tax, Attributable to Parent-->
  <us-gaap:ComprehensiveIncomeNetOfTax id="Fact_3938783043ce4229a9ac802c4c7d442d" contextRef="c20190301to20190531" unitRef="U002" decimals="0">1261340</us-gaap:ComprehensiveIncomeNetOfTax>
  <!--Comprehensive Income (Loss), Net of Tax, Attributable to Parent-->
  <us-gaap:ComprehensiveIncomeNetOfTax id="Fact_72caaba50eab4ac08e287b6c5668f020" contextRef="c20200301to20200531" unitRef="U002" decimals="0">27104</us-gaap:ComprehensiveIncomeNetOfTax>
  <!--Comprehensive Income (Loss), Net of Tax, Attributable to Parent-->
  <us-gaap:ComprehensiveIncomeNetOfTax id="Fact_a0957f74b3524849990c60d988e1712a" contextRef="c20190901to20200531" unitRef="U002" decimals="0">6059829</us-gaap:ComprehensiveIncomeNetOfTax>
  <!--Comprehensive Income (Loss), Net of Tax, Attributable to Parent-->
  <us-gaap:ComprehensiveIncomeNetOfTax id="Fact_bdfc5eb9f15247cbadd4e04e2b537e02" contextRef="c20180901to20190531" unitRef="U002" decimals="0">1745528</us-gaap:ComprehensiveIncomeNetOfTax>
  <!--Concentration Risk Disclosure [Text Block]-->
  <us-gaap:ConcentrationRiskDisclosureTextBlock id="Fact_bb674172e4554bf0b185ff36a2aa1fd4" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 7 &amp;#8211; SIGNIFICANT CUSTOMERS&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-style: italic; font-weight: bold;"&gt;Water and Wastewater&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;Pursuant to the Rangeview Water Agreements (defined in Note 4 &amp;#8211; &lt;/font&gt;&lt;font style="background-color: #FFFFFF; font-style: italic; color: #000000;"&gt;Water and Land Assets&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; in Part II, Item 8 of the 2019 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&amp;#8217;s behalf to the Rangeview District&amp;#8217;s customers. Sales to the Rangeview District accounted for 72% and 6% of the Company&amp;#8217;s total water and wastewater revenues for the three months ended &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2020&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; and &lt;/font&gt;&lt;font style="color: #000000;"&gt;2019&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; respectively. Sales to the Rangeview District accounted for 68% and 5% of the Company&amp;#8217;s total water and wastewater revenues for the &lt;/font&gt;&lt;font style="color: #000000;"&gt;nine&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; months ended &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2020&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; and &lt;/font&gt;&lt;font style="color: #000000;"&gt;2019&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;, respectively.&lt;/font&gt;&amp;#160;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;The Rangeview District has three significant customers, the Ridgeview Youth Services Center (&amp;#8220;Ridgeview&amp;#8221;), Sky Ranch Community Development (&amp;#8220;Sky Ranch&amp;#8221;) and Elbert &amp;amp; Highway 86 Commercial District (&amp;#8220;Wild Pointe&amp;#8221;). The Rangeview District&amp;#8217;s significant customers accounted for 21%, 39% and 10%, respectively, of the Company&amp;#8217;s total water and wastewater revenues for the three months ended &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2020&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;, and 2%, 0% and 4%, respectively, for the three months ended May 31, &lt;/font&gt;&lt;font style="color: #000000;"&gt;2019&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;. Ridgeview, Sky Ranch and Wild Pointe accounted for 27%, 24% and 13%, respectively, and 3%, 0% and 2%, respectively, for the &lt;/font&gt;&lt;font style="color: #000000;"&gt;nine&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; months ended &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2020&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; and &lt;/font&gt;&lt;font style="color: #000000;"&gt;2019&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Revenues related to the provision of water for the oil and gas industry to one customer accounted for 11% of the Company&amp;#8217;s water and wastewater revenues for the three months ended May 31, 2020. Revenues related to the provision of water for the oil and gas industry to one customer represented 93% of the Company&amp;#8217;s water and wastewater revenues for the three months ended May 31, 2019. Revenues related to the provision of water for the oil and gas industry to one customer represented approximately 19% of the Company&amp;#8217;s water and wastewater revenues for the nine months ended May 31, 2020. Revenues related to the provision of water for the oil and gas industry to two customers represented 67% and 25%, respectively, for the nine months ended May 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-style: italic; font-weight: bold;"&gt;Land Development&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Revenues from two customers represented 100% of the Company&amp;#8217;s lot sales revenues for the three months ended May 31, 2020. The two customers represented 67% and 33%, respectively, of the Company&amp;#8217;s lot sales revenues for the three months ended May 31, 2020. Revenues from three customers represented 100% of the Company&amp;#8217;s lot sales revenues for the three months ended May 31, 2019. The three customers represented 65%, 25% and 10%, respectively, of the Company&amp;#8217;s lot sales revenues for the three months ended May 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Revenues from three customers represented 100% of the Company&amp;#8217;s lot sales revenues for the nine months ended May 31, 2020 and May 31, 2019. The three customers represented 61%, 25% and 14%, respectively, of the Company&amp;#8217;s land development revenues for the nine months ended May 31, 2020 and 45%, 34% and 21%, respectively, of the Company&amp;#8217;s lot sales revenues for the nine months ended May 31, 2019.&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="font-style: italic; font-weight: bold;"&gt;Accounts Receivable&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company had accounts receivable from the Rangeview District which accounted for 76% and 40% of the Company&amp;#8217;s trade receivables balances at May 31, 2020 and August 31, 2019, respectively. The Company had accounts receivable from one other customer which accounted for approximately 10% and 57% of its trade receivable balances at May 31, 2020 and August 31, 2019, respectively. Accounts receivable from &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;Ridgeview &lt;/font&gt;accounted for 7% and 5% of the Company&amp;#8217;s water and wastewater trade receivables as of May 31, 2020 and August 31, 2019, respectively. Accounts receivable from &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;Wild Pointe&lt;/font&gt; accounted for 18% and 0% of the Company&amp;#8217;s water and wastewater trade receivables as of May 31, 2020 and August 31, 2019, respectively.&lt;/div&gt;&lt;/div&gt;</us-gaap:ConcentrationRiskDisclosureTextBlock>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Sales [Member]-Rangeview District [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_05eef3bb8f104c67a41eda1e458e5d1c" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.68</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Customer One [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_0b001102df7d4ecaa89f3fda20805db9" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.19</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Land Development Activities [Member]-Customer Three [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_0c95fb5477c24f029f8e53909079d60f" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.1</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Customer Two [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_1c1d67e90a7343d9bf61358ed477d736" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.67</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Customer Three [Member]-Wholesale Water and Wastewater Services [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_24f0d9d49dd54cd6998c2881a3b4f690" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.25</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Accounts Receivable [Member]-Wholesale Water and Wastewater Services [Member]-Ridgeview Youth Services Center [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_2dc35107506a4aedbc8ca8df93450d2b" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.07</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Elbert & Highway 86 Commercial District [Member]-Revenue [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_33d382c73c70443c82adbe657ca85fbb" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.13</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Revenue [Member]-Elbert & Highway 86 Commercial District [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_36c223b230374c06bb8eba2496ec4ab5" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.02</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Accounts Receivable [Member]-Wholesale Water and Wastewater Services [Member]-Elbert & Highway 86 Commercial District [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_4d7ba313d2de4d7594ad7d897b976e97" contextRef="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Accounts Receivable [Member]-Ridgeview Youth Services Center [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_4f80ed17f6a34c1d94ca255fb0b86b5e" contextRef="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.05</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Accounts Receivable [Member]-Rangeview District [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_5bc90aabacba4829895310cc7eda8eac" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.76</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Ridgeview Youth Services Center [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_62c9505b47854035830d2ea1e3b3cf11" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.03</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Ridgeview Youth Services Center [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_64ad1594c45a49ec96170a70dac61941" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.02</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Land Development Activities [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_666a291f17084abebf96ff6a8535e15c" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">1</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Land Development Activities [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_6f671d7b116d4306b51d6f5f6c912416" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">1</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Customer One [Member]-Revenue [Member]-Land Development Activities [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_734dee520e8049e48b01cd07f4d7b4ca" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.45</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Land Development Activities [Member]-Revenue [Member]-Customer Three [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_77cd6a9640d24460af20b3fcfddf83fa" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.14</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Accounts Receivable [Member]-Elbert & Highway 86 Commercial District [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_7868e3097eb94b24b923b49a7f35bb68" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.18</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Customer One [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_7a95ec2ccb024d398e463b9060aa53fa" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.93</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-One Other Customer [Member]-Accounts Receivable [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_7ab15d26ec344db78c5be5d96a8cd355" contextRef="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_OneOtherCustomerMember" unitRef="U008" decimals="INF">0.57</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Wholesale Water and Wastewater Services [Member]-Elbert & Highway 86 Commercial District [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_80a88736071247c981812332c088f458" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.04</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Sky Ranch Community Development [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_819d16e1f90a4afd995adb737c7254fd" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Customer One [Member]-Land Development Activities [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_84ec513399bf4ef496505c9fb13ea506" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.65</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Land Development Activities [Member]-Customer Two [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_962f648a428b455282f76768d615158b" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.33</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Sky Ranch Community Development [Member]-Wholesale Water and Wastewater Services [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_97bd2da6679743ea8705005c88d52c70" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.24</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Sales [Member]-Wholesale Water and Wastewater Services [Member]-Rangeview District [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_a003747335994e71891b2a54c95929d4" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.06</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Rangeview District [Member]-Wholesale Water and Wastewater Services [Member]-Sales [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_a1d596ffe698440cbb1a7dff2572d2f4" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.05</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Land Development Activities [Member]-Customer Two [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_a7dd01f2864d46a6b5f104e776ecbf7a" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.25</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Land Development Activities [Member]-Customer Two [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_a990743508c84a3589418edbd0d2a068" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.34</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Accounts Receivable [Member]-One Other Customer [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_aa205f0898b34fa0b5264a01bd5bc35b" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_OneOtherCustomerMember" unitRef="U008" decimals="INF">0.1</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Sales [Member]-Rangeview District [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_acf32d138b4449fc94c99cf74b472340" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.72</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Elbert & Highway 86 Commercial District [Member]-Wholesale Water and Wastewater Services [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_b03e9f189ade468b87d2e4392806bb8d" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_ElbertHighway86CommercialDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.1</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Ridgeview Youth Services Center [Member]-Revenue [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_b16e7aaca0cf4a68bbaf9e41de015194" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.27</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Land Development Activities [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_b36555bf06f74ba091ca9d4c6c15f5b5" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">1</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Sky Ranch Community Development [Member]-Revenue [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_be1b1507fb1442ef854eb43c3d6ff9a7" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.39</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Land Development Activities [Member]-Revenue [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_cdf00d27370046e698fd388f012bd693" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">1</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Wholesale Water and Wastewater Services [Member]-Rangeview District [Member]-Accounts Receivable [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_d685fd0ff9d649e794d748a575d022c5" contextRef="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.4</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Wholesale Water and Wastewater Services [Member]-Sky Ranch Community Development [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_df145aab46f047e2983618a6637c1ad8" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_SkyRanchCommunityDevelopmentMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Wholesale Water and Wastewater Services [Member]-Customer One [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_e2866276ed1a48bbb16705ff5c85fbe2" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.11</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Land Development Activities [Member]-Customer One [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_e59606914b2e4a199421585c949e629c" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.67</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Land Development Activities [Member]-Revenue [Member]-Customer Two [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_eba2ae4e8ccb44ec98e63283640c604c" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerTwoMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.25</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Land Development Activities [Member]-Customer Three [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_f4a08c80fc8c4f0881db6b59b4ddb66f" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerThreeMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.21</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Ridgeview Youth Services Center [Member]-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_f5c001efcc314042ae33846879107914" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RidgeviewYouthServicesCenterMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U008" decimals="INF">0.21</us-gaap:ConcentrationRiskPercentage1>
  <!--Concentration risk percentage-Revenue [Member]-Land Development Activities [Member]-Customer One [Member]-->
  <us-gaap:ConcentrationRiskPercentage1 id="Fact_fec1dbde4610494f9dd5f77559554c30" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_CustomerOneMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U008" decimals="INF">0.61</us-gaap:ConcentrationRiskPercentage1>
  <!--Contract with Customer, Asset, Reclassified to Receivable-->
  <us-gaap:ContractWithCustomerAssetReclassifiedToReceivable id="Fact_1aa7d6b7e52e4da8abb03d0592f21587" contextRef="c20180901to20190831" unitRef="U002" decimals="0">1020146</us-gaap:ContractWithCustomerAssetReclassifiedToReceivable>
  <!--Contract with Customer, Asset, Reclassified to Receivable-->
  <us-gaap:ContractWithCustomerAssetReclassifiedToReceivable id="Fact_8b10ab8321384e6b8b192c8e0f5981b5" contextRef="c20190901to20200531" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerAssetReclassifiedToReceivable>
  <!--Changes in Contract Asset and Deferred Revenue-->
  <us-gaap:ContractWithCustomerAssetAndLiabilityTableTextBlock id="Fact_8ea459ff14e742b38f5ccb8db9d31df2" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify;"&gt;The Company did not have a contract asset at May 31, 2020 and 2019 or August 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Changes in contract asset were as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, beginning of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Recognition of land development revenue contract asset&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,020,146&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Land development contract asset invoiced&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(1,020,146&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Deferred revenue by segment is as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,526,155&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;3,991,535&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Oil and gas leases and water sales payment&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;2,467,649&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;1,067,348&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,993,804&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The current portion of deferred revenue for oil and gas leases and water sales payment as of May 31, 2020 and August 31, 2019,&amp;#160; is $2,254,830 and $706,464, respectively. There were no water segment deferred revenues as of May 31, 2019 and August 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Changes in deferred revenue were as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, beginning of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;477,161&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Deferral of revenue&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;15,949,872&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;24,998,964&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Recognition of unearned revenue&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(16,014,951&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(20,417,242&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,993,804&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ContractWithCustomerAssetAndLiabilityTableTextBlock>
  <!--Contract with Customer, Liability-->
  <us-gaap:ContractWithCustomerLiability id="Fact_3a9c2936bd4b4fb2b27f2b6d53b63899" contextRef="c20180831" unitRef="U002" decimals="0">477161</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-->
  <us-gaap:ContractWithCustomerLiability id="Fact_62938bd427134e6b989fc20e8f07dacb" contextRef="c20190831" unitRef="U002" decimals="0">5058883</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Land Development Activities [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_4c4ded778cf641ddb9de4e8e7372d40a" contextRef="c20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">2526155</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Land Development Activities [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_8f1f49c423454c17a1c450b11d413127" contextRef="c20190831_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">3991535</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Oil and Gas Leases and Water Sales Payment [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_97ead9ecd5e044839dd480d54a4a2b1c" contextRef="c20190831_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember" unitRef="U002" decimals="0">1067348</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Oil and Gas Leases and Water Sales Payment [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_a187eed75cf14225aaddc88edb6c6ae5" contextRef="c20200531_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember" unitRef="U002" decimals="0">2467649</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-->
  <us-gaap:ContractWithCustomerLiability id="Fact_cb4907c0fe1d4fcdb00d8f8d764713d7" contextRef="c20200531" unitRef="U002" decimals="0">4993804</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_32f827b35ed349b5b8048f70cd0b48f5" contextRef="c20190831_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">60400</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-O and G Lease [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_3e2bc61413714614aac9c28e60c4a389" contextRef="c20200531_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U002" decimals="0">404400</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-O and G Lease [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_6a9750e64c10441f93a99f5f9fd799e4" contextRef="c20190831_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U002" decimals="0">547500</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_954380b393654c479d03c8a9c7fee338" contextRef="c20171031_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">167200</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_9a4aa0f287e34ccf953dd4518e50c2b6" contextRef="c20200531_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">18600</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Oil and Gas [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_a3e19ed50d6d40079e40d0032685559f" contextRef="c20200531_StatementBusinessSegmentsAxis_OilAndGasMember" unitRef="U002" decimals="-5">2000000</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Sky Ranch [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_af6076c867cd4b3ebda35475fcc93c21" contextRef="c20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U002" decimals="-5">2000000</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiability id="Fact_e473a26c8521498583b6d0e91140a9b8" contextRef="c20190731_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">573700</us-gaap:ContractWithCustomerLiability>
  <!--Contract with Customer, Liability, Current-->
  <us-gaap:ContractWithCustomerLiabilityCurrent id="Fact_b4904ca443b34825b3263602f902255e" contextRef="c20190831" unitRef="U002" decimals="0">3991535</us-gaap:ContractWithCustomerLiabilityCurrent>
  <!--Contract with Customer, Liability, Current-->
  <us-gaap:ContractWithCustomerLiabilityCurrent id="Fact_c4e47d744eb645398037a328abc0e32f" contextRef="c20200531" unitRef="U002" decimals="0">2526155</us-gaap:ContractWithCustomerLiabilityCurrent>
  <!--Contract with Customer, Liability, Current-Lot Sales Second Format [Member]-->
  <us-gaap:ContractWithCustomerLiabilityCurrent id="Fact_7a465d3b6e6c4859ad8192b93d129d87" contextRef="c20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U002" decimals="0">2526200</us-gaap:ContractWithCustomerLiabilityCurrent>
  <!--Contract with Customer, Asset, after Allowance for Credit Loss, Current-->
  <us-gaap:ContractWithCustomerAssetNetCurrent id="Fact_b5167849f32443f2961e6ce87467e91e" contextRef="c20180831" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerAssetNetCurrent>
  <!--Contract with Customer, Asset, after Allowance for Credit Loss, Current-->
  <us-gaap:ContractWithCustomerAssetNetCurrent id="Fact_d6a6fe968ac740c79e807c0d0189e5fc" contextRef="c20190831" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerAssetNetCurrent>
  <!--Contract with Customer, Asset, after Allowance for Credit Loss, Current-->
  <us-gaap:ContractWithCustomerAssetNetCurrent id="Fact_1f9f53396611473885f39b8c288aa83e" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerAssetNetCurrent>
  <!--Contract with Customer, Asset, after Allowance for Credit Loss, Current-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ContractWithCustomerAssetNetCurrent id="Fact_b3671641770f4945925ad795e01505a2" contextRef="c20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerAssetNetCurrent>
  <!--Contract with Customer, Asset, after Allowance for Credit Loss, Current-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:ContractWithCustomerAssetNetCurrent id="Fact_e61e1f4750aa4ae19b8a620b36ff9058" contextRef="c20190831_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerAssetNetCurrent>
  <!--Contract with Customer, Liability, Revenue Recognized-Lot Sales Second Format [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_d577b2aed67c4f0581c3791f7594eb72" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U002" decimals="-5">18600000</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_2c5426113fb1425da1f5b232763d3de1" contextRef="c20190901to20200531" unitRef="U002" decimals="0">16014951</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_7e040dbe2edb4903aebd558db5346d24" contextRef="c20180901to20190831" unitRef="U002" decimals="0">20417242</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Land Development Activities [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_7e315d5d2899452594dede0cff39f29e" contextRef="c20190301to20190831_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">11955989</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Land Development Activities [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_a8b603b5cac5487e9ba30a1f9b2726c2" contextRef="c20190901to20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">11503523</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Oil and Gas Leases and Water Sales Payment [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_aa53bbe2a2534b5fae4310205d482bd4" contextRef="c20190301to20190831_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember" unitRef="U002" decimals="0">8461253</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Oil and Gas Leases and Water Sales Payment [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_ce4833a683b04c3eb1712f5abac80467" contextRef="c20190901to20200531_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember" unitRef="U002" decimals="0">4511428</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-O and G Lease [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_0e305ba2d8de4c27ad14b79567d0f823" contextRef="c20180901to20190531_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_2e834b7e794f469588caf40ba12ca27d" contextRef="c20190901to20200531_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">41800</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-O and G Lease [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_349a09b917384e849931c7ef289c2bc9" contextRef="c20190301to20190531_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U002" decimals="0">0</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_391319e0d5aa4bb1a13a79385a3d0653" contextRef="c20200301to20200531_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">13900</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_6dde6241e26040de9ee9c079cd4b1c38" contextRef="c20180901to20190531_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">41800</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-Bison Oil and Gas LLP [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_7235635e5bcc4217a9add63a3f526bfd" contextRef="c20190301to20190531_CounterpartyNameAxis_BisonOilAndGasLlpMember" unitRef="U002" decimals="0">13900</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-O and G Lease [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_cddfdf414205482a995c5bfe21338408" contextRef="c20200301to20200531_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U002" decimals="0">47800</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Contract with Customer, Liability, Revenue Recognized-O and G Lease [Member]-->
  <us-gaap:ContractWithCustomerLiabilityRevenueRecognized id="Fact_f3b76470e7494b0fac682ca8b1528bc0" contextRef="c20190901to20200531_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U002" decimals="0">143400</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
  <!--Deferred oil and gas lease payment and water sales payment, less current portion-->
  <us-gaap:ContractWithCustomerLiabilityNoncurrent id="Fact_6e6e46c3039842c98c548721dff3e16d" contextRef="c20200531" unitRef="U002" decimals="0">212819</us-gaap:ContractWithCustomerLiabilityNoncurrent>
  <!--Deferred oil and gas lease payment and water sales payment, less current portion-->
  <us-gaap:ContractWithCustomerLiabilityNoncurrent id="Fact_a40b188910e24312b9e7b41d8089beaf" contextRef="c20190831" unitRef="U002" decimals="0">360884</us-gaap:ContractWithCustomerLiabilityNoncurrent>
  <!--Cost, Depreciation, Amortization and Depletion-->
  <us-gaap:CostDepreciationAmortizationAndDepletion id="Fact_5c427217bf96494a960566107ca1dece" contextRef="c20190901to20200531" unitRef="U002" decimals="0">987795</us-gaap:CostDepreciationAmortizationAndDepletion>
  <!--Cost, Depreciation, Amortization and Depletion-->
  <us-gaap:CostDepreciationAmortizationAndDepletion id="Fact_a648ea638f134abcba534c93457ef1ed" contextRef="c20180901to20190531" unitRef="U002" decimals="0">537709</us-gaap:CostDepreciationAmortizationAndDepletion>
  <!--Cost, Depreciation, Amortization and Depletion-->
  <us-gaap:CostDepreciationAmortizationAndDepletion id="Fact_c540a2ee222e44f4bb1869d15dcddadf" contextRef="c20200301to20200531" unitRef="U002" decimals="0">385788</us-gaap:CostDepreciationAmortizationAndDepletion>
  <!--Cost, Depreciation, Amortization and Depletion-->
  <us-gaap:CostDepreciationAmortizationAndDepletion id="Fact_ecc4da826f33434381a2bda866c1948e" contextRef="c20190301to20190531" unitRef="U002" decimals="0">225334</us-gaap:CostDepreciationAmortizationAndDepletion>
  <!--Cost of Revenue-->
  <us-gaap:CostOfRevenue id="Fact_02c0f5d2860747f3a49403e2bb569091" contextRef="c20200301to20200531" unitRef="U002" decimals="0">1106573</us-gaap:CostOfRevenue>
  <!--Cost of Revenue-->
  <us-gaap:CostOfRevenue id="Fact_123ab9c96f2841fbaee00becb6e46319" contextRef="c20180901to20190531" unitRef="U002" decimals="0">7345033</us-gaap:CostOfRevenue>
  <!--Cost of Revenue-->
  <us-gaap:CostOfRevenue id="Fact_1b52f26058bd4148bf67d8e11210cde5" contextRef="c20190901to20200531" unitRef="U002" decimals="0">12141064</us-gaap:CostOfRevenue>
  <!--Cost of Revenue-->
  <us-gaap:CostOfRevenue id="Fact_d5da1739ef5d4d0086ec593303150efd" contextRef="c20190301to20190531" unitRef="U002" decimals="0">3262302</us-gaap:CostOfRevenue>
  <!--Current income tax expense-->
  <us-gaap:CurrentIncomeTaxExpenseBenefit id="Fact_2fdc94cda5a24966a443f76d5d0453bf" contextRef="c20190901to20200531" unitRef="U002" decimals="0">1264800</us-gaap:CurrentIncomeTaxExpenseBenefit>
  <!--Current income tax expense-->
  <us-gaap:CurrentIncomeTaxExpenseBenefit id="Fact_8d20a086ed8c486ab9aa3ab10a96e382" contextRef="c20200301to20200531" unitRef="U002" decimals="0">20800</us-gaap:CurrentIncomeTaxExpenseBenefit>
  <!--Debt Securities-->
  <us-gaap:DebtSecurities id="Fact_2a4b3d79d8a842f382df9f9949e0f680" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:DebtSecurities>
  <!--Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax-U.S. Treasury Debt Securities [Member]-Recurring [Member]-->
  <us-gaap:DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax id="Fact_e835c80f39204710a262829b33ac82d4" contextRef="c20190831_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember_FinancialInstrumentAxis_USTreasurySecuritiesMember" unitRef="U002" decimals="0">3900</us-gaap:DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax>
  <!--Basis spread on variable rate-Prime Rate [Member]-Loans Receivable [Member]-Water and Wastewater Services [Member]-Rangeview District [Member]-->
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="Fact_6da47778c05f498f8a79fa27da3f8840" contextRef="c20190901to20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember_VariableRateAxis_PrimeRateMember" unitRef="U008" decimals="INF">0.02</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <!--Aggregate principal amount of bonds-Paycheck Protection Program Loan [Member]-->
  <us-gaap:DebtInstrumentFaceAmount id="Fact_4c80047d9aed4a9a81c58733aee07d0e" contextRef="c20200417_DebtInstrumentAxis_PaycheckProtectionProgramLoanMember" unitRef="U002" decimals="0">390000</us-gaap:DebtInstrumentFaceAmount>
  <!--Aggregate principal amount of bonds-Senior Bonds [Member]-->
  <us-gaap:DebtInstrumentFaceAmount id="Fact_5ce2201b268d4295b3efa720dcf229e2" contextRef="c20191119_LongtermDebtTypeAxis_SeniorNotesMember" unitRef="U002" decimals="0">11435000</us-gaap:DebtInstrumentFaceAmount>
  <!--Aggregate principal amount of bonds-Subordinate Bonds [Member]-->
  <us-gaap:DebtInstrumentFaceAmount id="Fact_7e08c8fbf7404cf28e288143e53d1a9b" contextRef="c20191119_LongtermDebtTypeAxis_SeniorSubordinatedNotesMember" unitRef="U002" decimals="0">1765000</us-gaap:DebtInstrumentFaceAmount>
  <!--Interest rate-Facilities Funding and Acquisition Agreement [Member]-->
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="Fact_fc9f09bebc834c7d80f7c98c59c9192a" contextRef="c20200531_RelatedPartyTransactionAxis_FacilitiesFundingAndAcquisitionAgreementMember" unitRef="U008" decimals="2">0.06</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <!--Interest rate-Water and Wastewater Services [Member]-Rangeview District [Member]-Notes Receivable [Member]-->
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="Fact_0ba3dce49ab043dd975e6ac944078a9d" contextRef="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_NotesReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U008" decimals="INF">0.08</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <!--Interest rate-Sky Ranch [Member]-Community Authority Board [Member]-->
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="Fact_1dee764add4f41a99975a0065e6f5a19" contextRef="c20200531_RelatedPartyTransactionAxis_CommunityAuthorityBoardMember_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U008" decimals="INF">0.06</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <!--Interest rate-Rangeview District [Member]-Water and Wastewater Services [Member]-Loans Receivable [Member]-->
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="Fact_34dae82a55b54502aef8bf01cafbc8a8" contextRef="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U008" decimals="INF">0.0525</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <!--Interest rate-Facilities Funding and Acquisition Agreement [Member]-->
  <!--Maturity date-Rangeview District [Member]-Water and Wastewater Services [Member]-Loans Receivable [Member]-->
  <us-gaap:DebtInstrumentMaturityDate id="Fact_216e055f71904ec1a4defdba1ea3d9c1" contextRef="c20190901to20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">2020-12-31</us-gaap:DebtInstrumentMaturityDate>
  <!--Deferred tax asset-->
  <us-gaap:DeferredIncomeTaxAssetsNet id="Fact_1577d5592ce74f3097ba8766d5d5336e" contextRef="c20190831" unitRef="U002" decimals="0">1283246</us-gaap:DeferredIncomeTaxAssetsNet>
  <!--Deferred tax asset-->
  <us-gaap:DeferredIncomeTaxAssetsNet id="Fact_d140e0e07924418c847811e7842d1bcc" contextRef="c20200531" unitRef="U002" decimals="0">573190</us-gaap:DeferredIncomeTaxAssetsNet>
  <!--Deferred income taxes-->
  <us-gaap:DeferredIncomeTaxExpenseBenefit id="Fact_8ddffcbd459d44389511274074d82fe9" contextRef="c20190901to20200531" unitRef="U002" decimals="0">710056</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <!--Deferred income taxes-->
  <us-gaap:DeferredIncomeTaxExpenseBenefit id="Fact_e33ea176aa7440cd8cefd96e1dfd4f9f" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <!--Deferred income taxes-->
  <us-gaap:DeferredIncomeTaxExpenseBenefit id="Fact_d264184d1e8f42c09fd88bc527f60520" contextRef="c20200301to20200531" unitRef="U002" decimals="0">-11900</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <!--Deferred oil and gas lease payment and water sales payment-->
  <us-gaap:DeferredRevenueLeasesCurrent id="Fact_21c66d695dff47c6b1b3e29c78d97380" contextRef="c20190831" unitRef="U002" decimals="0">706464</us-gaap:DeferredRevenueLeasesCurrent>
  <!--Deferred oil and gas lease payment and water sales payment-->
  <us-gaap:DeferredRevenueLeasesCurrent id="Fact_56138573fb9a4ce3bf42bd1fe868a218" contextRef="c20200531" unitRef="U002" decimals="0">2254830</us-gaap:DeferredRevenueLeasesCurrent>
  <!--Deferred oil and gas lease payment and water sales payment-Oil and Gas Leases and Water Sales Payment [Member]-->
  <us-gaap:DeferredRevenueLeasesCurrent id="Fact_5dcc5c147b3b434c9e736a345c2fd069" contextRef="c20200531_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember" unitRef="U002" decimals="0">2254830</us-gaap:DeferredRevenueLeasesCurrent>
  <!--Deferred oil and gas lease payment and water sales payment-Oil and Gas Leases and Water Sales Payment [Member]-->
  <us-gaap:DeferredRevenueLeasesCurrent id="Fact_cc5685c807bb48c3a3111b25aa36a3a0" contextRef="c20190831_StatementBusinessSegmentsAxis_OilAndGasLeasesAndWaterSalesPaymentMember" unitRef="U002" decimals="0">706464</us-gaap:DeferredRevenueLeasesCurrent>
  <!--Deferred Tax Assets, Net-->
  <us-gaap:DeferredTaxAssetsLiabilitiesNet id="Fact_2cd17e30980047308d53d03167274eb7" contextRef="c20200531" unitRef="U002" decimals="0">573190</us-gaap:DeferredTaxAssetsLiabilitiesNet>
  <!--Deferred Tax Assets, Net-->
  <us-gaap:DeferredTaxAssetsLiabilitiesNet id="Fact_bf2261c96eac446185b3786e0cf886c2" contextRef="c20190831" unitRef="U002" decimals="0">1283246</us-gaap:DeferredTaxAssetsLiabilitiesNet>
  <!--Deferred Tax Assets, Deferred Income-->
  <us-gaap:DeferredTaxAssetsDeferredIncome id="Fact_1cbb3f92bb0847b980405e08b1f51c0e" contextRef="c20190831" unitRef="U002" decimals="0">149895</us-gaap:DeferredTaxAssetsDeferredIncome>
  <!--Deferred Tax Assets, Deferred Income-->
  <us-gaap:DeferredTaxAssetsDeferredIncome id="Fact_7381afab75e642efb576212a97c8a1b1" contextRef="c20200531" unitRef="U002" decimals="0">104219</us-gaap:DeferredTaxAssetsDeferredIncome>
  <!--Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax-->
  <us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax id="Fact_35f1fbfb9028496f976713bbbeac3d26" contextRef="c20190831" unitRef="U002" decimals="0">282000</us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax>
  <!--Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax-->
  <us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax id="Fact_8da93bcb395e4bb3a5de3cd4972b8fa3" contextRef="c20200531" unitRef="U002" decimals="0">282000</us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax>
  <!--Deferred Tax Assets, Other-->
  <us-gaap:DeferredTaxAssetsOther id="Fact_07a803eea91048f6972d4c9eaf1ee71b" contextRef="c20200531" unitRef="U002" decimals="0">45452</us-gaap:DeferredTaxAssetsOther>
  <!--Deferred Tax Assets, Other-->
  <us-gaap:DeferredTaxAssetsOther id="Fact_cee452f6cf2d49fbb433c6801d31b61e" contextRef="c20190831" unitRef="U002" decimals="0">46128</us-gaap:DeferredTaxAssetsOther>
  <!--Net operating loss carryforwards-->
  <us-gaap:DeferredTaxAssetsOperatingLossCarryforwards id="Fact_09986f757ce94e1a9760a6d4035e8e06" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
  <!--Net operating loss carryforwards-->
  <us-gaap:DeferredTaxAssetsOperatingLossCarryforwards id="Fact_e9ebf8d4d7e142e297e3aacffc53ee80" contextRef="c20190831" unitRef="U002" decimals="0">609439</us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
  <!--Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities-->
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities id="Fact_045772e723e24e22bcf849a2b72e01d1" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities>
  <!--Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities-->
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities id="Fact_1b2b8416ebf04df38f3118061667445f" contextRef="c20190831" unitRef="U002" decimals="0">113559</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities>
  <!--Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost-->
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost id="Fact_1392bc4d46f049618d5d80973c51f276" contextRef="c20190831" unitRef="U002" decimals="0">410633</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost>
  <!--Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost-->
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost id="Fact_8d7ff46aa5e14d82a43ce5ab3adcb2ba" contextRef="c20200531" unitRef="U002" decimals="0">449639</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost>
  <!--Deferred Tax Liabilities, Property, Plant and Equipment-->
  <us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment id="Fact_528934d7c4964ed481d641c83fa84800" contextRef="c20200531" unitRef="U002" decimals="0">26120</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
  <!--Deferred Tax Liabilities, Property, Plant and Equipment-->
  <us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment id="Fact_abe65d6b5c914744a1572f68d8ce2b6e" contextRef="c20190831" unitRef="U002" decimals="0">46408</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
  <!--Depreciation and depletion-->
  <us-gaap:DepreciationDepletionAndAmortization id="Fact_3d19d27fd704400b84393cfb512ade5f" contextRef="c20180901to20190531" unitRef="U002" decimals="0">813960</us-gaap:DepreciationDepletionAndAmortization>
  <!--Depreciation and depletion-->
  <us-gaap:DepreciationDepletionAndAmortization id="Fact_9ff4896f8781420dac72eb59a3e2ca78" contextRef="c20190901to20200531" unitRef="U002" decimals="0">1253745</us-gaap:DepreciationDepletionAndAmortization>
  <!--Depreciation, Nonproduction-->
  <us-gaap:DepreciationNonproduction id="Fact_4ea40b7cc1d943d8a3ae1d240cda55d8" contextRef="c20190301to20190531" unitRef="U002" decimals="0">97846</us-gaap:DepreciationNonproduction>
  <!--Depreciation, Nonproduction-->
  <us-gaap:DepreciationNonproduction id="Fact_957ecd8bab5f414c9326efcc0541ca37" contextRef="c20190901to20200531" unitRef="U002" decimals="0">265950</us-gaap:DepreciationNonproduction>
  <!--Depreciation, Nonproduction-->
  <us-gaap:DepreciationNonproduction id="Fact_b4c657355ca64d6a877f18c1b68c2703" contextRef="c20200301to20200531" unitRef="U002" decimals="0">85596</us-gaap:DepreciationNonproduction>
  <!--Depreciation, Nonproduction-->
  <us-gaap:DepreciationNonproduction id="Fact_c8b0ce5cbe27405ba7d4b40b0c18bfe2" contextRef="c20180901to20190531" unitRef="U002" decimals="0">276251</us-gaap:DepreciationNonproduction>
  <!--Depreciation-->
  <us-gaap:Depreciation id="Fact_487da711a6454a0ab7b784c3b77150c4" contextRef="c20200301to20200531" unitRef="U002" decimals="0">471200</us-gaap:Depreciation>
  <!--Depreciation-->
  <us-gaap:Depreciation id="Fact_5cc5b149fa0142469d6bb60f57e50e24" contextRef="c20190901to20200531" unitRef="U002" decimals="0">1253200</us-gaap:Depreciation>
  <!--Depreciation-Other Equipment [Member]-->
  <us-gaap:Depreciation id="Fact_7165de79c77c425fbdd636c85637fcda" contextRef="c20190901to20200531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember" unitRef="U002" decimals="0">265900</us-gaap:Depreciation>
  <!--Depreciation-->
  <us-gaap:Depreciation id="Fact_89344652c918440da2d210d081ca0f98" contextRef="c20180901to20190531" unitRef="U002" decimals="0">812700</us-gaap:Depreciation>
  <!--Depreciation-->
  <us-gaap:Depreciation id="Fact_a48f4e1442a8497db6037e18e124d4ff" contextRef="c20190301to20190531" unitRef="U002" decimals="0">322700</us-gaap:Depreciation>
  <!--Depreciation-Other Equipment [Member]-->
  <us-gaap:Depreciation id="Fact_b5735210f46d44bca91217b6babd6585" contextRef="c20200301to20200531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember" unitRef="U002" decimals="0">85600</us-gaap:Depreciation>
  <!--Depreciation-Other Equipment [Member]-->
  <us-gaap:Depreciation id="Fact_e34d67eaea1643dcba95b0a101fb13b5" contextRef="c20180901to20190531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember" unitRef="U002" decimals="0">276200</us-gaap:Depreciation>
  <!--Depreciation-Other Equipment [Member]-->
  <us-gaap:Depreciation id="Fact_ff388809016c4403a6f741cd29a33453" contextRef="c20190301to20190531_PropertyPlantAndEquipmentByTypeAxis_OtherMachineryAndEquipmentMember" unitRef="U002" decimals="0">97800</us-gaap:Depreciation>
  <!--SHAREHOLDERS' EQUITY-->
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock id="Fact_7c7224ff3c0a46d6baeb4e4fa0c6723a" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 5 &amp;#8211; SHAREHOLDERS&amp;#8217; EQUITY&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company maintains the 2014 Equity Incentive Plan (the &amp;#8220;2014 Equity Plan&amp;#8221;), which was approved by shareholders in January 2014 and became effective on April 12, 2014. Executives, eligible employees, consultants and non-employee directors are eligible to receive options and stock grants pursuant to the 2014 Equity Plan. Pursuant to the 2014 Equity Plan, options to purchase shares of stock and stock awards can be granted with exercise prices, vesting conditions and other performance criteria determined by the Compensation Committee of the board of directors. The Company has reserved 1.6 million shares of common stock for issuance under the 2014 Equity Plan. The Company began awarding options and stock awards under the 2014 Equity Plan in January 2015. Prior to the effective date of the 2014 Equity Plan, the Company granted options and stock awards to eligible participants under its 2004 Incentive Plan (the &amp;#8220;2004 Incentive Plan&amp;#8221;), which expired on April 11, 2014. No additional awards may be granted pursuant to the 2004 Incentive Plan; however, awards outstanding as of April 11, 2014, will continue to vest and expire and may be exercised in accordance with the terms of the 2004 Incentive Plan.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2020:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Number&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;of Options&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Weighted Average&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Exercise Price&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Weighted Average&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Remaining&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Contractual Term&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Approximate&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Aggregate&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Intrinsic Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Outstanding at August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;555,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;6.33&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;6.27&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,527,590&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Granted&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;130,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;10.41&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Exercised&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(15,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2.67&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Forfeited or expired&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Outstanding at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;670,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;7.20&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;6.37&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;2,066,420&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Options exercisable at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;490,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;6.07&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;5.42&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;2,023,755&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;On September 25, 2019 and September 27, 2019 there were 80,000 and 50,000 stock options granted to employees and senior management, respectively. The weighted-average grant-date fair value of stock options granted were $4.21 and $4.16, respectively. These options vest evenly over three years from the date of the grant and expire no more than ten years from the date of the grant.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;On January 15, 2020, the six non-employee Board members were each granted 2,000 unrestricted stock grants. The fair market value of the unrestricted shares for share-based compensation expensing is equal to the closing price of the Company's common stock on the date of grant of $12.45. Stock-based compensation expense includes $149,400 of expense related to these unrestricted stock grants for the&amp;#160; nine months ended May 31, 2020. These stock grants were fully expensed at the date of the grant because no vesting requirements exist for unrestricted stock grants.&amp;#160; There was no stock-based compensation expense related to unrestricted stock grants for the three months ended May 31, 2020 and 2019 and nine months ended May 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as of and for the nine months ended May 31, 2020:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Number&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;of Options&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Weighted Average&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Grant Date&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Non-vested options outstanding at August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;152,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4.03&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Granted&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;130,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;4.19&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Vested&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(102,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;3.75&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Forfeited&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Non-vested options outstanding at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;180,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;4.31&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;All non-vested options are expected to vest.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Stock-based compensation expense was $81,900 and $96,100 for the three months ended May 31, 2020 and 2019, respectively. Stock-based compensation expense, including unrestricted stock grant expense, was $435,100 and $257,800 for the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;At May 31, 2020, the Company had unrecognized compensation expenses totaling $543,000 relating to non-vested options that are expected to vest. The weighted-average period over which these options are expected to vest is approximately two years.&lt;/div&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <!--Due to Related Parties, Current-->
  <us-gaap:DueToRelatedPartiesCurrent id="Fact_abf0eb6e942b4471842016a1203c2798" contextRef="c20200531" unitRef="U002" decimals="0">487500</us-gaap:DueToRelatedPartiesCurrent>
  <!--Due to Related Parties, Current-->
  <us-gaap:DueToRelatedPartiesCurrent id="Fact_bf871c0bc674412eb6dae23e0c4fc87e" contextRef="c20190831" unitRef="U002" decimals="0">1399600</us-gaap:DueToRelatedPartiesCurrent>
  <!--Earnings Per Share, Basic-->
  <us-gaap:EarningsPerShareBasic id="Fact_1669ecddc3694c73ad481d7af370818b" contextRef="c20200301to20200531" unitRef="U003" xsi:nil="true" />
  <!--Earnings Per Share, Basic-->
  <us-gaap:EarningsPerShareBasic id="Fact_2e0c9bbeb4b64e51907ed91a5cd0f7b6" contextRef="c20180901to20190531" unitRef="U003" decimals="2">0.08</us-gaap:EarningsPerShareBasic>
  <!--Earnings Per Share, Basic-->
  <us-gaap:EarningsPerShareBasic id="Fact_5209c5d56ac042c88b573252a9debd7b" contextRef="c20190301to20190531" unitRef="U003" decimals="2">0.05</us-gaap:EarningsPerShareBasic>
  <!--Earnings Per Share, Basic-->
  <us-gaap:EarningsPerShareBasic id="Fact_f814ce4d7cd648a78348ae4a9a25a794" contextRef="c20190901to20200531" unitRef="U003" decimals="2">0.25</us-gaap:EarningsPerShareBasic>
  <!--Earnings per Common Share-->
  <us-gaap:EarningsPerSharePolicyTextBlock id="Fact_312a3c577f1048078521d15a453afa25" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Earnings per Common Share&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Earnings per common share is computed by dividing net income by the weighted average number of shares outstanding during each period presented. For the three months ended May 31, 2020 and 2019, respectively, options to acquire common stock of 200,056 and 201,644 common share equivalents were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options of 229,142 and 206,934 common share equivalents as of the nine months ended May 31, 2020 and 2019, respectively, were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options aggregating 180,000 and 0 common share equivalents as of the three and nine months ended May 31, 2020, respectively, have been excluded from the calculation of income per common share as their effect is anti-dilutive. Common stock options aggregating 50,000 common share equivalents as of the three and nine months ended May 31, 2019, have been excluded from the calculation of income per common share as their effect is anti-dilutive.&lt;/div&gt;&lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <!--Earnings Per Share, Diluted-->
  <us-gaap:EarningsPerShareDiluted id="Fact_78d079298abe403abe7bab1e37982342" contextRef="c20180901to20190531" unitRef="U003" decimals="2">0.07</us-gaap:EarningsPerShareDiluted>
  <!--Earnings Per Share, Diluted-->
  <us-gaap:EarningsPerShareDiluted id="Fact_a80689f23cd24160aec23c6bcdd06fb1" contextRef="c20190301to20190531" unitRef="U003" decimals="2">0.05</us-gaap:EarningsPerShareDiluted>
  <!--Earnings Per Share, Diluted-->
  <us-gaap:EarningsPerShareDiluted id="Fact_c2babda8ad0a4ba094cbf33a4ca9cf76" contextRef="c20190901to20200531" unitRef="U003" decimals="2">0.25</us-gaap:EarningsPerShareDiluted>
  <!--Earnings Per Share, Diluted-->
  <us-gaap:EarningsPerShareDiluted id="Fact_e16a998751fa475dbccb1df3c0a493f3" contextRef="c20200301to20200531" unitRef="U003" xsi:nil="true" />
  <!--Effective tax rate-->
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance id="Fact_5f5df6b5b6344c37b1dfc1fa3364e33d" contextRef="c20190901to20200531" unitRef="U008" decimals="INF">0.246</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <!--Effective tax rate-->
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance id="Fact_7e939df0b06b40d4adce5fba0cf15489" contextRef="c20190301to20190531" unitRef="U008" decimals="INF">0</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <!--Effective tax rate-->
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance id="Fact_86f1e2ad0a72442ea32bbb545285a4e8" contextRef="c20200301to20200531" unitRef="U008" decimals="INF">0.248</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <!--Effective tax rate-->
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance id="Fact_bb4166c9500749049cae676be73b05cc" contextRef="c20180901to20190531" unitRef="U008" decimals="INF">0</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <!--Effective Income Tax Rate Reconciliation, Percent-->
  <us-gaap:EffectiveIncomeTaxRateContinuingOperations id="Fact_9a6f72cefed447299457716eca707d92" contextRef="c20190901to20200531" unitRef="U008" decimals="3">0.246</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
  <!--Effective Income Tax Rate Reconciliation, Percent-->
  <us-gaap:EffectiveIncomeTaxRateContinuingOperations id="Fact_af7653bbf3594d59b2fef5f40f5d5f0d" contextRef="c20200301to20200531" unitRef="U008" decimals="3">0.248</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
  <!--Unrecognized compensation expenses-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized id="Fact_6c53fff8720349f289fcb27f09940870" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">543000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <!--Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability-->
  <us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability id="Fact_ddf4b62aeb794e8ab455d7532bb903c7" contextRef="c19960410" unitRef="U002" decimals="0">20717100</us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability>
  <!--Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability-->
  <us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability id="Fact_0efae7c7354c446e9983ee9759d30b94" contextRef="c20190831" unitRef="U002" decimals="0">655400</us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability>
  <!--Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability-->
  <us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability id="Fact_f27d724f042f4bdb883c297eb7e13390" contextRef="c20200531" unitRef="U002" decimals="0">647600</us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability>
  <!--Fair Value Disclosures [Text Block]-->
  <us-gaap:FairValueDisclosuresTextBlock id="Fact_8cb1e645a0644ac0ab32dd52e5bee85d" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 2 &amp;#8211; FAIR VALUE MEASUREMENTS&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the measurement falls.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Level 1 &amp;#8212; Valuations for assets and liabilities traded in active exchange markets, such as the NASDAQ Stock Market. The Company had no Level 1 assets or liabilities as of May 31, 2020 or August 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Level 2 &amp;#8212; Valuations for assets and liabilities obtained from readily available pricing sources via independent providers for market transactions involving similar assets or liabilities. The Company had zero and one Level 2 assets as of May 31, 2020 and August 31, 2019, respectively, which consisted of a short-term certificate of deposit.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Level 3 &amp;#8212; Valuations for assets and liabilities that are derived from other valuation methodologies, including discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker-traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The Company had one Level 3 liability, the contingent portion of the CAA, as of May 31, 2020 and August 31, 2019. The Company has determined that the contingent portion of the CAA does not have a determinable fair value (see Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Long-Term Obligations and Operating Lease)&lt;/font&gt;.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company maintains policies and procedures to value instruments using what management believes to be the best and most relevant data available.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Level 2 Asset &amp;#8211; Investments. &lt;/font&gt;The Company&amp;#8217;s investment securities are the Company&amp;#8217;s only financial assets measured at fair value on a recurring basis. The fair value of investment securities is based on the values reported by the financial institutions where the funds are held. Investment securities include certificates of deposit and U.S. Treasury debt securities.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company&amp;#8217;s non-financial assets measured at fair value on a non-recurring basis when assessing recoverability consist entirely of its investments in water and water systems and other long-lived assets. See Note 3 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets &lt;/font&gt;below.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;There were no assets or liabilities measured at fair value on a recurring basis as of May 31, 2020.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table provides information on the assets and liabilities measured at fair value on a recurring basis as of August 31, 2019:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="11" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Fair Value Measurement Using:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;&lt;br /&gt;&lt;/div&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160; &lt;div style="text-align: center; font-weight: bold;"&gt;Cost /&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Other Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Quoted Prices in&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Active Markets&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;for Identical&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Assets&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Level 1)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Significant&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Other&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Observable Inputs&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Level 2)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160; &lt;div style="text-align: center; font-weight: bold;"&gt;Significant&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Unobservable&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Inputs&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Level 3)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160; &lt;div style="text-align: center; font-weight: bold;"&gt;Accumulated&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Unrealized&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Gains and&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Losses)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;U.S. Treasury debt securities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,992,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;3,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Total&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,992,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;3,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company also held a certificate of deposit that is not carried at fair value on the consolidated balance sheets and is classified as a held-to-maturity security. As of May 31, 2020, the carrying amount of held-to-maturity securities was $0. As of August 31, 2019, the carrying amount of held-to-maturity securities was $192,800 and is recorded as short-term investments in the accompanying consolidated financial statements.&lt;/div&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <!--Assets and Liabilities Measured at Fair Value on a Recurring Basis-->
  <us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock id="Fact_2dab1bd505e74f3badbdf3642009beae" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify;"&gt;The following table provides information on the assets and liabilities measured at fair value on a recurring basis as of August 31, 2019:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="11" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Fair Value Measurement Using:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;&lt;br /&gt;&lt;/div&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160; &lt;div style="text-align: center; font-weight: bold;"&gt;Cost /&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Other Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Quoted Prices in&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Active Markets&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;for Identical&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Assets&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Level 1)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Significant&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Other&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Observable Inputs&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Level 2)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160; &lt;div style="text-align: center; font-weight: bold;"&gt;Significant&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Unobservable&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Inputs&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Level 3)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160; &lt;div style="text-align: center; font-weight: bold;"&gt;Accumulated&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Unrealized&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Gains and&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;(Losses)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;U.S. Treasury debt securities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,992,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;3,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Total&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,992,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,996,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;3,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock>
  <!--General and Administrative Expense-->
  <us-gaap:GeneralAndAdministrativeExpense id="Fact_68a32c36a8ea4610a1418fd86989d0e5" contextRef="c20190301to20190531" unitRef="U002" decimals="0">665684</us-gaap:GeneralAndAdministrativeExpense>
  <!--General and Administrative Expense-->
  <us-gaap:GeneralAndAdministrativeExpense id="Fact_9e1c539b555f40a7beddae2a73ef321b" contextRef="c20180901to20190531" unitRef="U002" decimals="0">1864125</us-gaap:GeneralAndAdministrativeExpense>
  <!--General and Administrative Expense-->
  <us-gaap:GeneralAndAdministrativeExpense id="Fact_a372f3d8324743c5ad3fcb758abc0a84" contextRef="c20200301to20200531" unitRef="U002" decimals="0">800609</us-gaap:GeneralAndAdministrativeExpense>
  <!--General and Administrative Expense-->
  <us-gaap:GeneralAndAdministrativeExpense id="Fact_bebb873d0bb24ae883f014e776d37d0d" contextRef="c20190901to20200531" unitRef="U002" decimals="0">2638594</us-gaap:GeneralAndAdministrativeExpense>
  <!--Gross Profit-->
  <us-gaap:GrossProfit id="Fact_392e2309a2dc4ff7a39f0be658fb6bb0" contextRef="c20180901to20190531" unitRef="U002" decimals="0">3542598</us-gaap:GrossProfit>
  <!--Gross Profit-->
  <us-gaap:GrossProfit id="Fact_726581d08ff3403e99a94b6727ec3b1c" contextRef="c20190301to20190531" unitRef="U002" decimals="0">1922361</us-gaap:GrossProfit>
  <!--Gross Profit-->
  <us-gaap:GrossProfit id="Fact_804fb8db553349ecae0fb0b05c4dda75" contextRef="c20200301to20200531" unitRef="U002" decimals="0">743548</us-gaap:GrossProfit>
  <!--Gross Profit-->
  <us-gaap:GrossProfit id="Fact_85fa1f9d1fbe488e8154dd8c50c44d9c" contextRef="c20190901to20200531" unitRef="U002" decimals="0">3688666</us-gaap:GrossProfit>
  <!--Held-to-maturity securities-->
  <us-gaap:HeldToMaturitySecurities id="Fact_b8ac75e1eaf3487e9d4df3fa34c3a477" contextRef="c20190831" unitRef="U002" decimals="0">192800</us-gaap:HeldToMaturitySecurities>
  <!--Held-to-maturity securities-->
  <us-gaap:HeldToMaturitySecurities id="Fact_e7f9d575a590446e9743fac595ddf813" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:HeldToMaturitySecurities>
  <!--Long-Lived Assets-->
  <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock id="Fact_ecd90323dd824fcb86c8297aa203633e" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Long-Lived Assets&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the eventual use of the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.&lt;/div&gt;&lt;/div&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_4fc312b5d3e743a8b263b2aa072da5a5" contextRef="c20190901to20200531" unitRef="U002" decimals="0">8038618</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_713f9964f3124cb4ba7d362f67ca73b0" contextRef="c20180901to20190531" unitRef="U002" decimals="0">1799318</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_97900f031ef1431a94b6255e9f77555b" contextRef="c20200301to20200531" unitRef="U002" decimals="0">36275</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_f3dd8d55a395410dbb099e5fff3381a1" contextRef="c20190301to20190531" unitRef="U002" decimals="0">1261371</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Corporate, Non-Segment [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_0dc96b9dbaa046c882c14b457d87b106" contextRef="c20200301to20200531_ConsolidationItemsAxis_CorporateNonSegmentMember" unitRef="U002" decimals="0">-707273</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_118dfe89cca140a19e377080638e921d" contextRef="c20200301to20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">603158</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Corporate, Non-Segment [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_1d11648df18541f6849dfb65936411af" contextRef="c20180901to20190531_ConsolidationItemsAxis_CorporateNonSegmentMember" unitRef="U002" decimals="0">-1743280</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Land Development Activities [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_8395a7cd36d749c89e6b635ccff47d21" contextRef="c20190901to20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">7342810</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_9656d3cd2a57458b83d484b99d242de6" contextRef="c20180901to20190531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">3222922</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Land Development Activities [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_9996167ca8ef4605904e84476970f8a3" contextRef="c20200301to20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">140390</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Corporate, Non-Segment [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_bf3fdb7c445c40c6865c43652af42ce1" contextRef="c20190901to20200531_ConsolidationItemsAxis_CorporateNonSegmentMember" unitRef="U002" decimals="0">-1925548</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_c9314b1bfbe74bc9baebe864ef7f1a55" contextRef="c20190301to20190531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">1802340</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Land Development Activities [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_e4d73f7dcc0f459f8f3e67fb55306daa" contextRef="c20190301to20190531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">120021</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_e96337cc4f8b4e308c39570793478a2c" contextRef="c20190901to20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">2621356</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Corporate, Non-Segment [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_ee01878f69e848f3bc486cc0cbc28a95" contextRef="c20190301to20190531_ConsolidationItemsAxis_CorporateNonSegmentMember" unitRef="U002" decimals="0">-660990</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest-Land Development Activities [Member]-->
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments id="Fact_f7dedeea61d4442bbe95e6a931004a64" contextRef="c20180901to20190531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">319676</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Equity Method Investments-->
  <us-gaap:IncomeLossFromEquityMethodInvestments id="Fact_ee48fe8d6b6b4154948f6892a4c37d21" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-11730</us-gaap:IncomeLossFromEquityMethodInvestments>
  <!--Income (Loss) from Equity Method Investments-->
  <us-gaap:IncomeLossFromEquityMethodInvestments id="Fact_f48c75a774b14ad5b61b4956080359bf" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-7846</us-gaap:IncomeLossFromEquityMethodInvestments>
  <!--Income Tax Disclosure [Text Block]-->
  <us-gaap:IncomeTaxDisclosureTextBlock id="Fact_100d5555b4484284b06792509db3d5d0" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="font-weight: bold;"&gt;NOTE 11 &amp;#8211; INCOME TAXES&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;The Company recorded income tax expense of $8,900 and $0 for the three months ended May 31, 2020 and 2019, respectively, and $1,974,900 and $0 for the nine months ended May 31, 2020 and 2019, respectively. The net expense during the three months ended May 31, 2020 consisted of current income tax expense of $20,800 and deferred income tax benefit of ($11,900). The net expense during the nine months ended May 31, 2020 consisted of current income tax expense of $1,264,800 and deferred income tax expense of $710,100. The deferred tax expense consists of the usage of the Company's remaining $2.5 million net operating loss carryforwards and payment of deferred compensation in the period.&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items. At May 31, 2020 the Company is estimating an annual effective tax rate of approximately 25%. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to various factors.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The provision for income taxes is recorded at the end of each interim period based on the Company&amp;#8217;s best estimate of its effective income tax rate expected to be applicable for the full fiscal year. The Company&amp;#8217;s effective income tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020,&amp;#160; respectively. The Company did not record income tax expense for the three or nine months ended May 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company paid Federal and State tax installments of $212,300 and $22,000, respectively, during the three months ended May 31, 2020. The Company paid Federal and State tax installments of $1,089,700 and $215,500, respectively, during the nine months ended May 31, 2020. No taxes were paid during the three and nine months ended May 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Deferred income taxes reflect the tax effects of net operating loss carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company&amp;#8217;s deferred tax assets as of May 31, 2020 and August 31, 2019 are as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;For the Periods Ended:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Deferred tax assets (liabilities):&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Net operating loss carryforwards&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;609,439&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Accrued compensation&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;113,559&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Deferred revenues&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;104,219&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;149,895&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Depreciation and depletion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(26,120&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(46,408&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Non-qualified stock options&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;449,639&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;410,633&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Other&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;45,452&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;46,128&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Net deferred tax asset&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;573,190&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,283,246&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;The Company maintained a valuation allowance on the net deferred tax asset other than AMT credit carryforwards as of August 31, 2018. For the fiscal year ended August 31, 2019, the Company has determined it is more likely than not that the Company will realize its deferred tax assets, which consist primarily of net operating loss carryforwards. The Company assessed the realizability of its deferred tax assets using all available evidence; considering both historical results and projections of profitability for the reasonably foreseeable future periods. As a result of the Company&amp;#8217;s annual reassessment of its conclusions regarding the realization of its deferred tax assets at each financial reporting date, the Company concluded that its deferred tax assets are realizable, and therefore, the valuation allowance is no longer necessary.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;At August 31, 2019, the Company had $2.5 million of net operating loss carryforwards available for income tax purposes. The net operating loss carryforwards expire at various times beginning in 2036 and ending in 2038 for federal income tax purposes and expire at various times beginning in 2035 and ending in 2036 for state income tax purposes. As of November 30, 2019, the Company used the remaining balance of its net operating loss carryforwards.&lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <!--Income tax expense-->
  <us-gaap:IncomeTaxExpenseBenefit id="Fact_8e310e7602b84913aea7511e715b882b" contextRef="c20190901to20200531" unitRef="U002" decimals="0">1974898</us-gaap:IncomeTaxExpenseBenefit>
  <!--Income tax expense-->
  <us-gaap:IncomeTaxExpenseBenefit id="Fact_bbcd0a9f92e742d1bccafddb4475e4c4" contextRef="c20190301to20190531" unitRef="U002" decimals="0">0</us-gaap:IncomeTaxExpenseBenefit>
  <!--Income tax expense-->
  <us-gaap:IncomeTaxExpenseBenefit id="Fact_e7e0d187925b484cb90afdf62847bf69" contextRef="c20200301to20200531" unitRef="U002" decimals="0">8938</us-gaap:IncomeTaxExpenseBenefit>
  <!--Income tax expense-->
  <us-gaap:IncomeTaxExpenseBenefit id="Fact_fe00870d89e1485da36d6ca1a936380b" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</us-gaap:IncomeTaxExpenseBenefit>
  <!--Income Taxes-->
  <us-gaap:IncomeTaxPolicyTextBlock id="Fact_91baf1ac2760431587357a9a045d456d" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Income Taxes&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company uses a &amp;#8220;more-likely-than-not&amp;#8221; threshold for the recognition and de-recognition of tax positions, including any potential interest and penalties relating to tax positions taken by the Company. The Company did not have any significant unrecognized tax benefits as of May 31, 2020.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As a result of H.R.1, commonly known as the Tax Cuts and Jobs Act (the &amp;#8220;Tax Act&amp;#8221;), signed into law on December 22, 2017, the Company has a $282,000 alternative minimum tax (&amp;#8220;AMT&amp;#8221;) deferred tax asset for which it did not have a valuation allowance as of May 31, 2020 and August 31, 2019.&amp;#160; The Company expects to receive the AMT as a refund in future years.&amp;#160; Most, if not all, of this credit will be refundable with the filing of the 2018 (fiscal year ended 2019) through 2019 (fiscal year ending 2020) tax returns, subject to limitations of Internal Revenue Code Section 382 (arises with ownership changes) and the sequestration limitation of the Balanced Budget Act of 1997.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;The Company&amp;#8217;s effective tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020, respectively. The effective tax rate was 0% for the three and nine months ended May 31, 2019 due to the valuation allowance the Company maintained on its net deferred tax asset.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company records deferred tax assets and liabilities for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying consolidated balance sheets, as well as operating loss and tax credit carry-forwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;The Company maintained a valuation allowance on the net deferred tax asset other than AMT credits as of May 31, 2019, as the Company had determined it was more likely than not that the Company would not realize its deferred tax assets as of May 31, 2019. Such assets primarily consisted of operating loss carryforwards. The Company assessed the realizability of its deferred tax asset using all available evidence. In particular, the Company considered both historical results and projections of profitability for the reasonably foreseeable future periods. The Company is required to reassess its conclusions regarding the realization of its deferred tax assets at each financial reporting date. As a result of the evaluation, the Company concluded that all of the valuation allowance was no longer necessary as of August 31, 2019 and released the valuation allowance.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company files income tax returns with the Internal Revenue Service and the State of Colorado. The tax years that remain subject to examination are fiscal year 2015 through fiscal year 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company&amp;#8217;s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. At May 31, 2020, the Company did not have any accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense recognized during the nine months ended May 31, 2020 and 2019.&lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
  <!--Income taxes paid-->
  <us-gaap:IncomeTaxesPaidNet id="Fact_504c589cbd8d4045aeacbf580d3cc381" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</us-gaap:IncomeTaxesPaidNet>
  <!--Income taxes paid-->
  <us-gaap:IncomeTaxesPaidNet id="Fact_5c9e21cedbe346178c1e37f15a2dafd7" contextRef="c20190901to20200531" unitRef="U002" decimals="0">1305130</us-gaap:IncomeTaxesPaidNet>
  <!--Income taxes paid-Domestic Tax Authority [Member]-->
  <us-gaap:IncomeTaxesPaidNet id="Fact_5265e446488f4de380f8bc62975c9768" contextRef="c20200301to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember" unitRef="U002" decimals="0">212300</us-gaap:IncomeTaxesPaidNet>
  <!--Income taxes paid-Domestic Tax Authority [Member]-->
  <us-gaap:IncomeTaxesPaidNet id="Fact_6e608ad12ce3474b80d1f5dc9f456011" contextRef="c20190901to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember" unitRef="U002" decimals="0">1089700</us-gaap:IncomeTaxesPaidNet>
  <!--Income taxes paid-State and Local Jurisdiction [Member]-->
  <us-gaap:IncomeTaxesPaidNet id="Fact_905fe6eb7962496d8b3d441868d5d2da" contextRef="c20200301to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember" unitRef="U002" decimals="0">22000</us-gaap:IncomeTaxesPaidNet>
  <!--Income taxes paid-State and Local Jurisdiction [Member]-->
  <us-gaap:IncomeTaxesPaidNet id="Fact_c1dd74a7c7ac4ceebac6847880ce06cc" contextRef="c20190901to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember" unitRef="U002" decimals="0">215500</us-gaap:IncomeTaxesPaidNet>
  <!--Income taxes paid-->
  <us-gaap:IncomeTaxesPaidNet id="Fact_e149dd6b624e4e4bbb047e6276680034" contextRef="c20190301to20190531" unitRef="U002" decimals="0">0</us-gaap:IncomeTaxesPaidNet>
  <!--Income Taxes Receivable, Current-->
  <us-gaap:IncomeTaxesReceivable id="Fact_72e2d1b0ce2042188414c9084a628257" contextRef="c20200531" unitRef="U002" decimals="0">323108</us-gaap:IncomeTaxesReceivable>
  <!--Income Taxes Receivable, Current-->
  <us-gaap:IncomeTaxesReceivable id="Fact_f5f1f9fc9aec4e5aa2e048630cc10fe1" contextRef="c20190831" unitRef="U002" decimals="0">141410</us-gaap:IncomeTaxesReceivable>
  <!--Income Taxes Receivable, Noncurrent-->
  <us-gaap:IncomeTaxesReceivableNoncurrent id="Fact_157ff0cd82d647459a0fa1e248b06f6e" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:IncomeTaxesReceivableNoncurrent>
  <!--Income Taxes Receivable, Noncurrent-->
  <us-gaap:IncomeTaxesReceivableNoncurrent id="Fact_20f384cb9ecf499297bf4827b67b9cee" contextRef="c20190831" unitRef="U002" decimals="0">141410</us-gaap:IncomeTaxesReceivableNoncurrent>
  <!--Increase (Decrease) in Income Taxes-->
  <us-gaap:IncreaseDecreaseInIncomeTaxes id="Fact_3c480df4dcd44b77894f59770599652a" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-40288</us-gaap:IncreaseDecreaseInIncomeTaxes>
  <!--Increase (Decrease) in Income Taxes-->
  <us-gaap:IncreaseDecreaseInIncomeTaxes id="Fact_ab5716a2f3fa4de59bd83103e53ab14e" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</us-gaap:IncreaseDecreaseInIncomeTaxes>
  <!--Increase (Decrease) in Contract with Customer, Liability-->
  <us-gaap:IncreaseDecreaseInContractWithCustomerLiability id="Fact_5f57213a366c4f6596217adda3ef5514" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-1461479</us-gaap:IncreaseDecreaseInContractWithCustomerLiability>
  <!--Increase (Decrease) in Contract with Customer, Liability-->
  <us-gaap:IncreaseDecreaseInContractWithCustomerLiability id="Fact_a869a3c9dbe34cd7ae20cdf1ab51ec81" contextRef="c20180901to20190531" unitRef="U002" decimals="0">1270747</us-gaap:IncreaseDecreaseInContractWithCustomerLiability>
  <!--Accounts payable and accrued liabilities-->
  <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities id="Fact_2f2778df7e5349bbafb91e8ee5b9d7ff" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-382800</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
  <!--Accounts payable and accrued liabilities-->
  <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities id="Fact_4068b7e7e84948769f667b360aad955b" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-739878</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
  <!--Increase (Decrease) in Accounts Receivable-->
  <us-gaap:IncreaseDecreaseInAccountsReceivable id="Fact_cfb895d2e5464df1a0aaa845a38023cd" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-504252</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <!--Increase (Decrease) in Accounts Receivable-->
  <us-gaap:IncreaseDecreaseInAccountsReceivable id="Fact_e03c4b6c759049e6a00e5c89b2e0c9ef" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-454501</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <!--Increase (Decrease) in Other Operating Assets-->
  <us-gaap:IncreaseDecreaseInOtherOperatingAssets id="Fact_3a26e838b4514e4e85805389a48c4f30" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-75063</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
  <!--Increase (Decrease) in Other Operating Assets-->
  <us-gaap:IncreaseDecreaseInOtherOperatingAssets id="Fact_86af8d10ff284b65b6a06d9a73a8a6ce" contextRef="c20180901to20190531" unitRef="U002" decimals="0">90097</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
  <!--Increase (Decrease) in Notes Receivable, Related Parties-->
  <us-gaap:IncreaseDecreaseInNotesReceivableRelatedParties id="Fact_1eee0daee5e2418297f632ffbac684e1" contextRef="c20190901to20200531" unitRef="U002" decimals="0">37499</us-gaap:IncreaseDecreaseInNotesReceivableRelatedParties>
  <!--Increase (Decrease) in Notes Receivable, Related Parties-->
  <us-gaap:IncreaseDecreaseInNotesReceivableRelatedParties id="Fact_2c197ff120cf41a3bbb706a07ac83c0e" contextRef="c20180901to20190531" unitRef="U002" decimals="0">34223</us-gaap:IncreaseDecreaseInNotesReceivableRelatedParties>
  <!--Increase (Decrease) in Prepaid Expense-->
  <us-gaap:IncreaseDecreaseInPrepaidExpense id="Fact_20410560c2fc47c28431e0f084471a7d" contextRef="c20180901to20190531" unitRef="U002" decimals="0">1261278</us-gaap:IncreaseDecreaseInPrepaidExpense>
  <!--Increase (Decrease) in Prepaid Expense-->
  <us-gaap:IncreaseDecreaseInPrepaidExpense id="Fact_2d2e51e0c44844dab6557c89b03e2ce9" contextRef="c20190901to20200531" unitRef="U002" decimals="0">47027</us-gaap:IncreaseDecreaseInPrepaidExpense>
  <!--Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)-->
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Fact_2abcf3d5c44a45b9b68b455d0ca2aa76" contextRef="c20180901to20190531" unitRef="U001" decimals="INF">206934</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <!--Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)-->
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Fact_39dbcdea6bfc4baab02239737afbc7f4" contextRef="c20200301to20200531" unitRef="U001" decimals="INF">200056</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <!--Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)-->
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Fact_7201b4fe6e1e4f789cae9eb7c02cc994" contextRef="c20190301to20190531" unitRef="U001" decimals="INF">201644</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <!--Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)-->
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Fact_7602eb1443594d25bdbc485aa6144d7d" contextRef="c20190901to20200531" unitRef="U001" decimals="INF">229142</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <!--Interest Income, Related Party-->
  <us-gaap:InterestIncomeRelatedParty id="Fact_48e13628f0a547cb9606499ee252d5ae" contextRef="c20190901to20200531" unitRef="U002" decimals="0">33844</us-gaap:InterestIncomeRelatedParty>
  <!--Interest Income, Related Party-->
  <us-gaap:InterestIncomeRelatedParty id="Fact_902f53557d14403cb6a2078ccba8e3e4" contextRef="c20180901to20190531" unitRef="U002" decimals="0">30753</us-gaap:InterestIncomeRelatedParty>
  <!--Land development inventories-->
  <us-gaap:InventoryLandHeldForDevelopmentAndSale id="Fact_254ccf614626491b9049bf6bd64f7df1" contextRef="c20200531" unitRef="U002" decimals="0">3895759</us-gaap:InventoryLandHeldForDevelopmentAndSale>
  <!--Land development inventories-->
  <us-gaap:InventoryLandHeldForDevelopmentAndSale id="Fact_77586562a73740aa9f3a3b1e87425258" contextRef="c20190831" unitRef="U002" decimals="0">11613112</us-gaap:InventoryLandHeldForDevelopmentAndSale>
  <!--Inventory, Policy [Policy Text Block]-->
  <us-gaap:InventoryPolicyTextBlock id="Fact_25b83ea1074f4568869835396d739df1" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Land Development Inventories&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Land development inventories primarily include real estate held for development and sale, which the Company has begun developing and are stated at cost. Capitalized lot development costs at Sky Ranch are costs incurred to construct required infrastructure to produce finished lots at Sky Ranch that meet the Company&amp;#8217;s capitalization criteria for lot improvements and are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company uses the specific identification method for purposes of accumulating land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales when a lot is completed and sold on a lot-by-lot basis. Costs included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; include common area costs that the Company funded through the CAB. The Company expects that such costs will be reimbursable by the CAB. The Company records future reimbursements as a reduction of reimbursable capitalized costs remaining in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; once the CAB has the ability to reimburse the costs (i.e., once the Sky Ranch Districts and/or the CAB has issued bonds).&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company measures land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent comparable sales prices. If recent sales prices are not available, the Company will consider several factors, including, but not limited to, current market conditions, nearby recent sales transactions and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its net realizable value.&lt;/div&gt;&lt;/div&gt;</us-gaap:InventoryPolicyTextBlock>
  <!--Investment Income, Interest-->
  <us-gaap:InvestmentIncomeInterest id="Fact_005cc002beb945b5872f6d07cbb8f0c3" contextRef="c20190901to20200531" unitRef="U002" decimals="0">162431</us-gaap:InvestmentIncomeInterest>
  <!--Investment Income, Interest-->
  <us-gaap:InvestmentIncomeInterest id="Fact_38141eaa4bfd4f7c96fd639bb94d02d9" contextRef="c20180901to20190531" unitRef="U002" decimals="0">246809</us-gaap:InvestmentIncomeInterest>
  <!--Investment Income, Interest-->
  <us-gaap:InvestmentIncomeInterest id="Fact_85a8740f11844a80a37f133f66e80d9f" contextRef="c20190301to20190531" unitRef="U002" decimals="0">53986</us-gaap:InvestmentIncomeInterest>
  <!--Investment Income, Interest-->
  <us-gaap:InvestmentIncomeInterest id="Fact_976aeee78f4d4d52866ec5aa041d16bc" contextRef="c20200301to20200531" unitRef="U002" decimals="0">24462</us-gaap:InvestmentIncomeInterest>
  <!--Investments-->
  <us-gaap:InvestmentPolicyTextBlock id="Fact_d7bb7b704e284944a73f9d005aec5ed2" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Investments&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determinations each reporting period.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Securities that the Company does not have the positive intent or ability to hold to maturity, including certificate of deposits and U.S. Treasury debt securities, are reported at their fair value. Changes in value of such securities are recorded as a component of &lt;font style="font-style: italic;"&gt;Accumulated other comprehensive income (loss).&lt;/font&gt; The cost of securities sold is based on the specific identification method. As of May 31, 2020, the Company held no securities.&lt;/div&gt;&lt;/div&gt;</us-gaap:InvestmentPolicyTextBlock>
  <!--Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures-Rangeview District [Member]-WISE Partnership [Member]-->
  <us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures id="Fact_d8047573020344eaa0b7b5ce78602d26" contextRef="c20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="-5">6100000</us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures>
  <!--Lessee, Operating Lease, Term of Contract-->
  <us-gaap:LesseeOperatingLeaseTermOfContract id="Fact_379e75b871ba42cd9b28d1abd30a348a" contextRef="c20200531">P3Y</us-gaap:LesseeOperatingLeaseTermOfContract>
  <!--Operating lease extension term-->
  <us-gaap:LesseeOperatingLeaseRenewalTerm id="Fact_818f2e4957d04ef2a39e4a8d6fc95129" contextRef="c20200531">P2Y</us-gaap:LesseeOperatingLeaseRenewalTerm>
  <!--Lessee, Leases [Policy Text Block]-->
  <us-gaap:LesseeLeasesPolicyTextBlock id="Fact_82fef32555764dd19c36e4b090303a2a" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Oil and Gas Lease Payments&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As described in Note 2 &amp;#8211; &lt;font style="font-style: italic;"&gt;Summary of Significant Accounting Policies&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report, the Company entered into a Paid-Up Oil and Gas Lease (the &amp;#8220;Sky Ranch O&amp;amp;G Lease&amp;#8221;) and a Surface Use and Damage Agreement that were subsequently purchased by a wholly owned subsidiary of ConocoPhillips Company and recently acquired by Crestone Peak Resources. Six wells have been drilled within the Company&amp;#8217;s mineral interest and placed into service (four new wells beginning in fiscal 2020) and are producing oil and gas and accruing royalties to the Company. During the three months ended May 31, 2020 and 2019, the Company received $74,100 and $37,300 net of taxes, respectively, in royalties attributable to these wells. During the nine months ended May 31, 2020 and 2019, the Company received $612,700 and $113,100 net of taxes, respectively, in royalties attributable to these wells. The Company classifies income from oil and gas lease and royalty payments as &lt;font style="font-style: italic;"&gt;Other income&lt;/font&gt; in the statement of operations and comprehensive income as the Company does not consider these arrangements to be a primary operating business activity.&lt;/div&gt;&lt;/div&gt;</us-gaap:LesseeLeasesPolicyTextBlock>
  <!--Liabilities and Equity-->
  <us-gaap:LiabilitiesAndStockholdersEquity id="Fact_d45c6eb1e8fa4f84af76db1750e3a5d6" contextRef="c20200531" unitRef="U002" decimals="0">88209073</us-gaap:LiabilitiesAndStockholdersEquity>
  <!--Liabilities and Equity-->
  <us-gaap:LiabilitiesAndStockholdersEquity id="Fact_e594661b93d1453589132392cd7dbd25" contextRef="c20190831" unitRef="U002" decimals="0">83721404</us-gaap:LiabilitiesAndStockholdersEquity>
  <!--Liabilities measured at fair value-Recurring [Member]-->
  <us-gaap:LiabilitiesFairValueDisclosure id="Fact_c5f145a4c8834f0c89ecd709601afb78" contextRef="c20200531_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsRecurringMember" unitRef="U002" decimals="0">0</us-gaap:LiabilitiesFairValueDisclosure>
  <!--Liabilities-->
  <us-gaap:Liabilities id="Fact_b2ed4b8568c247dda921576f4862ddce" contextRef="c20200531" unitRef="U002" decimals="0">6942969</us-gaap:Liabilities>
  <!--Liabilities-->
  <us-gaap:Liabilities id="Fact_d8ff190d82844f8c804f3d512fe57905" contextRef="c20190831" unitRef="U002" decimals="0">8990263</us-gaap:Liabilities>
  <!--Liabilities, Current-->
  <us-gaap:LiabilitiesCurrent id="Fact_84a90500e40d4266a806edb43e776294" contextRef="c20190831" unitRef="U002" decimals="0">8297239</us-gaap:LiabilitiesCurrent>
  <!--Liabilities, Current-->
  <us-gaap:LiabilitiesCurrent id="Fact_ca38c026b11f4460bed7657c773f3475" contextRef="c20200531" unitRef="U002" decimals="0">6261890</us-gaap:LiabilitiesCurrent>
  <!--Net Cash Provided by (Used in) Operating Activities-->
  <us-gaap:NetCashProvidedByUsedInOperatingActivities id="Fact_496cc37848bf4b7b961d33b4fd884c44" contextRef="c20190901to20200531" unitRef="U002" decimals="0">15203612</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <!--Net Cash Provided by (Used in) Operating Activities-->
  <us-gaap:NetCashProvidedByUsedInOperatingActivities id="Fact_8335207c3fbc4866b701d523a416a2c4" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-2741999</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <!--Net income-->
  <us-gaap:NetIncomeLoss id="Fact_12ca2b4880914d04b75cac9b63447ef8" contextRef="c20190301to20190531" unitRef="U002" decimals="0">1261371</us-gaap:NetIncomeLoss>
  <!--Net income-->
  <us-gaap:NetIncomeLoss id="Fact_3dd1f2493de24b7aba0144d222624f14" contextRef="c20190901to20200531" unitRef="U002" decimals="0">6063720</us-gaap:NetIncomeLoss>
  <!--Net income-->
  <us-gaap:NetIncomeLoss id="Fact_8ddc65b256924f4da8be1dc6b9f1557d" contextRef="c20200301to20200531" unitRef="U002" decimals="0">27337</us-gaap:NetIncomeLoss>
  <!--Net income-->
  <us-gaap:NetIncomeLoss id="Fact_a070c414b9cd40839d0788b106e43ad8" contextRef="c20180901to20190531" unitRef="U002" decimals="0">1799318</us-gaap:NetIncomeLoss>
  <!--Net income-Retained Earnings [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_0778ee6175444e8da707d0b801b35545" contextRef="c20200301to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">27337</us-gaap:NetIncomeLoss>
  <!--Net income-AOCI Attributable to Parent [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_084a786b21dd421c80feb8303b46989a" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Preferred Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_08e8a63c64e449e19747b60a6db0c752" contextRef="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Retained Earnings [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_180f1aa75c444dbe8eff3202ccf8ce58" contextRef="c20180901to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">1799318</us-gaap:NetIncomeLoss>
  <!--Net income-Additional Paid-in Capital [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_2753edb6fda04d39ade39d4483eb4ff2" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Retained Earnings [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_2a41328db64941c294c98ac6d88dd5a9" contextRef="c20190301to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">1261371</us-gaap:NetIncomeLoss>
  <!--Net income-AOCI Attributable to Parent [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_3207c8bcaa9f4c64a0434329564b3a34" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Common Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_32b4abf94cd1422fbc6eeeec6623e815" contextRef="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Preferred Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_3c65f499a16e4f5098a9900f17759cd8" contextRef="c20180901to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-AOCI Attributable to Parent [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_3dcec7c7b60540c597e369531473f060" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Common Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_4cee67ba58e94316925c5fc1cf04aeab" contextRef="c20190301to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Additional Paid-in Capital [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_56539fa996f84b8a8e179fe34a88f926" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Common Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_6006fa255cca47b8837d723b337f750f" contextRef="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Preferred Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_839339f551724de6988cc7ec9c713d81" contextRef="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-AOCI Attributable to Parent [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_89948f17c75f4e7da1848695a8e648a8" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Common Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_9543e00fdb3e4e86a4d68e82eedf03e4" contextRef="c20180901to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Additional Paid-in Capital [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_9dfb488995404119a2b7a683f3ebb5f0" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Retained Earnings [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_b992c1929cb24f159f47d107b584b0b7" contextRef="c20190901to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">6063720</us-gaap:NetIncomeLoss>
  <!--Net income-Preferred Stock [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_dc26e2fe825c42ef9fe81145b9493aaf" contextRef="c20190301to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net income-Additional Paid-in Capital [Member]-->
  <us-gaap:NetIncomeLoss id="Fact_df6b5e10046e448b8bc8ec4434e7ff5c" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:NetIncomeLoss>
  <!--Net Cash Provided by (Used in) Investing Activities-->
  <us-gaap:NetCashProvidedByUsedInInvestingActivities id="Fact_4e265962ed6b41ba9c6fd4e7c7f283c0" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-5350577</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <!--Net Cash Provided by (Used in) Investing Activities-->
  <us-gaap:NetCashProvidedByUsedInInvestingActivities id="Fact_fa11b178bcd34ee0b339806edcbfd894" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-2642698</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <!--Net Cash Provided by (Used in) Financing Activities-->
  <us-gaap:NetCashProvidedByUsedInFinancingActivities id="Fact_01b0e825e1794b00a61682408a5c8a2f" contextRef="c20180901to20190531" unitRef="U002" decimals="0">108848</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <!--Net Cash Provided by (Used in) Financing Activities-->
  <us-gaap:NetCashProvidedByUsedInFinancingActivities id="Fact_bdfa8394ca3f4ca182c02896201262b4" contextRef="c20190901to20200531" unitRef="U002" decimals="0">35827</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <!--Recently Issued Accounting Pronouncements-->
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock id="Fact_b2d8c96bce3c41a79a33830f107ef504" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Recently Issued Accounting Pronouncements&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company continually assesses new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company&amp;#8217;s financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and to ensure that there are proper controls in place to ascertain that the Company&amp;#8217;s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In February 2016, the Financial Accounting Standards Board (the &amp;#8220;FASB&amp;#8221;) issued Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) No. 2016-02, &lt;font style="font-style: italic;"&gt;Leases (Topic 842). &lt;/font&gt;ASU 2016-02&lt;font style="font-style: italic;"&gt;&amp;#160;&lt;/font&gt;provides guidance on the recognition, measurement, presentation and disclosure of leases. The new standard supersedes the present GAAP standard on leases and requires substantially all leases to be reported on the balance sheet as right-of-use assets and lease obligations. This standard is effective for fiscal years beginning after December 15, 2018. The Company adopted the standard effective September 1, 2019, and recorded a right-of-use asset of approximately $258,900 and a lease obligation liability of approximately $252,300.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In June 2016, the FASB issued ASU No. 2016-13, &lt;font style="font-style: italic;"&gt;Financial Instruments &amp;#8211; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments &lt;/font&gt; (&amp;#8220;ASU 2016-13&amp;#8221;). Among other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 was set to be effective for public companies on January 1, 2020; however, the FASB delayed the effective date to January 1, 2023 for smaller reporting companies. The Company &lt;font style="color: #212529;"&gt;continues to monitor economic implications of the COVID-19 pandemic; however, based on current market conditions, we do not expect the impact of ASU 2016-13 to be material upon adoption.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <!--Notes receivable-->
  <us-gaap:NotesReceivableRelatedParties id="Fact_a9b71e46ac9b405fb7bdbd06ce763b61" contextRef="c20200531" unitRef="U002" decimals="0">28200</us-gaap:NotesReceivableRelatedParties>
  <!--Notes receivable-Water and Wastewater Services [Member]-Rangeview District [Member]-Notes Receivable [Member]-->
  <us-gaap:NotesReceivableRelatedParties id="Fact_c817d315a8ec429182e56b0cb508bb1e" contextRef="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_NotesReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">1031500</us-gaap:NotesReceivableRelatedParties>
  <!--Notes receivable - related parties, including accrued interest-->
  <us-gaap:NotesReceivableRelatedPartiesNoncurrent id="Fact_03fe9926b9f84a2a848170bd5ff326a0" contextRef="c20190831" unitRef="U002" decimals="0">988381</us-gaap:NotesReceivableRelatedPartiesNoncurrent>
  <!--Notes receivable - related parties, including accrued interest-->
  <us-gaap:NotesReceivableRelatedPartiesNoncurrent id="Fact_63949cc06b1347f4b9b6e02625f9b2d6" contextRef="c20200531" unitRef="U002" decimals="0">1059724</us-gaap:NotesReceivableRelatedPartiesNoncurrent>
  <!--Number of Operating Segments-->
  <us-gaap:NumberOfOperatingSegments id="Fact_a2795a691ccd45529a6bf3b0d0fbff1b" contextRef="c20190901to20200531" unitRef="U021" decimals="INF">2</us-gaap:NumberOfOperatingSegments>
  <!--Number of Real Estate Properties-Public Improvements [Member]-Forecast [Member]-->
  <us-gaap:NumberOfRealEstateProperties id="Fact_14c74d9ca4124ca094192da1084f7851" contextRef="c20200831_ProductOrServiceAxis_PublicImprovementsMember_StatementScenarioAxis_ScenarioForecastMember" unitRef="U010" decimals="INF">506</us-gaap:NumberOfRealEstateProperties>
  <!--Number of Real Estate Properties-Sky Ranch [Member]-->
  <us-gaap:NumberOfRealEstateProperties id="Fact_856e5f3aa00c486f854b40db46ea00d9" contextRef="c20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U010" decimals="INF">506</us-gaap:NumberOfRealEstateProperties>
  <!--Operating Lease, Payments-->
  <us-gaap:OperatingLeasePayments id="Fact_37e2bd0a5d1148a89265e3893f1b997b" contextRef="c20200301to20200531" unitRef="U002" decimals="0">19800</us-gaap:OperatingLeasePayments>
  <!--Operating Lease, Payments-->
  <us-gaap:OperatingLeasePayments id="Fact_65c31d0484d246569fb4bfeba0239013" contextRef="c20190901to20200531" unitRef="U002" decimals="0">59500</us-gaap:OperatingLeasePayments>
  <!--Operating Lease, Weighted Average Discount Rate, Percent-->
  <us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent id="Fact_5c8fb854150049f48d6765e3d01e6992" contextRef="c20200531" unitRef="U008" decimals="3">0.060</us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent>
  <!--Lease liability-ASU 2016-02 [Member]-->
  <us-gaap:OperatingLeaseLiability id="Fact_06f270fa0c344057a72fbcf6a7bbf8ed" contextRef="c20190831_AdjustmentsForNewAccountingPronouncementsAxis_AccountingStandardsUpdate201602Member" unitRef="U002" decimals="0">252300</us-gaap:OperatingLeaseLiability>
  <!--Lease liability-->
  <us-gaap:OperatingLeaseLiability id="Fact_0381b9ce1b104aa69eb77b42b29e1373" contextRef="c20200531" unitRef="U002" decimals="0">210509</us-gaap:OperatingLeaseLiability>
  <!--Lease obligations - operating leases, less current portion-->
  <us-gaap:OperatingLeaseLiabilityNoncurrent id="Fact_4533f45046e5455b8a4e25e906d27768" contextRef="c20190831" unitRef="U002" decimals="0">0</us-gaap:OperatingLeaseLiabilityNoncurrent>
  <!--Lease obligations - operating leases, less current portion-->
  <us-gaap:OperatingLeaseLiabilityNoncurrent id="Fact_8589b190de4e4beea2c04f7922ad16ca" contextRef="c20200531" unitRef="U002" decimals="0">140318</us-gaap:OperatingLeaseLiabilityNoncurrent>
  <!--Current operating lease obligations-->
  <us-gaap:OperatingLeaseLiabilityCurrent id="Fact_af5171367409473e918a5c428f34db77" contextRef="c20200531" unitRef="U002" decimals="0">70191</us-gaap:OperatingLeaseLiabilityCurrent>
  <!--Operating Lease, Expense-->
  <us-gaap:OperatingLeaseExpense id="Fact_05d1f6721b4941aaab94c158ef472599" contextRef="c20190901to20200531" unitRef="U002" decimals="0">63900</us-gaap:OperatingLeaseExpense>
  <!--Operating Lease, Expense-->
  <us-gaap:OperatingLeaseExpense id="Fact_4dd2b43474d14201871c5b7cadc9386d" contextRef="c20200301to20200531" unitRef="U002" decimals="0">21300</us-gaap:OperatingLeaseExpense>
  <!--Operating leases - right of use assets-->
  <us-gaap:OperatingLeaseRightOfUseAsset id="Fact_3f8b90655f0b481888ee7619b7554ca9" contextRef="c20190831" unitRef="U002" decimals="0">0</us-gaap:OperatingLeaseRightOfUseAsset>
  <!--Operating leases - right of use assets-->
  <us-gaap:OperatingLeaseRightOfUseAsset id="Fact_90013f81b3764e3eb5694fe3b44b5a54" contextRef="c20200531" unitRef="U002" decimals="0">213252</us-gaap:OperatingLeaseRightOfUseAsset>
  <!--Operating leases - right of use assets-ASU 2016-02 [Member]-->
  <us-gaap:OperatingLeaseRightOfUseAsset id="Fact_3c54eddc1d564e948e250ac4bbe2ff96" contextRef="c20190831_AdjustmentsForNewAccountingPronouncementsAxis_AccountingStandardsUpdate201602Member" unitRef="U002" decimals="0">258900</us-gaap:OperatingLeaseRightOfUseAsset>
  <!--Net operating loss carryforwards, expiration date-Minimum [Member]-Domestic Tax Authority [Member]-->
  <us-gaap:OperatingLossCarryforwardsExpirationDate id="Fact_1756eb80184c4218b7ff61f15bd5384e" contextRef="c20190901to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember_RangeAxis_MinimumMember">2036-08-31</us-gaap:OperatingLossCarryforwardsExpirationDate>
  <!--Net operating loss carryforwards, expiration date-Domestic Tax Authority [Member]-Maximum [Member]-->
  <us-gaap:OperatingLossCarryforwardsExpirationDate id="Fact_251e4191da2b4256bde451b55d3674ee" contextRef="c20190901to20200531_IncomeTaxAuthorityAxis_DomesticCountryMember_RangeAxis_MaximumMember">2038-08-31</us-gaap:OperatingLossCarryforwardsExpirationDate>
  <!--Net operating loss carryforwards, expiration date-Maximum [Member]-State and Local Jurisdiction [Member]-->
  <us-gaap:OperatingLossCarryforwardsExpirationDate id="Fact_2cfbef7e2b444caa8168e1384bd2a179" contextRef="c20190901to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember_RangeAxis_MaximumMember">2036-08-31</us-gaap:OperatingLossCarryforwardsExpirationDate>
  <!--Net operating loss carryforwards, expiration date-State and Local Jurisdiction [Member]-Minimum [Member]-->
  <us-gaap:OperatingLossCarryforwardsExpirationDate id="Fact_9a7b4227e83942d79557e5582ff14eee" contextRef="c20190901to20200531_IncomeTaxAuthorityAxis_StateAndLocalJurisdictionMember_RangeAxis_MinimumMember">2035-08-31</us-gaap:OperatingLossCarryforwardsExpirationDate>
  <!--Operating Lease, Weighted Average Remaining Lease Term-->
  <us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1 id="Fact_b12657de397d4066b6dd501617c017ff" contextRef="c20200531">P2Y8M12D</us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1>
  <!--Operating Income (Loss)-->
  <us-gaap:OperatingIncomeLoss id="Fact_12f465f3b89e41578655f3a82ee64f85" contextRef="c20190301to20190531" unitRef="U002" decimals="0">1158831</us-gaap:OperatingIncomeLoss>
  <!--Operating Income (Loss)-->
  <us-gaap:OperatingIncomeLoss id="Fact_3dc7492c61324f4c9473910e0efdf9b7" contextRef="c20180901to20190531" unitRef="U002" decimals="0">1402222</us-gaap:OperatingIncomeLoss>
  <!--Operating Income (Loss)-->
  <us-gaap:OperatingIncomeLoss id="Fact_89344ae342324f13a8e9523b1d8300e9" contextRef="c20200301to20200531" unitRef="U002" decimals="0">-142657</us-gaap:OperatingIncomeLoss>
  <!--Operating Income (Loss)-->
  <us-gaap:OperatingIncomeLoss id="Fact_c00b2bace2d845d1a868c7133e979478" contextRef="c20190901to20200531" unitRef="U002" decimals="0">784122</us-gaap:OperatingIncomeLoss>
  <!--Operating Loss Carryforwards-->
  <us-gaap:OperatingLossCarryforwards id="Fact_f171fc956dae4cb885a4e5bb7a3cbb5a" contextRef="c20190831" unitRef="U002" decimals="-5">2500000</us-gaap:OperatingLossCarryforwards>
  <!--PRESENTATION OF INTERIM INFORMATION-->
  <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock id="Fact_11e8ad27842f47bda41b6bd411bf3bd9" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 1 &amp;#8211; PRESENTATION OF INTERIM INFORMATION&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The May 31, 2020 consolidated balance sheet, the consolidated statements of operations and comprehensive income for the three and nine months ended May 31, 2020 and 2019, the consolidated statements of shareholders&amp;#8217; equity for the three and nine months ended May 31, 2020 and 2019, and the consolidated statements of cash flows for the nine months ended May 31, 2020 and 2019 have been prepared by Pure Cycle Corporation (the &amp;#8220;Company&amp;#8221;) and have not been audited. The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows at May 31, 2020, and for all periods presented.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#8220;GAAP&amp;#8221;) have been condensed or omitted. It is suggested that the accompanying consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company&amp;#8217;s Annual Report on Form 10-K for the fiscal year ended August 31, 2019 (the &amp;#8220;2019 Annual Report&amp;#8221;) filed with the Securities and Exchange Commission (the &amp;#8220;SEC&amp;#8221;) on November 12, 2019. The results of operations for interim periods presented are not necessarily indicative of the operating results expected for the full fiscal year. The August 31, 2019 balance sheet was derived from the Company&amp;#8217;s audited consolidated financial statements.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Coronavirus Aid, Relief, and Economic Security Act (&amp;#8220;CARES Act&amp;#8221;)&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="color: rgb(0, 0, 0);"&gt;On March 27, 2020, Congress enacted the CARES Act to provide certain relief as a result of &lt;/font&gt;&lt;font style="background-color: rgb(255, 255, 255); color: rgb(33, 37, 41);"&gt;the recent outbreak of a novel strain of the coronavirus (&amp;#8220;COVID-19&amp;#8221;)&lt;/font&gt;&lt;font style="color: rgb(0, 0, 0);"&gt; pandemic. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property, and the creation of certain refundable employee retention credits. We are currently evaluating the impact on our financial statements and have not yet quantified what material impacts to the financial statements, if any, that may result from the CARES Act.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;On April 17, 2020, the Company entered into a $390,000 note payable with Central Bank &amp;amp; Trust part of Farmers &amp;amp; Stockmens Bank pursuant to the Paycheck Protection Program (&amp;#8220;PPP Loan&amp;#8221;) under the CARES Act. On May 13, 2020, the Company returned the entire outstanding balance of $390,278, inclusive of interest.&amp;#160; The interest was waived by Central Bank &amp;amp; Trust.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Reclassifications&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;Certain reclassifications have been made to the 2019 financial statements to conform to the consolidated 2020 financial statement presentation. These reclassifications had no effect on net earnings or cash flows previously reported.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Use of Estimates&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used to account for certain items such as revenue recognition, reimbursable costs and expenses, costs of revenue for lot sales, share-based compensation, deferred tax asset valuation, depreciation and the recoverability of long lived assets. &lt;font style="background-color: #FFFFFF; color: #212529;"&gt;Actual results and outcomes may differ from management&amp;#8217;s estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to COVID-19.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Cash and Cash Equivalents&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less. The Company&amp;#8217;s cash equivalents are comprised entirely of money market funds maintained at a reputable financial institution and U.S. Treasury debt securities. At various times during the three months ended May 31, 2020, the Company&amp;#8217;s main operating account exceeded federally insured limits. To date, the Company has not suffered a loss due to such excess balance.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Land Development Inventories&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Land development inventories primarily include land held for development and sale, which are stated at cost. The majority of the costs included in the Land development inventories line relate to costs to acquire and develop the Company&amp;#8217;s Sky Ranch development. Sky Ranch is a 930-acre master planned development located in Arapahoe County, Colorado, and the Land development inventories account reflects costs incurred to construct infrastructure on the lots at Sky Ranch that meet the Company&amp;#8217;s capitalization criteria for improvements. Costs are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company accumulates land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales over time based on inputs of costs incurred to date to total estimated costs to complete.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company values land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent sales prices for comparable lots. If a sales price is not available, the Company will consider several factors, including, but not limited to, current market conditions, and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its estimated net realizable value.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Contract Asset&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="color: #000000;"&gt;Contract receivables are recorded at the invoiced amount and do not bear interest. Credit is extended based on the evaluation of a customer&amp;#8217;s financial condition and collateral is not required. &lt;/font&gt;Contract assets&lt;font style="color: #000000;"&gt; reflect revenue which has been earned but not yet invoiced. The contract assets are transferred to receivables when the Company has the right to bill such amounts and they are invoiced.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Investments&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determinations each reporting period.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Securities that the Company does not have the positive intent or ability to hold to maturity, including certificate of deposits and U.S. Treasury debt securities, are reported at their fair value. Changes in value of such securities are recorded as a component of &lt;font style="font-style: italic;"&gt;Accumulated other comprehensive income (loss).&lt;/font&gt; The cost of securities sold is based on the specific identification method. As of May 31, 2020, the Company held no securities.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Concentration of Credit Risk and Fair Value&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and investments. From time to time, the Company places its cash in money market instruments, certificates of deposit and U.S. Treasury obligations. To date, the Company has not experienced significant losses on any of these investments.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the measurement falls.&amp;#160; The estimated fair value measurements in Note 2 &amp;#8211; &lt;font style="font-style: italic;"&gt;Fair Value Measurements&lt;/font&gt; are based on Level 2 of the fair value hierarchy.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Cash and Cash Equivalents &amp;#8211;&lt;/font&gt; The Company&amp;#8217;s cash and cash equivalents are reported using the values as reported by the financial institution where the funds are held. These securities primarily include balances in the Company&amp;#8217;s operating and savings accounts. The carrying amount of cash and cash equivalents approximate fair value.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Trade Accounts Receivable &amp;#8211;&lt;/font&gt; The Company records accounts receivable net of allowances for uncollectible accounts and the carrying value approximate fair value due to the short-term nature of the receivables.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Investments &amp;#8211; &lt;/font&gt;The carrying amounts of investments are recorded at fair value. Investments are described further in Note 2 &amp;#8211; &lt;font style="font-style: italic;"&gt;Fair Value Measurements.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Accounts Payable &amp;#8211;&lt;/font&gt; The carrying amounts of accounts payable approximate fair value due to the relatively short period to maturity for these instruments.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Long-Term Financial Liabilities&lt;/font&gt;&lt;font style="font-weight: bold;"&gt; &amp;#8211;&lt;/font&gt; The Comprehensive Amendment Agreement No. 1 (the &amp;#8220;CAA&amp;#8221;) is comprised of a recorded balance at fair value and an off-balance sheet or &amp;#8220;contingent&amp;#8221; obligation associated with the Company&amp;#8217;s acquisition of its &amp;#8220;Rangeview Water Supply&amp;#8221; (as defined in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report). The amount payable is a fixed amount but is repayable only upon the sale of &amp;#8220;Export Water&amp;#8221; (as defined in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report). Because of the uncertainty of the sale of Export Water, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. The CAA is described further in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Long-Term Obligations and Operating Lease &amp;#8211; Participating Interests in Export Water Supply&lt;/font&gt;.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Notes Receivable &amp;#8211; Related Parties&lt;/font&gt;&lt;font style="font-weight: bold;"&gt; &amp;#8211; &lt;/font&gt;The carrying amounts of the &lt;font style="font-style: italic;"&gt;Notes receivable &amp;#8211; related parties &lt;/font&gt;(including with the Rangeview Metropolitan District (the &amp;#8220;Rangeview District&amp;#8221;) and the Sky Ranch Community Authority Board (the &amp;#8220;CAB&amp;#8221;)) approximate their fair value because the interest rates on the notes approximate market rates.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Off-Balance Sheet Instruments &amp;#8211; &lt;/font&gt;The Company&amp;#8217;s off-balance sheet instruments consist entirely of the contingent portion of the CAA. Because repayment of this portion of the CAA is contingent on the sale of Export Water, which is not reasonably estimable, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. See further discussion in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Long-Term Obligations and Operating Lease &amp;#8211; Participating Interests in Export Water Supply&lt;/font&gt;.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Revenue Recognition&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company disaggregates revenue by major product line as reported on the consolidated statements of operations and comprehensive income.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company generates revenues primarily through two lines of business: (i) through the provision of wholesale water and wastewater services and (ii) through the sale of developed land predominately in the form of residential lots, both of which are described in greater detail below..&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="font-style: italic; font-weight: bold;"&gt;Wholesale Water and Wastewater Service Fees&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company generates revenue through its wholesale water and wastewater services predominantly from three sources, which are described in detail below:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(i)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Monthly water usage and wastewater treatment fees&lt;/u&gt;&amp;#160;&lt;font style="font-weight: bold; font-style: italic;"&gt;&amp;#8211;&lt;/font&gt; The Company provides water and wastewater services to customers, for which the customers are charged fees monthly. Water usage fees are assessed to customers based on actual metered usage each month plus a base monthly service fee assessed per single family equivalent (&amp;#8220;SFE&amp;#8221;) unit served. One SFE is a customer, whether residential, commercial or industrial, that imparts a demand on the Company&amp;#8217;s water or wastewater systems similar to the demand of a family of four persons living in a single-family house on a standard-sized lot. Water usage pricing is based on a tiered pricing structure. The Company recognizes wholesale water usage revenues at a point in time upon delivering water to its customers or its governmental customers&amp;#8217; end-use customers, as applicable. Revenues recognized by the Company from the sale of &amp;#8220;Export Water&amp;#8221; and other portions of its &amp;#8220;Rangeview Water Supply&amp;#8221; off the &amp;#8220;Lowry Range&amp;#8221; are shown gross of royalties to the State of Colorado Board of Land Commissioners (the &amp;#8220;Land Board&amp;#8221;). The Company is the primary distributor of the Export Water and sets pricing for the sale of Export Water. Revenues recognized by the Company from the sale of water on the Lowry Range are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District. For water sales on the Lowry Range, the Rangeview District is directly selling the water and deemed the primary distributor of the water. The Rangeview District sets the price for the water sales on the Lowry Range. See further description of Export Water, the Lowry Range, and the Rangeview Water Supply in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; under &amp;#8220;Rangeview Water Supply and Water System&amp;#8221; in Part II, Item 8 of the 2019 Annual Report.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;In addition, the Company provides water for hydraulic fracturing to industrial customers in the oil and gas industry that are located in and adjacent to its service areas (referred to as &amp;#8220;O&amp;amp;G operations&amp;#8221;). O&amp;amp;G operations revenues are recognized at a point in time upon delivering water to a customer, unless other special arrangements are made.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company delivered 12.2 million and 96.9 million gallons of water to customers during the three months ended May 31, 2020 and May 31, 2019, respectively, of which 0% and 93% was used for oil and gas exploration. &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;The Company delivered 32.4 million and 232.3 million gallons of water to customers during the nine months ended &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2020&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; and &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2019&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;, respectively, of which 3% and 85% was used for oil and gas exploration.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company recognizes wastewater treatment revenues monthly based on a flat monthly fee and actual usage charges. The monthly wastewater treatment fees are shown net of amounts retained by the Rangeview District. Costs of delivering water and providing wastewater services to customers are recognized as incurred.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(ii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Water and wastewater tap fees/Special Facility funding&lt;/u&gt; &amp;#8211; The Company recognizes water and wastewater tap fees as revenue at the time the Company grants a right for the customer to tap into the water or wastewater service line to obtain service. Water tap fees recognized are based on the amounts billed by the Rangeview District and any amounts paid to third parties pursuant to the CAA as further described in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Long-Term Obligations and Operating Lease&lt;/font&gt; &amp;#8211; &lt;font style="font-style: italic;"&gt;Participating Interests&lt;/font&gt;&amp;#160;&lt;font style="font-style: italic;"&gt;in Export Water Supply&lt;/font&gt; below. The Company recognized $852,800 and $929,400 of water tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $3.2 million and $1.5 million of water tap revenues during the nine months ended May 31, 2020 and 2019, respectively. The Company recognized $152,100 and $153,800 of wastewater tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $602,900 and $256,300 of wastewater tap fee revenues during the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company recognizes construction fees, including fees received to construct &amp;#8220;Special Facilities&amp;#8221; (as defined &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;under &amp;#8220;&lt;/font&gt;&lt;font style="background-color: #FFFFFF; font-style: italic; color: #000000;"&gt;Critical Accounting Policies &amp;#8211; Revenue Recognition &amp;#8211; Wholesale Water and Wastewater Fees&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;&amp;#8221; &lt;/font&gt;below), over time as the construction is completed because the customer is generally able to use the property improvement to enhance the value of other assets during the construction period. Special Facilities are facilities that enable water to be delivered to a single customer and are not otherwise classified as a typical wholesale facility or retail facility. Temporary infrastructure required prior to construction of permanent water and wastewater systems or transmission pipelines to transfer water from one location to another are examples of Special Facilities. Management has determined that Special Facilities are separate and distinct performance obligations because these projects are contracted to construct a specific water and wastewater system or transmission pipeline and typically do not include multiple performance obligations in a contract with a customer. No Special Facilities revenue has been recognized during the three or nine months ended May 31, 2020 or 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top;"&gt;(iii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Consulting fees&lt;/u&gt; &amp;#8211; The Company recognizes consulting fees as revenues typically on a monthly basis. The Company earns these fees from municipalities and area water providers along the I-70 corridor, for which the Company provides contract operations services over time as services are consumed. Consulting fees are recognized monthly based on a flat monthly fee plus charges for additional work performed, if applicable. The Company recognized $13,800 and $37,900 of consulting fees during the three months ended May 31, 2020 and 2019, respectively, and $104,000 and $148,200 of consulting fees during the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="font-style: italic; font-weight: bold;"&gt;Land Development Activities&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company generates revenues through the sale of finished lots at its Sky Ranch development primarily from four sources of revenues, which are described in detail below:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(i)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Sale of finished lots&lt;/u&gt; &amp;#8211; The Company acquired approximately 930 acres of land zoned as a Master Planned Community known as Sky Ranch along the I-70 corridor east of Denver, Colorado. The Company has entered into purchase and sale agreements with three separate home builders pursuant to which the Company agreed to sell, and each builder agreed to purchase, residential lots at Sky Ranch. The Company began construction of lots in March 2018 and segments its reporting of the activity relating to the costs and revenues from the construction and sale of lots at Sky Ranch.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company sells lots at Sky Ranch pursuant to distinct agreements with each home builder. These agreements follow one of two formats. One format is the sale of a finished lot, whereby the purchaser pays for a ready-to-build finished lot and the sales price is paid in a lump-sum upon completion of the finished lot that is permit ready. The Company recognizes revenues at the point in time of the closing of the sale of a finished lot in which control transfers to the builder as the transaction cycle is complete and the Company has no further obligations for the lot. During the three months ended May 31, 2020, the Company received no payments and recognized no revenue from its agreement for the sale of ready-to-build finished lots. During the nine months ended May 31, 2020, the Company received payment and recognized revenue of $2,836,700 from one home builder in exchange for the delivery of 41 finished lots. &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;During the three months ended May 31, 2019, the Company received payment and recognized revenue of $1,770,000 from one home builder in exchange for the delivery of 25 finished lots. During the nine months ended May 31, 2019, the Company received payment and recognized revenue of $2,070,000 from one home builder in exchange for the delivery of 29 finished lots.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The second format is the sale of finished lots pursuant to a lot development agreement with builders, whereby the Company receives payments in stages that include (i) payment upon the delivery of platted lots (which requires the Company to deliver deeded title to individual lots), (ii) a second payment upon the completion of certain infrastructure milestones, and (iii) final payment upon the delivery of the finished lot. Ownership and control of the platted lots pass to the builders once the Company closes the sale of the platted lots. Because the builder (i.e., the customer) takes control of the lot at the first closing and subsequent improvements made by the Company improve the builder&amp;#8217;s lot as construction progresses, the Company accounts for revenue over time with progress measured based upon costs incurred to date compared to total expected costs.&amp;#160; Any revenue in excess of amounts entitled to be billed is reflected on the balance sheet as a contract asset, and amounts received in excess of revenue recognized are recorded as deferred revenue. As of May 31, 2020, the Company had received cumulative payments of approximately $21 million under development agreements relating to the sale of 293 lots from two home builders, of which approximately $18.6 million of revenue was recognized over time based on the costs incurred to date compared to total expected costs for full completion of the 293 lots. During the three months ended May 31, 2020 and 2019, the Company recognized $696,200 and $938,100 of lot sales over time, respectively. For the nine months ended May 31, 2020 and 2019, the Company recognized $8,666,800 and $3,965,700 of lot sales over time, respectively. The Company had deferred revenue related to lot sales of $2,526,200 as of May 31, 2020. The Company does not have any material significant payment terms as all payments are expected to be received within 12 months after the delivery of each platted lot. The Company adopted the practical expedient for financing components and does not need to account for a financing component of these lot sales as the delivery of lot sales is expected to occur within one year or less.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(ii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Reimbursable Costs for Public Improvements&lt;/u&gt; &amp;#8211; The CAB is required to construct certain public improvements, such as water distribution systems, sewer collection systems, storm water systems, drainage improvements, roads, curbs, sidewalks, landscaping and parks, the costs of which may qualify as reimbursable costs. Pursuant to its agreements with the CAB (see Note 6 &amp;#8211; &lt;font style="font-style: italic;"&gt;Related Party Transactions&lt;/font&gt;), the Company is obligated to finance this infrastructure. These public improvements are constructed pursuant to design standards specified by the Sky Ranch Districts and/or the CAB, and, after inspection and acceptance, are turned over to the applicable governmental entity to operate and maintain. As these public improvements are owned and operated on behalf of a governmental entity, they may qualify for reimbursement.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;Pursuant to the agreements with the CAB, the CAB is not required to make payments to the Company for any advances made by the Company or expenses incurred related to construction of public improvements unless and until the CAB and/or the Sky Ranch Districts issue bonds in an amount sufficient to reimburse the Company for all or a portion of the advances made and expenses incurred. Because the timing of the issuance and approval of any bonds is subject to considerable uncertainty, any potential reimbursable costs for the construction of public improvements, including construction support activities and project management fees, are initially capitalized in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories. &lt;/font&gt;If the bonds have not been approved and issued prior to the sale of the lots serviced by the public improvements, the costs are expensed through &lt;font style="font-style: italic;"&gt;Land development construction costs&lt;/font&gt; when the lots are sold consistent with other construction related costs. If bonds ultimately are issued, upon receipt of reimbursements by the Company, the Company records the reimbursements received as &lt;font style="font-style: italic;"&gt;Other income &lt;/font&gt;to the extent that costs have previously been expensed and reduces &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; by any remaining reimbursables received. The Company submits specific costs for reimbursement to the CAB.&lt;font style="font-style: italic;"&gt;&amp;#160;&lt;/font&gt;If reimbursable costs received exceed actual expenses incurred by the Company for the cost of the public improvements, they are recorded as &lt;font style="font-style: italic;"&gt;other income &lt;/font&gt;as received.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;All amounts owed under the &amp;#8220;2018 FFAA&amp;#8221; (as defined in Note 6 &amp;#8211; &lt;font style="font-style: italic;"&gt;Related Party Transactions&lt;/font&gt;) bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest income is not recognized on the amounts owed by the CAB until the bonds are issued. To date, the Company has deferred the recognition of $1,052,900 of interest income on advances made to the CAB.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;On November 19, 2019, the CAB sold tax-exempt, fixed rate senior bonds in the aggregate principal amount of $11,435,000 and tax-exempt, fixed-rate subordinate bonds in the aggregate principal amount of $1,765,000 (collectively, the &amp;#8220;Bonds&amp;#8221;). Upon the issuance of the Bonds, the Company received $10.5 million as partial reimbursement for advances the Company made to the CAB pursuant to the 2018 FFAA to fund the construction of public improvements to the Sky Ranch property. Of the $10.5 million received by the Company, $6.3 million was recognized as &lt;font style="font-style: italic;"&gt;Income from reimbursement of construction costs (related party)&lt;/font&gt; in other income and the remaining $4.2 million partially reduced the remaining capitalized costs in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt;. As a result of the reimbursed costs, the margin from land development revenues is expected to increase to approximately 27%.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top;"&gt;(iii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Project management services&lt;/u&gt; &amp;#8211; On May 2, 2018, the Company entered into two Service Agreements for Project Management Services (the &amp;#8220;Project Management Agreements&amp;#8221;) with the CAB. Pursuant to the Project Management Agreements, the Company acts as the project manager and provides any and all services required to deliver the CAB-eligible improvements, including but not limited to CAB compliance; planning design and approvals; project administration; contractor agreements; and construction management and administration. The Company must submit to the CAB a monthly invoice, in a form acceptable to the CAB, detailing all project management activities during the period. The Company is responsible for all expenses it incurs in the performance of the Project Management Agreements and is not entitled to any reimbursement or compensation except as set forth in the Project Management Agreements, unless otherwise approved in advance by the CAB in writing. The CAB is subject to annual budget and appropriation procedures and does not intend to create a multiple-fiscal year direct or indirect debt or other financial obligation. The Company receives a project management fee of five percent (5%) of actual construction costs of CAB-eligible improvements. The project management fee qualifies as a reimbursable cost to the Company. The project management fee is based only on the actual costs of the improvements; thus, items such as fees, permits, review fees, consultant or other soft costs, and land acquisition or any other costs that are not directly related to the cost of construction of CAB-eligible improvements are not included in the calculation of the project management fee. Soft costs and other costs that are not directly related to the construction of CAB-eligible improvements are included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; and accounted for in the same manner as construction support activities as described below. Per the Project Management Agreements, no payment is required by the CAB with respect to project management fees unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables. Due to this contingency, the project management fees are being accrued to revenue with a corresponding allowance until the point in time when bonds are issued by the Sky Ranch Districts and/or the CAB and the CAB reimburses the Company for the public improvements. At that point, the portion of the project management fees repaid will be recognized as revenue. To date, the Company has accrued $1,371,600&lt;font style="font-weight: bold;"&gt;&amp;#160;&lt;/font&gt;in project management services to the CAB.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 18pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="vertical-align: top; width: 18pt;"&gt;&lt;div style="text-align: justify;"&gt;(iv)&lt;/div&gt;&lt;/td&gt;&lt;td style="align: left; vertical-align: top; width: auto;"&gt;&lt;div style="text-align: justify;"&gt;&lt;u&gt;Construction support activities&lt;/u&gt; &amp;#8211; The Company performs certain construction activities at Sky Ranch. The activities performed include construction and maintenance of the grading erosion and sediment control best management practices and other construction-related services. These activities are invoiced upon completion and are included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; and subsequently expensed through &lt;font style="font-style: italic;"&gt;Land development construction costs&lt;/font&gt; unless or until bonds are issued by the Sky Ranch Districts (as defined in Note 6 &amp;#8211; &lt;font style="font-style: italic;"&gt;Related Party Transactions&lt;/font&gt;) and/or the CAB and the CAB reimburses the Company for public improvements. Refer to section (ii) &lt;font style="font-style: italic;"&gt;Reimbursable Costs for Public Improvements&lt;/font&gt; for details on repayment of reimbursable costs. To date, the Company has invoiced the CAB $581,100 for construction support activities, which amount is included in &lt;font style="font-style: italic;"&gt;Land development inventories&lt;/font&gt;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;Unpaid reimbursable costs the Company believes are recoverable from the CAB pursuant to the 2018 FFAA, are recorded to a Note Receivable from the CAB. Each reporting period, the Company performs an analysis on the collectability of the receivable from the CAB and the recoverability of the outstanding reimbursable costs to determine if the amounts should be expensed. The following table summarizes all reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;As of May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Costs incurred to date&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Payments repaid by&lt;/div&gt;&lt;div&gt;CAB&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Net costs incurred to date&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Public Improvements&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;25,431,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;10,505,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;14,926,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Accrued interest&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,052,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,052,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Project management services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,371,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,371,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Construction support activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;581,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;581,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Total reimbursable costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;28,437,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;10,505,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;17,932,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company expects to incur an additional $3.5 million through the end of the calendar year 2020 for construction costs related to public improvements to complete its initial 506 lots and expects to be reimbursed an additional $21.6 million. Pursuant to the Company's agreements with the CAB, no payment is required by the CAB with respect to reimbursable costs unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company evaluated disaggregation of revenue and has determined that no additional disaggregation of revenue is necessary.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Contract asset by segment is as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company did not have a contract asset at May 31, 2020 and 2019 or August 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Changes in contract asset were as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, beginning of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Recognition of land development revenue contract asset&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,020,146&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Land development contract asset invoiced&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(1,020,146&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Deferred revenue by segment is as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,526,155&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;3,991,535&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Oil and gas leases and water sales payment&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;2,467,649&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;1,067,348&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,993,804&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The current portion of deferred revenue for oil and gas leases and water sales payment as of May 31, 2020 and August 31, 2019,&amp;#160; is $2,254,830 and $706,464, respectively. There were no water segment deferred revenues as of May 31, 2019 and August 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Changes in deferred revenue were as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, beginning of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;477,161&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Deferral of revenue&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;15,949,872&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;24,998,964&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Recognition of unearned revenue&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(16,014,951&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(20,417,242&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,993,804&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The recognition of unearned revenue was $11,503,523 and $11,955,989 from land development activities and $4,511,428 and $8,461,253 from oil and gas leases and water sales payments for the nine months ended May 31, 2020 and August 31, 2019, respectively.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (&amp;#8220;contracted not recognized revenue&amp;#8221;), which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. At May 31, 2020, the Company had outstanding open contracts for $12,957,000, which primarily relate to the 115 lots of the initial 506 lots at Sky Ranch that remain unsold. The Company expects to recognize approximately 98% of such revenue over the next 12 months.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Land Development Inventories&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Land development inventories primarily include real estate held for development and sale, which the Company has begun developing and are stated at cost. Capitalized lot development costs at Sky Ranch are costs incurred to construct required infrastructure to produce finished lots at Sky Ranch that meet the Company&amp;#8217;s capitalization criteria for lot improvements and are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company uses the specific identification method for purposes of accumulating land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales when a lot is completed and sold on a lot-by-lot basis. Costs included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; include common area costs that the Company funded through the CAB. The Company expects that such costs will be reimbursable by the CAB. The Company records future reimbursements as a reduction of reimbursable capitalized costs remaining in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; once the CAB has the ability to reimburse the costs (i.e., once the Sky Ranch Districts and/or the CAB has issued bonds).&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company measures land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent comparable sales prices. If recent sales prices are not available, the Company will consider several factors, including, but not limited to, current market conditions, nearby recent sales transactions and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its net realizable value.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Royalty and Other Obligations&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Revenues from the sale of Export Water are shown gross of royalties payable to the Land Board. Revenues from the sale of water on the Lowry Range are invoiced directly by the Rangeview District, and a percentage of such collections are then paid to the Company by the Rangeview District. Water revenue from such sales are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Oil and Gas Lease Payments&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As described in Note 2 &amp;#8211; &lt;font style="font-style: italic;"&gt;Summary of Significant Accounting Policies&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report, the Company entered into a Paid-Up Oil and Gas Lease (the &amp;#8220;Sky Ranch O&amp;amp;G Lease&amp;#8221;) and a Surface Use and Damage Agreement that were subsequently purchased by a wholly owned subsidiary of ConocoPhillips Company and recently acquired by Crestone Peak Resources. Six wells have been drilled within the Company&amp;#8217;s mineral interest and placed into service (four new wells beginning in fiscal 2020) and are producing oil and gas and accruing royalties to the Company. During the three months ended May 31, 2020 and 2019, the Company received $74,100 and $37,300 net of taxes, respectively, in royalties attributable to these wells. During the nine months ended May 31, 2020 and 2019, the Company received $612,700 and $113,100 net of taxes, respectively, in royalties attributable to these wells. The Company classifies income from oil and gas lease and royalty payments as &lt;font style="font-style: italic;"&gt;Other income&lt;/font&gt; in the statement of operations and comprehensive income as the Company does not consider these arrangements to be a primary operating business activity.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Deferred Revenue&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In July 2019, the Company received an up-front payment of $573,700 from an Agreement on Locations of Oil and Gas Operations&amp;#160; (the &amp;#8220;OGOA&amp;#8221;) for a pad site covering approximately 16 acres with the operator of the Sky Ranch O&amp;amp;G Lease, which will be recognized as income on a straight-line basis over three years. If after three years the operator has not spud at least one well on the OGOA, the operator may extend the right to the OGOA one additional year by paying the Company $75,000. The operator may only extend the OGOA for two additional years for a total of five years. The Company recognizes the up-front payments on a straight-line basis over the terms of the respective agreements. During the three and nine months ended May 31, 2020, the Company recognized $47,800 and $143,400 of income, respectively, related to the up-front payments received pursuant to the OGOA. No revenue was recognized for the three or nine months ended May 31, 2019 related to the up-front payments received pursuant to the OGOA. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $404,000 and $547,500, respectively, related to the OGOA.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In September 2017, the Company entered into a Paid-Up Oil and Gas Lease with Bison Oil and Gas, LLP (the &amp;#8220;Bison Lease&amp;#8221;). Pursuant to the Bison Lease, the Company received an up-front payment of $167,200 in October 2017, which will be recognized as income on a straight-line basis over the three year term of the lease. The Company recognized lease income of $13,900 during the three months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. The Company recognized lease income of $41,800 during the nine months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $18,600 and $60,400, respectively, related to the Bison Lease that will be recognized as income ratably through September 2020.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As of May 31, 2020, the Company has also billed and received payments of $2.0 million from one of its industrial water customers to reserve first priority water for O&amp;amp;G operations for defined periods through December 2020. As the customer uses the forecasted volumes each month, the Company will recognize revenue based on the volumes used. The customer may take such volumes up to one year from invoice date. If the customer does not take the forecasted volumes in the anticipated period, such volumes are forfeited by the customer. At that time, any payments received for unused volumes will be recognized as revenue. As of May 31, 2020, the Company had deferred revenue of $2.0 million as a result of these advanced water purchase payments.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Long-Lived Assets&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the eventual use of the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Costs to construct water and wastewater systems that meet the Company&amp;#8217;s capitalization criteria are capitalized as incurred, including any interest, and depreciated on a straight-line basis over their estimated useful lives of up to 30 years. The Company capitalizes design and construction costs related to construction activities, and it capitalizes certain legal, engineering and permitting costs relating to the adjudication and improvement of its water assets. The Company depletes its groundwater assets that are being utilized on the basis of units produced (i.e., thousands of gallons sold) divided by the total volume of water adjudicated in the water decrees.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Share-Based Compensation&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company maintains an equity incentive plan for the benefit of its employees and non-employee directors. The Company records share-based compensation costs as expense over the applicable vesting period of the stock award using the straight-line method. The compensation costs to be expensed are measured at the grant date based on the fair value of the award. The Company has adopted the alternative transition method for calculating the tax effects of share-based compensation, which allows for a simplified method of calculating the tax effects of employee share-based compensation. The impact on the income tax provision for the granting and exercise of stock options during the three and nine months ended May 31, 2020 was a deferred tax benefit of $18,700 and a deferred tax benefit of $39,000, respectively. Because the Company had a full valuation allowance on its deferred tax assets as of November 30, 2018, there was no effect on the tax provision during the period. The Company recognized $81,900 of share-based compensation expense and $96,100 of share-based compensation expense during the three months ended May 31, 2020 and 2019, respectively. The Company recognized $435,100 of share-based compensation expense, which included unrestricted stock grants, and $257,800 of share-based compensation expense during the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Income Taxes&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company uses a &amp;#8220;more-likely-than-not&amp;#8221; threshold for the recognition and de-recognition of tax positions, including any potential interest and penalties relating to tax positions taken by the Company. The Company did not have any significant unrecognized tax benefits as of May 31, 2020.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As a result of H.R.1, commonly known as the Tax Cuts and Jobs Act (the &amp;#8220;Tax Act&amp;#8221;), signed into law on December 22, 2017, the Company has a $282,000 alternative minimum tax (&amp;#8220;AMT&amp;#8221;) deferred tax asset for which it did not have a valuation allowance as of May 31, 2020 and August 31, 2019.&amp;#160; The Company expects to receive the AMT as a refund in future years.&amp;#160; Most, if not all, of this credit will be refundable with the filing of the 2018 (fiscal year ended 2019) through 2019 (fiscal year ending 2020) tax returns, subject to limitations of Internal Revenue Code Section 382 (arises with ownership changes) and the sequestration limitation of the Balanced Budget Act of 1997.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;The Company&amp;#8217;s effective tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020, respectively. The effective tax rate was 0% for the three and nine months ended May 31, 2019 due to the valuation allowance the Company maintained on its net deferred tax asset.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company records deferred tax assets and liabilities for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying consolidated balance sheets, as well as operating loss and tax credit carry-forwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;The Company maintained a valuation allowance on the net deferred tax asset other than AMT credits as of May 31, 2019, as the Company had determined it was more likely than not that the Company would not realize its deferred tax assets as of May 31, 2019. Such assets primarily consisted of operating loss carryforwards. The Company assessed the realizability of its deferred tax asset using all available evidence. In particular, the Company considered both historical results and projections of profitability for the reasonably foreseeable future periods. The Company is required to reassess its conclusions regarding the realization of its deferred tax assets at each financial reporting date. As a result of the evaluation, the Company concluded that all of the valuation allowance was no longer necessary as of August 31, 2019 and released the valuation allowance.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company files income tax returns with the Internal Revenue Service and the State of Colorado. The tax years that remain subject to examination are fiscal year 2015 through fiscal year 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company&amp;#8217;s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. At May 31, 2020, the Company did not have any accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense recognized during the nine months ended May 31, 2020 and 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Earnings per Common Share&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Earnings per common share is computed by dividing net income by the weighted average number of shares outstanding during each period presented. For the three months ended May 31, 2020 and 2019, respectively, options to acquire common stock of 200,056 and 201,644 common share equivalents were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options of 229,142 and 206,934 common share equivalents as of the nine months ended May 31, 2020 and 2019, respectively, were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options aggregating 180,000 and 0 common share equivalents as of the three and nine months ended May 31, 2020, respectively, have been excluded from the calculation of income per common share as their effect is anti-dilutive. Common stock options aggregating 50,000 common share equivalents as of the three and nine months ended May 31, 2019, have been excluded from the calculation of income per common share as their effect is anti-dilutive.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Recently Issued Accounting Pronouncements&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company continually assesses new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company&amp;#8217;s financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and to ensure that there are proper controls in place to ascertain that the Company&amp;#8217;s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In February 2016, the Financial Accounting Standards Board (the &amp;#8220;FASB&amp;#8221;) issued Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) No. 2016-02, &lt;font style="font-style: italic;"&gt;Leases (Topic 842). &lt;/font&gt;ASU 2016-02&lt;font style="font-style: italic;"&gt;&amp;#160;&lt;/font&gt;provides guidance on the recognition, measurement, presentation and disclosure of leases. The new standard supersedes the present GAAP standard on leases and requires substantially all leases to be reported on the balance sheet as right-of-use assets and lease obligations. This standard is effective for fiscal years beginning after December 15, 2018. The Company adopted the standard effective September 1, 2019, and recorded a right-of-use asset of approximately $258,900 and a lease obligation liability of approximately $252,300.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In June 2016, the FASB issued ASU No. 2016-13, &lt;font style="font-style: italic;"&gt;Financial Instruments &amp;#8211; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments &lt;/font&gt; (&amp;#8220;ASU 2016-13&amp;#8221;). Among other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 was set to be effective for public companies on January 1, 2020; however, the FASB delayed the effective date to January 1, 2023 for smaller reporting companies. The Company &lt;font style="color: #212529;"&gt;continues to monitor economic implications of the COVID-19 pandemic; however, based on current market conditions, we do not expect the impact of ASU 2016-13 to be material upon adoption.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock>
  <!--Other assets-->
  <us-gaap:OtherAssetsNoncurrent id="Fact_643474938aca4011b6fd2ae8b324d1fe" contextRef="c20190831" unitRef="U002" decimals="0">1945202</us-gaap:OtherAssetsNoncurrent>
  <!--Other assets-->
  <us-gaap:OtherAssetsNoncurrent id="Fact_fb4ebc96657b4a449d2e452a14b05f0a" contextRef="c20200531" unitRef="U002" decimals="0">2076989</us-gaap:OtherAssetsNoncurrent>
  <!--Unrealized holding losses-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_4c2e0c6eeb9a4cb0bb24990bd3869c86" contextRef="c20190301to20190531" unitRef="U002" decimals="0">-31</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_5b134abd1ff64a6084a8114771d2e200" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-53790</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_791624a3c1e041128e0e3c018aee3d78" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-3891</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_c48ab427541b42da85c1642dfec1f0a4" contextRef="c20200301to20200531" unitRef="U002" decimals="0">-233</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Additional Paid-in Capital [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_06c76b83e8f848c2b5b154115bae23be" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Preferred Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_17a47d80df504cbfb9dfcb1a2415342a" contextRef="c20190301to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Common Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_210805b8e29b4bb6ac5fcd1ea4051623" contextRef="c20180901to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-AOCI Attributable to Parent [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_2c8ee45fea1f479b9fd5540d0621af3a" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">-31</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Retained Earnings [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_48d112c6f138481a91b40d262af4c377" contextRef="c20190301to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Retained Earnings [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_54c07141ad3841a1aec3c8c7dc4c7d3d" contextRef="c20180901to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Preferred Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_6567c2ab393046b693f767277e8909f0" contextRef="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Retained Earnings [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_6699d0be76a343f2bac5318176b77189" contextRef="c20190901to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Preferred Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_6c2d8c05688946b199ba2cf851f0f59d" contextRef="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Retained Earnings [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_70c16be464574e45801192f5fdac7c20" contextRef="c20200301to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Additional Paid-in Capital [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_71751a865c254aa5a7187a10973e06d6" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-AOCI Attributable to Parent [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_72197d38d3a94c55bcb76c4050d8f896" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">-233</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Preferred Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_893d265935304dde92d6ffb379ed9820" contextRef="c20180901to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Common Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_98061039c4914a2884d35536a2d050e0" contextRef="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Additional Paid-in Capital [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_a262925c2a1942b7b9c77ef199bf99b6" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Common Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_ab9f68d4a52045509cffd002cb4b8ad9" contextRef="c20190301to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-AOCI Attributable to Parent [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_b6289de551e347b7b20c660e4227f960" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">-3891</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Additional Paid-in Capital [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_d18403fcafc041f3bccdd24a9494d66f" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-AOCI Attributable to Parent [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_d7faf67d7e2c4ad1a14afa8a922dd350" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">-53790</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Unrealized holding losses-Common Stock [Member]-->
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="Fact_fba2e06e90b84b41a5111a3f386a879c" contextRef="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <!--Other Nonoperating Income (Expense)-->
  <us-gaap:OtherNonoperatingIncomeExpense id="Fact_05f8ba3e93cf45dfa99c6913167f0372" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-4617</us-gaap:OtherNonoperatingIncomeExpense>
  <!--Other Nonoperating Income (Expense)-->
  <us-gaap:OtherNonoperatingIncomeExpense id="Fact_0fe08b8abe424274ae3e610dc3f72e2b" contextRef="c20190301to20190531" unitRef="U002" decimals="0">-2642</us-gaap:OtherNonoperatingIncomeExpense>
  <!--Other Nonoperating Income (Expense)-->
  <us-gaap:OtherNonoperatingIncomeExpense id="Fact_2099789a8ff4488892b170e61d9f670f" contextRef="c20200301to20200531" unitRef="U002" decimals="0">18600</us-gaap:OtherNonoperatingIncomeExpense>
  <!--Other Nonoperating Income (Expense)-->
  <us-gaap:OtherNonoperatingIncomeExpense id="Fact_9707f8f3137e48918c65cbcde6a4d5cb" contextRef="c20190901to20200531" unitRef="U002" decimals="0">18600</us-gaap:OtherNonoperatingIncomeExpense>
  <!--Operating payables-->
  <us-gaap:OtherAccruedLiabilitiesCurrent id="Fact_bbe05292638b4260b339ab876abe0ca9" contextRef="c20200531" unitRef="U002" decimals="0">1057200</us-gaap:OtherAccruedLiabilitiesCurrent>
  <!--Operating payables-->
  <us-gaap:OtherAccruedLiabilitiesCurrent id="Fact_e384ddb8d8dc43fa8b5d6a0f5dce7a79" contextRef="c20190831" unitRef="U002" decimals="0">2803900</us-gaap:OtherAccruedLiabilitiesCurrent>
  <!--Payments to Acquire Other Property, Plant, and Equipment-->
  <us-gaap:PaymentsToAcquireOtherPropertyPlantAndEquipment id="Fact_7f81f889fc834a619d4889c0fd337be6" contextRef="c20180901to20190531" unitRef="U002" decimals="0">320014</us-gaap:PaymentsToAcquireOtherPropertyPlantAndEquipment>
  <!--Payments to Acquire Other Property, Plant, and Equipment-->
  <us-gaap:PaymentsToAcquireOtherPropertyPlantAndEquipment id="Fact_e6ea6c1dfe184a7da6b72a541aa89739" contextRef="c20190901to20200531" unitRef="U002" decimals="0">525295</us-gaap:PaymentsToAcquireOtherPropertyPlantAndEquipment>
  <!--Payments to Acquire Short-term Investments-->
  <us-gaap:PaymentsToAcquireShortTermInvestments id="Fact_5d154f9221944c208c0bfff7bc31dc30" contextRef="c20190901to20200531" unitRef="U002" decimals="0">1720234</us-gaap:PaymentsToAcquireShortTermInvestments>
  <!--Payments to Acquire Short-term Investments-->
  <us-gaap:PaymentsToAcquireShortTermInvestments id="Fact_bf70472590fb487292d64f13d0765a46" contextRef="c20180901to20190531" unitRef="U002" decimals="0">34071015</us-gaap:PaymentsToAcquireShortTermInvestments>
  <!--Payments to Acquire Water and Waste Water Systems-Rangeview District [Member]-WISE Partnership [Member]-->
  <us-gaap:PaymentsToAcquireWaterAndWasteWaterSystems id="Fact_3f8fd2ddd84f450a8fba2f1753ffbb1b" contextRef="c20190901to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">582200</us-gaap:PaymentsToAcquireWaterAndWasteWaterSystems>
  <!--Payments to Acquire Water and Waste Water Systems-WISE Partnership [Member]-Rangeview District [Member]-->
  <us-gaap:PaymentsToAcquireWaterAndWasteWaterSystems id="Fact_5796f311525b414bb4d22296380cc83d" contextRef="c20200301to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">0</us-gaap:PaymentsToAcquireWaterAndWasteWaterSystems>
  <!--Payments to Acquire Water and Waste Water Systems-Rangeview District [Member]-WISE Partnership [Member]-->
  <us-gaap:PaymentsToAcquireWaterAndWasteWaterSystems id="Fact_7ef6396996284702b9a44b474152086d" contextRef="c20191201to20200229_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">582200</us-gaap:PaymentsToAcquireWaterAndWasteWaterSystems>
  <!--Liquidation preference-->
  <us-gaap:PreferredStockLiquidationPreferenceValue id="Fact_1019b463b07147c98ae08be35b7b7401" contextRef="c20190831" unitRef="U002" decimals="0">432513</us-gaap:PreferredStockLiquidationPreferenceValue>
  <!--Liquidation preference-->
  <us-gaap:PreferredStockLiquidationPreferenceValue id="Fact_54e8eae7ed7a477fbf391f459f0069cf" contextRef="c20200531" unitRef="U002" decimals="0">432513</us-gaap:PreferredStockLiquidationPreferenceValue>
  <!--Preferred stock, shares issued (in shares)-->
  <us-gaap:PreferredStockSharesIssued id="Fact_1173ff2426b64c4bb70534b6a2939361" contextRef="c20190831" unitRef="U001" decimals="INF">432513</us-gaap:PreferredStockSharesIssued>
  <!--Preferred stock, shares issued (in shares)-->
  <us-gaap:PreferredStockSharesIssued id="Fact_b4b1d6c2a23e4b1298934eaba1da0c36" contextRef="c20200531" unitRef="U001" decimals="INF">432513</us-gaap:PreferredStockSharesIssued>
  <!--Preferred Stock, Value, Issued-->
  <us-gaap:PreferredStockValue id="Fact_d4ece4e85f2743c9ab9769ec798951ce" contextRef="c20200531" unitRef="U002" decimals="0">433</us-gaap:PreferredStockValue>
  <!--Preferred Stock, Value, Issued-->
  <us-gaap:PreferredStockValue id="Fact_efce13ea48ac487ca7bc0b371492bacd" contextRef="c20190831" unitRef="U002" decimals="0">433</us-gaap:PreferredStockValue>
  <!--Preferred stock, shares outstanding (in shares)-->
  <us-gaap:PreferredStockSharesOutstanding id="Fact_6a881cc2dec24049ab80008a187d40a7" contextRef="c20190831" unitRef="U001" decimals="INF">432513</us-gaap:PreferredStockSharesOutstanding>
  <!--Preferred stock, shares outstanding (in shares)-->
  <us-gaap:PreferredStockSharesOutstanding id="Fact_6e0a5b706d2f471687878421aceb502a" contextRef="c20200531" unitRef="U001" decimals="INF">432513</us-gaap:PreferredStockSharesOutstanding>
  <!--Preferred stock, par value (in dollars per share)-->
  <us-gaap:PreferredStockParOrStatedValuePerShare id="Fact_59a829fa18d34a41afae9d221a69977b" contextRef="c20190831" unitRef="U003" decimals="INF">0.001</us-gaap:PreferredStockParOrStatedValuePerShare>
  <!--Preferred stock, par value (in dollars per share)-->
  <us-gaap:PreferredStockParOrStatedValuePerShare id="Fact_ce34bda65aa24bd089a33039ad9a648e" contextRef="c20200531" unitRef="U003" decimals="INF">0.001</us-gaap:PreferredStockParOrStatedValuePerShare>
  <!--Preferred stock, shares authorized (in shares)-->
  <us-gaap:PreferredStockSharesAuthorized id="Fact_ca620640ab114a4dac18c4142ef1c4b3" contextRef="c20190831" unitRef="U001" decimals="-6">25000000</us-gaap:PreferredStockSharesAuthorized>
  <!--Preferred stock, shares authorized (in shares)-->
  <us-gaap:PreferredStockSharesAuthorized id="Fact_dec80f4ee109481896972850f9820742" contextRef="c20200531" unitRef="U001" decimals="-6">25000000</us-gaap:PreferredStockSharesAuthorized>
  <!--Prepaid Expense, Current-->
  <us-gaap:PrepaidExpenseCurrent id="Fact_1aede9da59054aadaf7204d6e73c05a6" contextRef="c20200531" unitRef="U002" decimals="0">1063777</us-gaap:PrepaidExpenseCurrent>
  <!--Prepaid Expense, Current-->
  <us-gaap:PrepaidExpenseCurrent id="Fact_7800bbf78dc8434b96bcf8b11471c240" contextRef="c20190831" unitRef="U002" decimals="0">1016751</us-gaap:PrepaidExpenseCurrent>
  <!--Reclassifications-->
  <us-gaap:PriorPeriodReclassificationAdjustmentDescription id="Fact_3141eb4a9b6740ca931314d2a1229160" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Reclassifications&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; color: #000000;"&gt;Certain reclassifications have been made to the 2019 financial statements to conform to the consolidated 2020 financial statement presentation. These reclassifications had no effect on net earnings or cash flows previously reported.&lt;/div&gt;&lt;/div&gt;</us-gaap:PriorPeriodReclassificationAdjustmentDescription>
  <!--Proceeds from Sale, Maturity and Collection of Short-term Investments-->
  <us-gaap:ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments id="Fact_33a86e8451bc4025b780246493862229" contextRef="c20180901to20190531" unitRef="U002" decimals="0">36736420</us-gaap:ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments>
  <!--Proceeds from Sale, Maturity and Collection of Short-term Investments-->
  <us-gaap:ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments id="Fact_c96b9f8d4aef4c5d934dfd5d13fd8daf" contextRef="c20190901to20200531" unitRef="U002" decimals="0">6905157</us-gaap:ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments>
  <!--Proceeds from Customers for Progress Payments-Lot Sales Second Format [Member]-->
  <us-gaap:ProceedsFromCustomersForProgressPayments id="Fact_de0ac31d010d47d580028b2ce82d93ec" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U002" decimals="-6">21000000</us-gaap:ProceedsFromCustomersForProgressPayments>
  <!--Net proceeds from sale of bonds-->
  <us-gaap:ProceedsFromIssuanceOfSecuredTaxExemptDebt id="Fact_e70c22aedd684664a7f935e34ef4a62e" contextRef="c20191119to20191119" unitRef="U002" decimals="-5">10500000</us-gaap:ProceedsFromIssuanceOfSecuredTaxExemptDebt>
  <!--Proceeds from exercise of stock options-->
  <us-gaap:ProceedsFromStockOptionsExercised id="Fact_2b671cb6ba5c4992b9e541166665d5fc" contextRef="c20180901to20190531" unitRef="U002" decimals="0">114850</us-gaap:ProceedsFromStockOptionsExercised>
  <!--Proceeds from exercise of stock options-->
  <us-gaap:ProceedsFromStockOptionsExercised id="Fact_5c68b631f7f54b54b54baef47b6e5e61" contextRef="c20190901to20200531" unitRef="U002" decimals="0">40025</us-gaap:ProceedsFromStockOptionsExercised>
  <!--Estimated useful lives-Maximum [Member]-->
  <us-gaap:PropertyPlantAndEquipmentUsefulLife id="Fact_4f243be988494abeb27891c748fce59a" contextRef="c20190901to20200531_RangeAxis_MaximumMember">P30Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <!--WATER AND LAND ASSETS-->
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock id="Fact_3c1f9283feb344a587cea4d7ba0e4869" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 3 &amp;#8211; WATER AND LAND ASSETS&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company&amp;#8217;s water rights and current water and wastewater service agreements are more fully described in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report. There have been no significant changes to the Company&amp;#8217;s water rights or water and wastewater service agreements during the nine months ended May 31, 2020.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Investment in Water and Water Systems&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company&amp;#8217;s Investments in Water and Water Systems consist of the following costs and accumulated depreciation and depletion at May 31, 2020 and August 31, 2019:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Accumulated&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Depreciation&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;and Depletion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Accumulated&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Depreciation&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;and Depletion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Rangeview Water Supply&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;14,827,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(15,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;14,823,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(14,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Sky Ranch water rights and other costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;7,486,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(926,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;7,371,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(757,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Fairgrounds water and water system&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,899,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,216,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,899,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,151,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Rangeview water system&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;15,905,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(648,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;5,617,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(372,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Water Supply &amp;#8211; Other&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;7,542,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,036,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4,758,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(860,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Wild Pointe service rights&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,631,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(677,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,631,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(489,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Sky Ranch pipeline&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;5,727,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(554,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;5,723,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(411,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Lost Creek water supply&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;3,372,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;3,324,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Construction in progress&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,076,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;8,176,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Totals&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;60,469,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(5,075,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;54,327,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(4,056,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Net investments in water and water systems&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;55,393,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;50,270,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Capitalized terms in this section not defined herein are defined in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Rangeview water system includes the Sky Ranch water reclamation facility. The Company placed the facility in service during February 2020.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="color: rgb(0, 0, 0); text-align: justify;"&gt;&lt;font style="background-color: rgb(255, 255, 255);"&gt;Construction in progress primarily consists of additional water facilities at Sky Ranch. The Company anticipates the additional facilities will be placed in service during the fourth quarter of fiscal 2020.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Depletion and Depreciation&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company recorded an immaterial amount of depletion charges during the three and nine months ended May 31, 2020 and 2019. The depletion was related entirely to the Rangeview Water Supply.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company recorded $471,200 and $322,700 of depreciation expense during the three months ended May 31, 2020 and 2019, respectively. These figures include $85,600 and $97,800 of depreciation expense for other equipment not included in the table above during the three months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company recorded $1,253,200 and $812,700 of depreciation expense during the nine months ended May 31, 2020 and 2019, respectively. These figures include $265,900 and $276,200 of depreciation expense for other equipment not included in the table above during the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <!--Investments in Water and Water Systems-->
  <us-gaap:PropertyPlantAndEquipmentTextBlock id="Fact_fd0e39b903fc46cea0888e228008f816" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify;"&gt;The Company&amp;#8217;s Investments in Water and Water Systems consist of the following costs and accumulated depreciation and depletion at May 31, 2020 and August 31, 2019:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Accumulated&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Depreciation&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;and Depletion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Accumulated&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Depreciation&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;and Depletion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Rangeview Water Supply&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;14,827,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(15,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;14,823,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(14,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Sky Ranch water rights and other costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;7,486,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(926,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;7,371,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(757,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Fairgrounds water and water system&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,899,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,216,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,899,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,151,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Rangeview water system&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;15,905,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(648,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;5,617,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(372,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Water Supply &amp;#8211; Other&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;7,542,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,036,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4,758,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(860,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Wild Pointe service rights&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,631,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(677,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,631,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(489,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Sky Ranch pipeline&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;5,727,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(554,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;5,723,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(411,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Lost Creek water supply&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;3,372,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;3,324,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Construction in progress&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,076,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;8,176,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Totals&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;60,469,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(5,075,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;54,327,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(4,056,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Net investments in water and water systems&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;55,393,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;50,270,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <!--Project management fee percentage-Project Management Services [Member]-->
  <us-gaap:PropertyManagementFeePercentFee id="Fact_cdb0a0d1bfca450bbb6c5d10beada149" contextRef="c20190901to20200531_ProductOrServiceAxis_ProjectManagementServicesMember" unitRef="U008" decimals="2">0.05</us-gaap:PropertyManagementFeePercentFee>
  <!--Costs-Wild Pointe Service Rights [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_1e2eb76085e148fe951c9b0b7f1137af" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_WildPointeServiceRightsMember" unitRef="U002" decimals="0">1631800</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Lost Creek water supply [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_1fb06e1676a64b0b9fe8e022ec77427b" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_LostCreekWaterSupplyMember" unitRef="U002" decimals="0">3372500</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Fairgrounds Water And Water System [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_312e2872248e494fb4d284d568975855" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_FairgroundsWaterAndWaterSystemMember" unitRef="U002" decimals="0">2899800</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Water Supply - Other [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_31b99f961a124fe5938dc9c820fc8aa1" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_WaterSupplyOtherMember" unitRef="U002" decimals="0">7542500</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Rangeview Water Supply [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_3302a472867144e2baa1be9cbfd813d1" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSupplyMember" unitRef="U002" decimals="0">14827200</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Sky Ranch Water Rights And Other Costs [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_36aae2e2510e465ba5e0ff13d5edfcd1" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_SkyRanchWaterRightsAndOtherCostsMember" unitRef="U002" decimals="0">7486200</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Fairgrounds Water And Water System [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_3ee974d5ceb84517b7a0fba7e84cbc7c" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_FairgroundsWaterAndWaterSystemMember" unitRef="U002" decimals="0">2899800</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_43d848b4af994548bb2121cb7fa81f72" contextRef="c20190831" unitRef="U002" decimals="0">54327200</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Water Supply - Other [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_4a2307c043014847b3f1881f1f8781b0" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_WaterSupplyOtherMember" unitRef="U002" decimals="0">4758200</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Sky Ranch Water Rights And Other Costs [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_6a86ace38061469184b7e543e6b3e443" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_SkyRanchWaterRightsAndOtherCostsMember" unitRef="U002" decimals="0">7371500</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Rangeview Water System [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_787d43cd3ef04c21bb61f91a7807a0e6" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSystemMember" unitRef="U002" decimals="0">15905500</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Rangeview Water System [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_92989ff8f0334b0db2ce0c7aa0e87839" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSystemMember" unitRef="U002" decimals="0">5617800</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Construction in Progress [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_a91d7f1ea6f244c38af534513a97424d" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember" unitRef="U002" decimals="0">1076300</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Rangeview Water Supply [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_bae4ce484570425b9b56311d4bba892a" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_RangeviewWaterSupplyMember" unitRef="U002" decimals="0">14823800</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_c59fa07acb204f719f054df678c8ce25" contextRef="c20200531" unitRef="U002" decimals="0">60469100</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Sky Ranch pipeline [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_c60d8b42a0d64448882f4345d2e1f4e0" contextRef="c20200531_PropertyPlantAndEquipmentByTypeAxis_SkyRanchPipelineMember" unitRef="U002" decimals="0">5727300</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Construction in Progress [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_cbc1f7450d3a4eaf86592c1f58513a64" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember" unitRef="U002" decimals="0">8176600</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Lost Creek water supply [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_d8afa9a7a4e34c638868cdd58d05b929" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_LostCreekWaterSupplyMember" unitRef="U002" decimals="0">3324000</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Wild Pointe Service Rights [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_fb9efd01b4744e05bf6731664f5f3eaf" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_WildPointeServiceRightsMember" unitRef="U002" decimals="0">1631800</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Costs-Sky Ranch pipeline [Member]-->
  <us-gaap:PropertyPlantAndEquipmentGross id="Fact_ff87ef06ebf24adb9a4bc214f6375cd8" contextRef="c20190831_PropertyPlantAndEquipmentByTypeAxis_SkyRanchPipelineMember" unitRef="U002" decimals="0">5723700</us-gaap:PropertyPlantAndEquipmentGross>
  <!--Investments in water and water systems, net-->
  <us-gaap:PropertyPlantAndEquipmentNet id="Fact_86a58b0f19ec4be2b1bd6cd9e382cfb3" contextRef="c20190831" unitRef="U002" decimals="0">50270310</us-gaap:PropertyPlantAndEquipmentNet>
  <!--Investments in water and water systems, net-->
  <us-gaap:PropertyPlantAndEquipmentNet id="Fact_987892d3eacc4b528ad1cf2037fe5c90" contextRef="c20200531" unitRef="U002" decimals="0">55393452</us-gaap:PropertyPlantAndEquipmentNet>
  <!--Recovery of doubtful accounts-->
  <us-gaap:ProvisionForDoubtfulAccounts id="Fact_45e4a136b7f742c3ac709d969e534d9a" contextRef="c20180901to20190531" unitRef="U002" decimals="0">-31233</us-gaap:ProvisionForDoubtfulAccounts>
  <!--Recovery of doubtful accounts-->
  <us-gaap:ProvisionForDoubtfulAccounts id="Fact_7904425a4af4424da9a62f4e65a0f6b6" contextRef="c20190901to20200531" unitRef="U002" decimals="0">0</us-gaap:ProvisionForDoubtfulAccounts>
  <!--Long-term land investment-->
  <us-gaap:RealEstateInvestments id="Fact_87b50e782af24d49a300feefc8dbf357" contextRef="c20200531" unitRef="U002" decimals="0">450641</us-gaap:RealEstateInvestments>
  <!--Long-term land investment-->
  <us-gaap:RealEstateInvestments id="Fact_d2b8554bc1c54bb9928c6e70edaff202" contextRef="c20190831" unitRef="U002" decimals="0">450641</us-gaap:RealEstateInvestments>
  <!--Related Party Transaction, Amounts of Transaction-Rangeview District [Member]-WISE Partnership [Member]-->
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Fact_562d8450183b4fe6820b7b026d2f6700" contextRef="c20190901to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">17400</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <!--Related Party Transaction, Amounts of Transaction-Rangeview District [Member]-WISE Partnership [Member]-->
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Fact_b21d1243495048e2b2b1b6385893cf5a" contextRef="c20180901to20190831_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">22200</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <!--Related Party Transactions Disclosure [Text Block]-->
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock id="Fact_abb665c637ed4def95ebe8c34e54b123" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 6 &amp;#8211; RELATED PARTY TRANSACTIONS&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Rangeview District is a quasi-municipal corporation and political subdivision of Colorado formed in 1986 for the purpose of providing water and wastewater service to the Lowry Range and other approved areas. The Rangeview District is governed by an elected board of directors. Eligible voters and persons eligible to serve as a director of the Rangeview District must own an interest in property within the boundaries of the Rangeview District. The Company owns certain rights and real property interests which encompass the current boundaries of the Rangeview District. Sky Ranch Metropolitan District Nos. 1, 3, 4 and 5 (collectively, the &amp;#8220;Sky Ranch Districts&amp;#8221;) and the CAB are quasi-municipal corporations and political subdivisions of Colorado formed for the purpose of providing service to the Company&amp;#8217;s Sky Ranch property. The current members of the board of directors of each of the Rangeview District, the Sky Ranch Districts and the CAB consist of three employees of the Company and one independent board member.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="font-weight: bold;"&gt;&lt;u&gt;The Rangeview District&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;On December 16, 2009, the Company entered into a Participation Agreement with the Rangeview District, whereby the Company agreed to provide funding to the Rangeview District in connection with the Rangeview District joining the South Metro Water Supply Authority (&amp;#8220;SMWSA&amp;#8221;). The Company provides funding pursuant to the Participation Agreement annually with $17,400 and $22,200 being provided during fiscal years 2020 and 2019, respectively.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Through the WISE Financing Agreement, the Company agreed to fund the Rangeview District&amp;#8217;s cost of participating in the regional water supply project known as the WISE partnership. During the three months ended February 29, 2020, the Company, through the Rangeview District, purchased an additional 400 acre feet of WISE water for $582,200. The Company did not purchase any additional water during the three months ended May 31, 2020. The Company anticipates spending an additional $4.6 million over the next five fiscal years to fund the Rangeview District&amp;#8217;s purchase of its share of the water transmission line and additional facilities, water and related assets for WISE and to fund operations and water deliveries related to WISE. To date, the Company has capitalized the funding provided pursuant to the WISE Financing Agreement because the funding has been provided to purchase capacity in the WISE infrastructure. The Company&amp;#8217;s total investment in the WISE assets as of May 31, 2020, is $6.1 million.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In 1995, the Company extended a loan to the Rangeview District. The loan provided for borrowings of up to $250,000, is unsecured, and bears interest based on the prevailing prime rate plus 2% (5.25% at May 31, 2020). The maturity date of the loan is December 31, 2020, at which time it will automatically renew for another 12 month term. In January 2014, the Rangeview District and the Company entered into a funding agreement that allows the Company to continue to provide funding to the Rangeview District for day-to-day operations and accrue the funding into a note that bears interest at a rate of 8% per annum and remains in full force and effect for so long as the 2014 Amended and Restated Lease Agreement remains in effect. $1,031,500 of the balance in &lt;font style="font-style: italic;"&gt;Notes receivable - related parties, including accrued interest &lt;/font&gt;at May 31, 2020, includes borrowings by the Rangeview District of $590,300 and accrued interest of $441,200.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Sky Ranch Community Authority Board&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Pursuant to that certain Community Authority Board Establishment Agreement, as the same may be amended from time to time, Sky Ranch Metropolitan District Nos. 1 and 5 formed the CAB to, among other things, design, construct, finance, operate and maintain certain public improvements for the benefit of the property within the boundaries and/or service area of the Sky Ranch Districts. In order for the public improvements to be constructed and/or acquired, it is necessary for each Sky Ranch District, directly or through the CAB, to be able to fund the improvements and pay its ongoing operations and maintenance expenses related to the provision of services that benefit the property.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;On September 18, 2018, the parties entered into a series of agreements, including a Facilities Funding and Acquisition Agreement (the &amp;#8220;2018 FFAA&amp;#8221;), with an effective date of November 13, 2017, which supersedes and consolidates the previous funding agreements between the Company and the CAB and the Company and Sky Ranch Metropolitan District No. 5 pursuant to which&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;&amp;#9679;&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;the CAB agreed to repay the amounts owed by Sky Ranch Metropolitan District No. 5 to the Company, and the previous Facilities Funding and Acquisition Agreement entered into between the Company and Sky Ranch Metropolitan District No. 5 in 2014 was terminated;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;&amp;#9679;&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;a Project Funding and Reimbursement Agreement and a June 2018 Funding Acquisition Agreement between the CAB and the Company were terminated;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;&amp;#9679;&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;the CAB acknowledged all amounts owed to the Company under the terminated agreements, as well as amounts the Company incurred to finance the formation of the CAB; and&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;&amp;#9679;&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;the Company agreed to fund an agreed upon list of improvements to be constructed by the CAB with an estimated cost of $30,000,000 (including improvements already funded) on an as-needed basis for calendar years 2018&amp;#8211;2023.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;All amounts owed under the 2018 FFAA bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest income is not recognized on the amounts owed by the CAB until the bonds are issued. Due to this contingency, interest is deferred until the point in time when bonds are issued. At that point, the accrued interest will be recognized. The CAB agrees to exercise reasonable efforts to issue bonds to reimburse the Company subject to certain limitations. In addition, the CAB agrees to utilize any available moneys not otherwise pledged to payment of debt, used for operation and maintenance expenses, or otherwise encumbered, to reimburse the Company. Any advances not paid or reimbursed by the CAB by December 31, 2058, shall be deemed forever discharged and satisfied in full.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As of May 31, 2020, the balance of the Company&amp;#8217;s advances for improvements, excluding interest, net of costs reimbursed in November 2019, to the CAB totaled $14.9 million, of which $1.8 million is included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; and $13.1 million was expensed through &lt;font style="font-style: italic;"&gt;Land development construction costs&lt;/font&gt;. The advances have been used by the CAB to pay for construction of public improvements. The Company submits specific costs for reimbursement to the CAB.&amp;#160; Based on the specific costs being reimbursed by the CAB, the Company records those costs that have been previously expensed in cost of sales as other income and those costs that remain capitalized as land development inventory costs as a reduction of the related land development inventory costs held in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories.&lt;/font&gt; Any reimbursable costs repaid after all capitalized expenses and lot revenues have been fully recognized are recorded as other income.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Refer to Note 1 &amp;#8211; &lt;font style="font-style: italic;"&gt;Presentation of Interim Information - Revenue Recognition - Land Development Activities &lt;/font&gt;for a summary of reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In September 2018, effective as of November 13, 2017, the Company entered into an Operation Funding Agreement with the CAB obligating the Company to advance funding to the CAB for operation and maintenance expenses for the 2018 and 2019 calendar years. All payments are subject to annual appropriations by the CAB in its absolute discretion.&amp;#160; The advances by the Company accrue interest at the rate of 6% per annum from the date of the advance. $28,200 of the balance of the &lt;font style="font-style: italic;"&gt;Notes receivable &amp;#8211; related parties, including accrued interest&lt;/font&gt; at May 31, 2020, includes borrowings by the CAB of $25,500 and accrued interest of $2,700.&lt;/div&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <!--Rental Income, Nonoperating-->
  <us-gaap:RentalIncomeNonoperating id="Fact_286c83c012454ffd99cc7c3147dc8cfa" contextRef="c20200301to20200531" unitRef="U002" decimals="0">61740</us-gaap:RentalIncomeNonoperating>
  <!--Rental Income, Nonoperating-->
  <us-gaap:RentalIncomeNonoperating id="Fact_5e7ce6bd123c48288ab9d0ede5b74728" contextRef="c20190901to20200531" unitRef="U002" decimals="0">185221</us-gaap:RentalIncomeNonoperating>
  <!--Rental Income, Nonoperating-->
  <us-gaap:RentalIncomeNonoperating id="Fact_d53c89c467094804be2a12077dbcfa09" contextRef="c20190301to20190531" unitRef="U002" decimals="0">13933</us-gaap:RentalIncomeNonoperating>
  <!--Rental Income, Nonoperating-->
  <us-gaap:RentalIncomeNonoperating id="Fact_dc8bc19703354220854f044ce0f0b46a" contextRef="c20180901to20190531" unitRef="U002" decimals="0">41800</us-gaap:RentalIncomeNonoperating>
  <!--Repayment of note payable including interest-Paycheck Protection Program Loan [Member]-->
  <us-gaap:RepaymentsOfNotesPayable id="Fact_bb0dc2665ba24fb8b158c943c6eb26b0" contextRef="c20200513to20200513_DebtInstrumentAxis_PaycheckProtectionProgramLoanMember" unitRef="U002" decimals="0">390278</us-gaap:RepaymentsOfNotesPayable>
  <!--Accumulated deficit-->
  <us-gaap:RetainedEarningsAccumulatedDeficit id="Fact_175ea2113fb149509e3d4ac7e2970c4d" contextRef="c20190831" unitRef="U002" decimals="0">-97713023</us-gaap:RetainedEarningsAccumulatedDeficit>
  <!--Accumulated deficit-->
  <us-gaap:RetainedEarningsAccumulatedDeficit id="Fact_5ccfc6ed493d419898664a3ffb55f866" contextRef="c20200531" unitRef="U002" decimals="0">-91649303</us-gaap:RetainedEarningsAccumulatedDeficit>
  <!--Remaining performance obligation expected to be recognized in the next 12 months-Sky Ranch [Member]-->
  <us-gaap:RevenueRemainingPerformanceObligationPercentage id="Fact_bd0c706a011045eba855e98dfad13ea1" contextRef="c20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U008" decimals="2">0.98</us-gaap:RevenueRemainingPerformanceObligationPercentage>
  <!--Revenue Recognition-->
  <us-gaap:RevenueFromContractWithCustomerPolicyTextBlock id="Fact_72dffee9304c4e99a75f658f4a98a386" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Revenue Recognition&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company disaggregates revenue by major product line as reported on the consolidated statements of operations and comprehensive income.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company generates revenues primarily through two lines of business: (i) through the provision of wholesale water and wastewater services and (ii) through the sale of developed land predominately in the form of residential lots, both of which are described in greater detail below..&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="font-style: italic; font-weight: bold;"&gt;Wholesale Water and Wastewater Service Fees&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company generates revenue through its wholesale water and wastewater services predominantly from three sources, which are described in detail below:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(i)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Monthly water usage and wastewater treatment fees&lt;/u&gt;&amp;#160;&lt;font style="font-weight: bold; font-style: italic;"&gt;&amp;#8211;&lt;/font&gt; The Company provides water and wastewater services to customers, for which the customers are charged fees monthly. Water usage fees are assessed to customers based on actual metered usage each month plus a base monthly service fee assessed per single family equivalent (&amp;#8220;SFE&amp;#8221;) unit served. One SFE is a customer, whether residential, commercial or industrial, that imparts a demand on the Company&amp;#8217;s water or wastewater systems similar to the demand of a family of four persons living in a single-family house on a standard-sized lot. Water usage pricing is based on a tiered pricing structure. The Company recognizes wholesale water usage revenues at a point in time upon delivering water to its customers or its governmental customers&amp;#8217; end-use customers, as applicable. Revenues recognized by the Company from the sale of &amp;#8220;Export Water&amp;#8221; and other portions of its &amp;#8220;Rangeview Water Supply&amp;#8221; off the &amp;#8220;Lowry Range&amp;#8221; are shown gross of royalties to the State of Colorado Board of Land Commissioners (the &amp;#8220;Land Board&amp;#8221;). The Company is the primary distributor of the Export Water and sets pricing for the sale of Export Water. Revenues recognized by the Company from the sale of water on the Lowry Range are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District. For water sales on the Lowry Range, the Rangeview District is directly selling the water and deemed the primary distributor of the water. The Rangeview District sets the price for the water sales on the Lowry Range. See further description of Export Water, the Lowry Range, and the Rangeview Water Supply in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; under &amp;#8220;Rangeview Water Supply and Water System&amp;#8221; in Part II, Item 8 of the 2019 Annual Report.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;In addition, the Company provides water for hydraulic fracturing to industrial customers in the oil and gas industry that are located in and adjacent to its service areas (referred to as &amp;#8220;O&amp;amp;G operations&amp;#8221;). O&amp;amp;G operations revenues are recognized at a point in time upon delivering water to a customer, unless other special arrangements are made.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company delivered 12.2 million and 96.9 million gallons of water to customers during the three months ended May 31, 2020 and May 31, 2019, respectively, of which 0% and 93% was used for oil and gas exploration. &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;The Company delivered 32.4 million and 232.3 million gallons of water to customers during the nine months ended &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2020&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt; and &lt;/font&gt;&lt;font style="color: #000000;"&gt;May 31, 2019&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;, respectively, of which 3% and 85% was used for oil and gas exploration.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company recognizes wastewater treatment revenues monthly based on a flat monthly fee and actual usage charges. The monthly wastewater treatment fees are shown net of amounts retained by the Rangeview District. Costs of delivering water and providing wastewater services to customers are recognized as incurred.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(ii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Water and wastewater tap fees/Special Facility funding&lt;/u&gt; &amp;#8211; The Company recognizes water and wastewater tap fees as revenue at the time the Company grants a right for the customer to tap into the water or wastewater service line to obtain service. Water tap fees recognized are based on the amounts billed by the Rangeview District and any amounts paid to third parties pursuant to the CAA as further described in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Long-Term Obligations and Operating Lease&lt;/font&gt; &amp;#8211; &lt;font style="font-style: italic;"&gt;Participating Interests&lt;/font&gt;&amp;#160;&lt;font style="font-style: italic;"&gt;in Export Water Supply&lt;/font&gt; below. The Company recognized $852,800 and $929,400 of water tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $3.2 million and $1.5 million of water tap revenues during the nine months ended May 31, 2020 and 2019, respectively. The Company recognized $152,100 and $153,800 of wastewater tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $602,900 and $256,300 of wastewater tap fee revenues during the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company recognizes construction fees, including fees received to construct &amp;#8220;Special Facilities&amp;#8221; (as defined &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;under &amp;#8220;&lt;/font&gt;&lt;font style="background-color: #FFFFFF; font-style: italic; color: #000000;"&gt;Critical Accounting Policies &amp;#8211; Revenue Recognition &amp;#8211; Wholesale Water and Wastewater Fees&lt;/font&gt;&lt;font style="background-color: #FFFFFF; color: #000000;"&gt;&amp;#8221; &lt;/font&gt;below), over time as the construction is completed because the customer is generally able to use the property improvement to enhance the value of other assets during the construction period. Special Facilities are facilities that enable water to be delivered to a single customer and are not otherwise classified as a typical wholesale facility or retail facility. Temporary infrastructure required prior to construction of permanent water and wastewater systems or transmission pipelines to transfer water from one location to another are examples of Special Facilities. Management has determined that Special Facilities are separate and distinct performance obligations because these projects are contracted to construct a specific water and wastewater system or transmission pipeline and typically do not include multiple performance obligations in a contract with a customer. No Special Facilities revenue has been recognized during the three or nine months ended May 31, 2020 or 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top;"&gt;(iii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Consulting fees&lt;/u&gt; &amp;#8211; The Company recognizes consulting fees as revenues typically on a monthly basis. The Company earns these fees from municipalities and area water providers along the I-70 corridor, for which the Company provides contract operations services over time as services are consumed. Consulting fees are recognized monthly based on a flat monthly fee plus charges for additional work performed, if applicable. The Company recognized $13,800 and $37,900 of consulting fees during the three months ended May 31, 2020 and 2019, respectively, and $104,000 and $148,200 of consulting fees during the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="font-style: italic; font-weight: bold;"&gt;Land Development Activities&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company generates revenues through the sale of finished lots at its Sky Ranch development primarily from four sources of revenues, which are described in detail below:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(i)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Sale of finished lots&lt;/u&gt; &amp;#8211; The Company acquired approximately 930 acres of land zoned as a Master Planned Community known as Sky Ranch along the I-70 corridor east of Denver, Colorado. The Company has entered into purchase and sale agreements with three separate home builders pursuant to which the Company agreed to sell, and each builder agreed to purchase, residential lots at Sky Ranch. The Company began construction of lots in March 2018 and segments its reporting of the activity relating to the costs and revenues from the construction and sale of lots at Sky Ranch.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company sells lots at Sky Ranch pursuant to distinct agreements with each home builder. These agreements follow one of two formats. One format is the sale of a finished lot, whereby the purchaser pays for a ready-to-build finished lot and the sales price is paid in a lump-sum upon completion of the finished lot that is permit ready. The Company recognizes revenues at the point in time of the closing of the sale of a finished lot in which control transfers to the builder as the transaction cycle is complete and the Company has no further obligations for the lot. During the three months ended May 31, 2020, the Company received no payments and recognized no revenue from its agreement for the sale of ready-to-build finished lots. During the nine months ended May 31, 2020, the Company received payment and recognized revenue of $2,836,700 from one home builder in exchange for the delivery of 41 finished lots. &lt;font style="background-color: #FFFFFF; color: #000000;"&gt;During the three months ended May 31, 2019, the Company received payment and recognized revenue of $1,770,000 from one home builder in exchange for the delivery of 25 finished lots. During the nine months ended May 31, 2019, the Company received payment and recognized revenue of $2,070,000 from one home builder in exchange for the delivery of 29 finished lots.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The second format is the sale of finished lots pursuant to a lot development agreement with builders, whereby the Company receives payments in stages that include (i) payment upon the delivery of platted lots (which requires the Company to deliver deeded title to individual lots), (ii) a second payment upon the completion of certain infrastructure milestones, and (iii) final payment upon the delivery of the finished lot. Ownership and control of the platted lots pass to the builders once the Company closes the sale of the platted lots. Because the builder (i.e., the customer) takes control of the lot at the first closing and subsequent improvements made by the Company improve the builder&amp;#8217;s lot as construction progresses, the Company accounts for revenue over time with progress measured based upon costs incurred to date compared to total expected costs.&amp;#160; Any revenue in excess of amounts entitled to be billed is reflected on the balance sheet as a contract asset, and amounts received in excess of revenue recognized are recorded as deferred revenue. As of May 31, 2020, the Company had received cumulative payments of approximately $21 million under development agreements relating to the sale of 293 lots from two home builders, of which approximately $18.6 million of revenue was recognized over time based on the costs incurred to date compared to total expected costs for full completion of the 293 lots. During the three months ended May 31, 2020 and 2019, the Company recognized $696,200 and $938,100 of lot sales over time, respectively. For the nine months ended May 31, 2020 and 2019, the Company recognized $8,666,800 and $3,965,700 of lot sales over time, respectively. The Company had deferred revenue related to lot sales of $2,526,200 as of May 31, 2020. The Company does not have any material significant payment terms as all payments are expected to be received within 12 months after the delivery of each platted lot. The Company adopted the practical expedient for financing components and does not need to account for a financing component of these lot sales as the delivery of lot sales is expected to occur within one year or less.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top; align: right;"&gt;(ii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Reimbursable Costs for Public Improvements&lt;/u&gt; &amp;#8211; The CAB is required to construct certain public improvements, such as water distribution systems, sewer collection systems, storm water systems, drainage improvements, roads, curbs, sidewalks, landscaping and parks, the costs of which may qualify as reimbursable costs. Pursuant to its agreements with the CAB (see Note 6 &amp;#8211; &lt;font style="font-style: italic;"&gt;Related Party Transactions&lt;/font&gt;), the Company is obligated to finance this infrastructure. These public improvements are constructed pursuant to design standards specified by the Sky Ranch Districts and/or the CAB, and, after inspection and acceptance, are turned over to the applicable governmental entity to operate and maintain. As these public improvements are owned and operated on behalf of a governmental entity, they may qualify for reimbursement.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;Pursuant to the agreements with the CAB, the CAB is not required to make payments to the Company for any advances made by the Company or expenses incurred related to construction of public improvements unless and until the CAB and/or the Sky Ranch Districts issue bonds in an amount sufficient to reimburse the Company for all or a portion of the advances made and expenses incurred. Because the timing of the issuance and approval of any bonds is subject to considerable uncertainty, any potential reimbursable costs for the construction of public improvements, including construction support activities and project management fees, are initially capitalized in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories. &lt;/font&gt;If the bonds have not been approved and issued prior to the sale of the lots serviced by the public improvements, the costs are expensed through &lt;font style="font-style: italic;"&gt;Land development construction costs&lt;/font&gt; when the lots are sold consistent with other construction related costs. If bonds ultimately are issued, upon receipt of reimbursements by the Company, the Company records the reimbursements received as &lt;font style="font-style: italic;"&gt;Other income &lt;/font&gt;to the extent that costs have previously been expensed and reduces &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; by any remaining reimbursables received. The Company submits specific costs for reimbursement to the CAB.&lt;font style="font-style: italic;"&gt;&amp;#160;&lt;/font&gt;If reimbursable costs received exceed actual expenses incurred by the Company for the cost of the public improvements, they are recorded as &lt;font style="font-style: italic;"&gt;other income &lt;/font&gt;as received.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;All amounts owed under the &amp;#8220;2018 FFAA&amp;#8221; (as defined in Note 6 &amp;#8211; &lt;font style="font-style: italic;"&gt;Related Party Transactions&lt;/font&gt;) bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest income is not recognized on the amounts owed by the CAB until the bonds are issued. To date, the Company has deferred the recognition of $1,052,900 of interest income on advances made to the CAB.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;On November 19, 2019, the CAB sold tax-exempt, fixed rate senior bonds in the aggregate principal amount of $11,435,000 and tax-exempt, fixed-rate subordinate bonds in the aggregate principal amount of $1,765,000 (collectively, the &amp;#8220;Bonds&amp;#8221;). Upon the issuance of the Bonds, the Company received $10.5 million as partial reimbursement for advances the Company made to the CAB pursuant to the 2018 FFAA to fund the construction of public improvements to the Sky Ranch property. Of the $10.5 million received by the Company, $6.3 million was recognized as &lt;font style="font-style: italic;"&gt;Income from reimbursement of construction costs (related party)&lt;/font&gt; in other income and the remaining $4.2 million partially reduced the remaining capitalized costs in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt;. As a result of the reimbursed costs, the margin from land development revenues is expected to increase to approximately 27%.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"&gt;&lt;tr&gt;&lt;td style="width: 18pt;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td style="width: 18pt; vertical-align: top;"&gt;(iii)&lt;/td&gt;&lt;td style="width: auto; vertical-align: top; text-align: justify;"&gt;&lt;div&gt;&lt;u&gt;Project management services&lt;/u&gt; &amp;#8211; On May 2, 2018, the Company entered into two Service Agreements for Project Management Services (the &amp;#8220;Project Management Agreements&amp;#8221;) with the CAB. Pursuant to the Project Management Agreements, the Company acts as the project manager and provides any and all services required to deliver the CAB-eligible improvements, including but not limited to CAB compliance; planning design and approvals; project administration; contractor agreements; and construction management and administration. The Company must submit to the CAB a monthly invoice, in a form acceptable to the CAB, detailing all project management activities during the period. The Company is responsible for all expenses it incurs in the performance of the Project Management Agreements and is not entitled to any reimbursement or compensation except as set forth in the Project Management Agreements, unless otherwise approved in advance by the CAB in writing. The CAB is subject to annual budget and appropriation procedures and does not intend to create a multiple-fiscal year direct or indirect debt or other financial obligation. The Company receives a project management fee of five percent (5%) of actual construction costs of CAB-eligible improvements. The project management fee qualifies as a reimbursable cost to the Company. The project management fee is based only on the actual costs of the improvements; thus, items such as fees, permits, review fees, consultant or other soft costs, and land acquisition or any other costs that are not directly related to the cost of construction of CAB-eligible improvements are not included in the calculation of the project management fee. Soft costs and other costs that are not directly related to the construction of CAB-eligible improvements are included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; and accounted for in the same manner as construction support activities as described below. Per the Project Management Agreements, no payment is required by the CAB with respect to project management fees unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables. Due to this contingency, the project management fees are being accrued to revenue with a corresponding allowance until the point in time when bonds are issued by the Sky Ranch Districts and/or the CAB and the CAB reimburses the Company for the public improvements. At that point, the portion of the project management fees repaid will be recognized as revenue. To date, the Company has accrued $1,371,600&lt;font style="font-weight: bold;"&gt;&amp;#160;&lt;/font&gt;in project management services to the CAB.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 18pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="vertical-align: top; width: 18pt;"&gt;&lt;div style="text-align: justify;"&gt;(iv)&lt;/div&gt;&lt;/td&gt;&lt;td style="align: left; vertical-align: top; width: auto;"&gt;&lt;div style="text-align: justify;"&gt;&lt;u&gt;Construction support activities&lt;/u&gt; &amp;#8211; The Company performs certain construction activities at Sky Ranch. The activities performed include construction and maintenance of the grading erosion and sediment control best management practices and other construction-related services. These activities are invoiced upon completion and are included in &lt;font style="font-style: italic;"&gt;Land development&lt;/font&gt; i&lt;font style="font-style: italic;"&gt;nventories&lt;/font&gt; and subsequently expensed through &lt;font style="font-style: italic;"&gt;Land development construction costs&lt;/font&gt; unless or until bonds are issued by the Sky Ranch Districts (as defined in Note 6 &amp;#8211; &lt;font style="font-style: italic;"&gt;Related Party Transactions&lt;/font&gt;) and/or the CAB and the CAB reimburses the Company for public improvements. Refer to section (ii) &lt;font style="font-style: italic;"&gt;Reimbursable Costs for Public Improvements&lt;/font&gt; for details on repayment of reimbursable costs. To date, the Company has invoiced the CAB $581,100 for construction support activities, which amount is included in &lt;font style="font-style: italic;"&gt;Land development inventories&lt;/font&gt;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;Unpaid reimbursable costs the Company believes are recoverable from the CAB pursuant to the 2018 FFAA, are recorded to a Note Receivable from the CAB. Each reporting period, the Company performs an analysis on the collectability of the receivable from the CAB and the recoverability of the outstanding reimbursable costs to determine if the amounts should be expensed. The following table summarizes all reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;As of May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Costs incurred to date&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Payments repaid by&lt;/div&gt;&lt;div&gt;CAB&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Net costs incurred to date&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Public Improvements&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;25,431,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;10,505,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;14,926,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Accrued interest&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,052,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,052,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Project management services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,371,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,371,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Construction support activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;581,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;581,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Total reimbursable costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;28,437,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;10,505,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;17,932,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; margin-left: 36pt;"&gt;The Company expects to incur an additional $3.5 million through the end of the calendar year 2020 for construction costs related to public improvements to complete its initial 506 lots and expects to be reimbursed an additional $21.6 million. Pursuant to the Company's agreements with the CAB, no payment is required by the CAB with respect to reimbursable costs unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company evaluated disaggregation of revenue and has determined that no additional disaggregation of revenue is necessary.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Contract asset by segment is as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company did not have a contract asset at May 31, 2020 and 2019 or August 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Changes in contract asset were as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, beginning of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Recognition of land development revenue contract asset&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,020,146&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Land development contract asset invoiced&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(1,020,146&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Deferred revenue by segment is as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,526,155&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;3,991,535&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Oil and gas leases and water sales payment&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;2,467,649&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;1,067,348&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;4,993,804&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The current portion of deferred revenue for oil and gas leases and water sales payment as of May 31, 2020 and August 31, 2019,&amp;#160; is $2,254,830 and $706,464, respectively. There were no water segment deferred revenues as of May 31, 2019 and August 31, 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Changes in deferred revenue were as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, beginning of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;477,161&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Deferral of revenue&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;15,949,872&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;24,998,964&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Recognition of unearned revenue&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(16,014,951&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;(20,417,242&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance, end of period&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;4,993,804&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;5,058,883&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The recognition of unearned revenue was $11,503,523 and $11,955,989 from land development activities and $4,511,428 and $8,461,253 from oil and gas leases and water sales payments for the nine months ended May 31, 2020 and August 31, 2019, respectively.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (&amp;#8220;contracted not recognized revenue&amp;#8221;), which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. At May 31, 2020, the Company had outstanding open contracts for $12,957,000, which primarily relate to the 115 lots of the initial 506 lots at Sky Ranch that remain unsold. The Company expects to recognize approximately 98% of such revenue over the next 12 months.&lt;/div&gt;&lt;/div&gt;</us-gaap:RevenueFromContractWithCustomerPolicyTextBlock>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage - Oil and Gas [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_039423d89122426db2230655978a3f73" contextRef="c20200301to20200531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember" unitRef="U002" decimals="0">15000</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_17dedc4416254f5495c8abf526be7618" contextRef="c20190301to20190531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U002" decimals="0">39567</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage - Oil and Gas [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_2000c5fb90f34c319d9da9f741573f0b" contextRef="c20190901to20200531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember" unitRef="U002" decimals="0">71944</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water and Wastewater Tap Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_1c8a865a89b341608b8d4f82c4df03b3" contextRef="c20200301to20200531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember" unitRef="U002" decimals="0">1004905</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage - Oil and Gas [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_3ac03a6ce18a4bcb838bb252d76d21c3" contextRef="c20180901to20190531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember" unitRef="U002" decimals="0">2717717</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Treatment Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_44e326c5b4834a399afa4fc778a0b4b2" contextRef="c20190901to20200531_ProductOrServiceAxis_WastewaterTreatmentFeesMember" unitRef="U002" decimals="0">62377</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage - Oil and Gas [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_4a943601cfba41899f9ea8c116ac81fb" contextRef="c20190301to20190531_ProductOrServiceAxis_MeteredWaterUsageOilAndGasMember" unitRef="U002" decimals="0">1308454</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_4e90fe7516aa4bc59b1e2853742ee482" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesMember" unitRef="U002" decimals="0">11503523</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Service, Other [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_540a7c60f7f34d3ea816a2da140041d4" contextRef="c20190901to20200531_ProductOrServiceAxis_ServiceOtherMember" unitRef="U002" decimals="0">104056</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_54bdc93dfaa54d5fb8d5067f3829b247" contextRef="c20190301to20190531" unitRef="U002" decimals="0">5184663</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_5b5125fc812645adbcf503fc5886d568" contextRef="c20180901to20190531_ProductOrServiceAxis_LotSalesMember" unitRef="U002" decimals="0">6035670</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_5f4a74e4e02249b390ca85ac6bfa637a" contextRef="c20200301to20200531_ProductOrServiceAxis_LotSalesMember" unitRef="U002" decimals="0">696170</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_5fdb285e7e534571ac2f8eb8f97b6040" contextRef="c20200301to20200531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U002" decimals="0">97747</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_856ae241596c48619dea9e88970fe03e" contextRef="c20200301to20200531" unitRef="U002" decimals="0">1850121</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_9aef2b6181aa400a8d4bc0cbead88248" contextRef="c20190901to20200531" unitRef="U002" decimals="0">15829730</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_a19c3ce806ac4a109a4dbb0bfc2f6a7d" contextRef="c20180901to20190531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U002" decimals="0">157173</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Service, Other [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_a38bb84afed04314901510b37bebd41b" contextRef="c20180901to20190531_ProductOrServiceAxis_ServiceOtherMember" unitRef="U002" decimals="0">148159</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Metered Water Usage [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_b1ec60b19d314c9c8e7bbaff5df400aa" contextRef="c20190901to20200531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U002" decimals="0">237952</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water and Wastewater Tap Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_633eda1587384b4d80216b17fcf48a91" contextRef="c20190301to20190531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember" unitRef="U002" decimals="0">1083189</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water and Wastewater Tap Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_cd35bd5c8568448695745320e5a774f3" contextRef="c20180901to20190531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember" unitRef="U002" decimals="0">1805091</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water and Wastewater Tap Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_e7416d2240064737a9221923c95dab8d" contextRef="c20190901to20200531_ProductOrServiceAxis_WaterAndWastewaterTapFeesMember" unitRef="U002" decimals="0">3849878</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_d0e86a734cba4625b758f1ce8ddb5b85" contextRef="c20180901to20190531" unitRef="U002" decimals="0">10887631</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Treatment Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_d1542863fa9e43a0b1124e47918b9ee0" contextRef="c20180901to20190531_ProductOrServiceAxis_WastewaterTreatmentFeesMember" unitRef="U002" decimals="0">23821</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Service, Other [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_d5479ad915744640bd4f8461fdf85f0a" contextRef="c20200301to20200531_ProductOrServiceAxis_ServiceOtherMember" unitRef="U002" decimals="0">13810</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Service, Other [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_d54b0c01ebb641f596928bc0f8a0a481" contextRef="c20190301to20190531_ProductOrServiceAxis_ServiceOtherMember" unitRef="U002" decimals="0">37941</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Treatment Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_d7131824fe3840cb9cc0839a199c6c85" contextRef="c20200301to20200531_ProductOrServiceAxis_WastewaterTreatmentFeesMember" unitRef="U002" decimals="0">22489</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Treatment Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_fd04314b23564f9096710a4cc1bcba95" contextRef="c20190301to20190531_ProductOrServiceAxis_WastewaterTreatmentFeesMember" unitRef="U002" decimals="0">7419</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_ff8a556978544a909b87920cf305e82d" contextRef="c20190301to20190531_ProductOrServiceAxis_LotSalesMember" unitRef="U002" decimals="0">2708093</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_19217a9a1f7e467187b2c87794c7b736" contextRef="c20190901to20200531_ProductOrServiceAxis_WastewaterTapFeeMember" unitRef="U002" decimals="0">602900</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_1dabd75854c44b099491550f2abc0aa1" contextRef="c20180901to20190531_ProductOrServiceAxis_WastewaterTapFeeMember" unitRef="U002" decimals="0">256300</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales First Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_2baf76d9b71d43f39d890d02fda4e2b1" contextRef="c20200301to20200531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U002" decimals="0">0</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water Tap Fees Recognized excluding Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_2cc76bcaeba64242a676ce6696cab88e" contextRef="c20180901to20190531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" unitRef="U002" decimals="-5">1500000</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water Tap Fees Recognized excluding Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_469027f7186e4bba806a6ad271225a28" contextRef="c20190301to20190531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" unitRef="U002" decimals="0">929400</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales First Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_711e5cac7cfe46718dacd305ec6e0f7f" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U002" decimals="0">2836700</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales Second Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_7365891d42fc4933a18a8e4a40303c15" contextRef="c20190301to20190531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U002" decimals="0">938100</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Consulting Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_8c5eb31634804aa1b999c58251e0610b" contextRef="c20190901to20200531_ProductOrServiceAxis_ConsultingFeesMember" unitRef="U002" decimals="0">104000</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales First Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_94a679f479134d5ca67635e8a215640d" contextRef="c20180901to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U002" decimals="0">2070000</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Special Facility Funding Recognized [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_9622619cb0f3422a95bc34e372b130ec" contextRef="c20180901to20190531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember" unitRef="U002" decimals="0">0</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Consulting Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_9b7136daa1a247fd84de6febb818a70b" contextRef="c20190301to20190531_ProductOrServiceAxis_ConsultingFeesMember" unitRef="U002" decimals="0">37900</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Consulting Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_b3a164720edc4ead8c26fd541b8d5247" contextRef="c20180901to20190531_ProductOrServiceAxis_ConsultingFeesMember" unitRef="U002" decimals="0">148200</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water Tap Fees Recognized excluding Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_b9a1bf75eb5446c798d03aa27d591080" contextRef="c20190901to20200531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" unitRef="U002" decimals="-5">3200000</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales Second Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_be43f5cf82af4c78b726a6486900c0b1" contextRef="c20180901to20190531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U002" decimals="0">3965700</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales Second Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_bf478c8181b94eeb8e6cd600a8e4c376" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U002" decimals="0">8666800</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Water Tap Fees Recognized excluding Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_d1a742693a544350a36d4e87d00557f1" contextRef="c20200301to20200531_ProductOrServiceAxis_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" unitRef="U002" decimals="0">852800</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Consulting Fees [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_d5ac6583532746e7abe14e15d3b92cdb" contextRef="c20200301to20200531_ProductOrServiceAxis_ConsultingFeesMember" unitRef="U002" decimals="0">13800</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Special Facility Funding Recognized [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_df45d21ebca443e19fa9917b0a093c57" contextRef="c20200301to20200531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember" unitRef="U002" decimals="0">0</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Special Facility Funding Recognized [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_e08b721284634f008fa57b8938bdf512" contextRef="c20190901to20200531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember" unitRef="U002" decimals="0">0</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales First Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_e16164f007cb4a55ac64068e2bc7e9a3" contextRef="c20190301to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U002" decimals="0">1770000</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_e9be51c9a7fd4df085b0072607dc55b5" contextRef="c20200301to20200531_ProductOrServiceAxis_WastewaterTapFeeMember" unitRef="U002" decimals="0">152100</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Special Facility Funding Recognized [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_eefbe285e557408eb2c2a88908242277" contextRef="c20190301to20190531_ProductOrServiceAxis_SpecialFacilityFundingRecognizedMember" unitRef="U002" decimals="0">0</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Lot Sales Second Format [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_f5a5d1a848e240639a3c656bc8ae74c0" contextRef="c20200301to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U002" decimals="0">696200</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wastewater Tap Fee [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_fd9f8a75877d43049ff646e35980c605" contextRef="c20190301to20190531_ProductOrServiceAxis_WastewaterTapFeeMember" unitRef="U002" decimals="0">153800</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_089592810cc2489f9d1cad78ce666e77" contextRef="c20190301to20190531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">2476570</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Land Development Activities [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_452bcaba2ae348d8bdbb3b3f58603bf7" contextRef="c20190901to20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">11503523</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Land Development Activities [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_64eb9e1c389e41bc8ad786de6f22423c" contextRef="c20190301to20190531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">2708093</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Land Development Activities [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_8a1ace7275e545d09c1cc582a503a7de" contextRef="c20200301to20200531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">696170</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_a7af3cea38f547f387921db5a709c1ae" contextRef="c20200301to20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">1153951</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_ac4b692f94c04104b7abeaaceb98c613" contextRef="c20180901to20190531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">4851961</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Land Development Activities [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_c68116da6eec4308a516bee2e7593f66" contextRef="c20180901to20190531_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U002" decimals="0">6035670</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Revenue from Contract with Customer, Excluding Assessed Tax-Wholesale Water and Wastewater Services [Member]-->
  <us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax id="Fact_f782c19c4cdb476c9c1370745a6ba795" contextRef="c20190901to20200531_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U002" decimals="0">4326207</us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
  <!--Remaining performance obligation-Sky Ranch [Member]-->
  <us-gaap:RevenueRemainingPerformanceObligation id="Fact_cff9b4c4f8ab41ba8c8010e5b5307617" contextRef="c20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U002" decimals="0">12957000</us-gaap:RevenueRemainingPerformanceObligation>
  <!--Oil and gas royalty income, net-->
  <us-gaap:RoyaltyIncomeNonoperating id="Fact_0ac2cacfe8a2471592dd05caff23d302" contextRef="c20190901to20200531" unitRef="U002" decimals="0">612744</us-gaap:RoyaltyIncomeNonoperating>
  <!--Oil and gas royalty income, net-->
  <us-gaap:RoyaltyIncomeNonoperating id="Fact_2706ae5bdf3e44699fdc9feb88a6b254" contextRef="c20180901to20190531" unitRef="U002" decimals="0">113104</us-gaap:RoyaltyIncomeNonoperating>
  <!--Oil and gas royalty income, net-->
  <us-gaap:RoyaltyIncomeNonoperating id="Fact_3d11b002209544158ecb50d6749a82df" contextRef="c20200301to20200531" unitRef="U002" decimals="0">74130</us-gaap:RoyaltyIncomeNonoperating>
  <!--Oil and gas royalty income, net-->
  <us-gaap:RoyaltyIncomeNonoperating id="Fact_b5f858062ff74912b15939940099fa9a" contextRef="c20190301to20190531" unitRef="U002" decimals="0">37263</us-gaap:RoyaltyIncomeNonoperating>
  <!--Sublease Income-->
  <us-gaap:SubleaseIncome id="Fact_8bd9ab43ad9f49858023b06512149b4a" contextRef="c20200301to20200531" unitRef="U002" decimals="0">0</us-gaap:SubleaseIncome>
  <!--Sublease Income-->
  <us-gaap:SubleaseIncome id="Fact_b56d7305d6d24991b2f813c281e12429" contextRef="c20190901to20200531" unitRef="U002" decimals="0">0</us-gaap:SubleaseIncome>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares id="Fact_56f297a22ccf43898aa573bb156ea4d8" contextRef="c20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">152500</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares id="Fact_dc76f2fc7c7045e6a6b69994af79f9eb" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">180000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares>
  <!--Vested (in dollars per share)-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue id="Fact_973140d9f2564c4fa62b01122fe8f797" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">3.75</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares id="Fact_33fd77cf048a4ebba0497f26d17ab677" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">102500</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares>
  <!--Weighted average remaining contractual term, options exercisable-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 id="Fact_f4e602bd90d74226ac9508f8533047c0" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">P5Y5M1D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
  <!--Expiration period-Senior Management [Member]-Incentive Plan 2004 and Equity Plan 2014 [Member]-Maximum [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod id="Fact_5f598e6ee4de4fb7acc25e5fcfb96c61" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_RangeAxis_MaximumMember_TitleOfIndividualAxis_SeniorManagementMember">P10Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
  <!--Expiration period-Maximum [Member]-Incentive Plan 2004 and Equity Plan 2014 [Member]-Employee [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod id="Fact_6032f45552864decb54dda654d296621" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_RangeAxis_MaximumMember_TitleOfIndividualAxis_EmployeeMember">P10Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue id="Fact_3283dcf993554574a6545afc2d99275a" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="0">0</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1 id="Fact_3ade4e4c12dc4ed3a16ae89f529ac2c8" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">P2Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue id="Fact_988bdfa527784c1d8587432e36230d16" contextRef="c20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">4.03</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue id="Fact_385ab26f353c4cdaa75f48cc0d02b83d" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">4.31</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 id="Fact_7761095b98104c9d899faa37ad9fa0c6" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">2023755</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares id="Fact_a11957c6816942f58505f3891b12f246" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">0</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 id="Fact_f93af2add93b48de9438850e8f5f3441" contextRef="c20180901to20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">P6Y3M7D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 id="Fact_fe550ee354eb491e88fe17ae9899ad40" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member">P6Y4M13D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
  <!--Non-Vested Options-->
  <us-gaap:ScheduleOfNonvestedShareActivityTableTextBlock id="Fact_ea86d8ae520e44a59186657f47a76155" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as of and for the nine months ended May 31, 2020:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Number&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;of Options&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Weighted Average&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Grant Date&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Non-vested options outstanding at August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;152,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4.03&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Granted&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;130,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;4.19&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Vested&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(102,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;3.75&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Forfeited&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Non-vested options outstanding at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;180,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;4.31&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfNonvestedShareActivityTableTextBlock>
  <!--Stock Option Activity-->
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock id="Fact_9f9fe2e0db3b4d14a0442a3fee4909ac" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2020:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Number&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;of Options&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Weighted Average&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Exercise Price&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Weighted Average&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Remaining&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Contractual Term&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Approximate&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Aggregate&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Intrinsic Value&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Outstanding at August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;555,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;6.33&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;6.27&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,527,590&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Granted&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;130,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;10.41&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Exercised&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(15,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2.67&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Forfeited or expired&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Outstanding at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;670,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;7.20&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;6.37&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;2,066,420&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Options exercisable at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;490,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;6.07&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;5.42&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;2,023,755&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <!--Deferred Tax Assets-->
  <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock id="Fact_8e72962a175349b29e0227736e2fd544" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div&gt;Significant components of the Company&amp;#8217;s deferred tax assets as of May 31, 2020 and August 31, 2019 are as follows:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;For the Periods Ended:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Deferred tax assets (liabilities):&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Net operating loss carryforwards&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;609,439&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Accrued compensation&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;113,559&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Deferred revenues&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;104,219&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;149,895&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Depreciation and depletion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(26,120&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(46,408&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Non-qualified stock options&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;449,639&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;410,633&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Other&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;45,452&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;46,128&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 18pt;"&gt;Net deferred tax asset&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;573,190&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,283,246&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
  <!--Remaining Third Party Obligation-->
  <us-gaap:ScheduleOfDebtTableTextBlock id="Fact_2662c1cb62d4437285da7fe8ecd5ce98" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div&gt;As a result of the acquisitions and consideration from cumulative sales of Export Water as detailed in the table below, the remaining potential third-party obligation at May 31, 2020, is less than $1.0 million.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Export&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Water&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Proceeds&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Received&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Initial Export&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Water&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Proceeds to&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Pure Cycle&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Total&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Potential&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Third-Party&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Obligation&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Participating&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Interests&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Liability&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Contingency&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Original balances&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;218,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;31,807,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;11,090,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;20,717,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;"&gt;Activity from inception until August 31, 2019:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Acquisitions&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;28,042,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(28,042,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(9,790,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(18,252,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Relinquishment&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;2,386,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(2,386,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(832,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(1,554,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Option payments - Sky Ranch and The Hills at Sky Ranch&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;110,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(42,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(68,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(23,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(44,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Arapahoe County tap fees&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;533,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(373,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(159,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(55,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(104,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Export Water sale payments&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;903,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(740,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(163,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(56,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(106,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance at August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,547,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;29,491,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;987,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;332,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;655,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;"&gt;Activity for the nine months ended May 31, 2020:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Export Water sale payments&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;101,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(89,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(12,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(4,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(7,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,648,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;29,402,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;975,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;328,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;647,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfDebtTableTextBlock>
  <!--Schedule of Segment Reporting Information, by Segment [Table Text Block]-->
  <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock id="Fact_c1bbe8726e994be3991b4905281da79b" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes wholesale water and wastewater services and land development revenue information by segment:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="5" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Three Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Nine Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Wholesale water and wastewater services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,153,951&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,476,570&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4,326,207&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4,851,961&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;696,170&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;2,708,093&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;11,503,523&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;6,035,670&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Total revenues&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,850,121&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;5,184,663&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;15,829,730&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;10,887,631&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes wholesale water and wastewater services and land development pretax income by segment:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Three Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Nine Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Wholesale water and wastewater services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;603,158&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,802,340&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,621,356&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;3,222,922&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;140,390&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;120,021&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;7,342,810&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;319,676&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Corporate&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(707,273&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(660,990&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,925,548&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,743,280&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Total pretax income (loss)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;36,275&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;1,261,371&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;8,038,618&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;1,799,318&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes total assets by segment.&amp;#160; The assets consist of water rights and water and wastewater systems in the Company&amp;#8217;s wholesale water and wastewater services segment. The assets consist of land, land development inventories and deposits in the Company&amp;#8217;s land development segment.&amp;#160; The Company&amp;#8217;s other assets primarily consist of cash and cash equivalents, equipment, mineral rights, related party notes receivables and a deferred tax asset.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Wholesale water and wastewater services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;56,244,054&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;51,588,079&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;9,498,852&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;16,866,542&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Corporate&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;22,466,167&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;15,266,783&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Total assets&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;88,209,073&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;83,721,404&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
  <!--SEGMENT INFORMATION-->
  <us-gaap:SegmentReportingDisclosureTextBlock id="Fact_7604ecaf224140998525a8aee3524ae5" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 10 &amp;#8211; SEGMENT INFORMATION&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (the &amp;#8220;CODM&amp;#8221;), or decision-making group, to evaluate performance and make operating decisions. The Company has identified its CODM as its Chief Executive Officer.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;During the year 2018, the Company began construction of residential lots at Sky Ranch, which the Company has identified as a segment. Currently, the Company operates its wholesale water and wastewater services and land development activities at Sky Ranch as the Company's two operating segments.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The wholesale water and wastewater services business includes providing water service to customers, which water is provided by the Company using water rights owned or controlled by the Company, and developing infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As part of the Company&amp;#8217;s land development activities at Sky Ranch, the Company entered into contracts for the sale of residential lots (see Note 2 &amp;#8211; &lt;font style="font-style: italic;"&gt;Summary of Significant Accounting Policies &lt;/font&gt;in Part II, Item 8 of the 2019 Annual Report). The Company identified land development and lot sales as a separate segment beginning in the fiscal year 2018.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Oil and gas royalties and licenses are a passive activity (i.e. the Company&amp;#8217;s CODM does not evaluate the performance of, or allocate resources specifically to, the oil and gas operations) and not an operating business activity and, therefore, are not classified as a segment.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes wholesale water and wastewater services and land development revenue information by segment:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="5" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Three Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Nine Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&lt;br /&gt;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Wholesale water and wastewater services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,153,951&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,476,570&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4,326,207&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;4,851,961&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;696,170&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;2,708,093&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;11,503,523&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;6,035,670&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Total revenues&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,850,121&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;5,184,663&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;15,829,730&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;10,887,631&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes wholesale water and wastewater services and land development pretax income by segment:&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Three Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Nine Months Ended&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Wholesale water and wastewater services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;603,158&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,802,340&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2,621,356&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;3,222,922&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;140,390&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;120,021&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;7,342,810&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;319,676&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Corporate&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(707,273&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(660,990&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,925,548&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(1,743,280&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Total pretax income (loss)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;36,275&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;1,261,371&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;8,038,618&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;1,799,318&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following table summarizes total assets by segment.&amp;#160; The assets consist of water rights and water and wastewater systems in the Company&amp;#8217;s wholesale water and wastewater services segment. The assets consist of land, land development inventories and deposits in the Company&amp;#8217;s land development segment.&amp;#160; The Company&amp;#8217;s other assets primarily consist of cash and cash equivalents, equipment, mineral rights, related party notes receivables and a deferred tax asset.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Wholesale water and wastewater services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;56,244,054&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;51,588,079&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Land development activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;9,498,852&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;16,866,542&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Corporate&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;22,466,167&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;15,266,783&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -9pt; margin-left: 9pt;"&gt;Total assets&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;88,209,073&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"&gt;&lt;div&gt;83,721,404&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
  <!--Exercised (in dollars per share)-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice id="Fact_38d27f7832d941228ca271d751e8516d" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">2.67</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <!--Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice id="Fact_330557a7c3f546cdac89d39729add2d1" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">10.41</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <!--Share-based compensation expense-->
  <us-gaap:ShareBasedCompensation id="Fact_079168ad9b4441beabd17c3edcac9868" contextRef="c20190901to20200531" unitRef="U002" decimals="0">435109</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-->
  <us-gaap:ShareBasedCompensation id="Fact_f4b43fb5463249fea53bcbf061b38398" contextRef="c20180901to20190531" unitRef="U002" decimals="0">257813</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-->
  <us-gaap:ShareBasedCompensation id="Fact_49e8aea6cd9249e6b07376e1e6051393" contextRef="c20190301to20190531" unitRef="U002" decimals="0">96100</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-->
  <us-gaap:ShareBasedCompensation id="Fact_4dae722ed7944f9b8830c0d99d3d11d5" contextRef="c20200301to20200531" unitRef="U002" decimals="0">81900</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Non Employee [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_769235bd639444dfb48973ac698f008c" contextRef="c20190901to20200531_TitleOfIndividualAxis_NonEmployeeMember" unitRef="U002" decimals="0">149400</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Non Employee [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_a6265b1323764abda1f823851eb8fece" contextRef="c20200301to20200531_TitleOfIndividualAxis_NonEmployeeMember" unitRef="U002" decimals="0">0</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Non Employee [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_aa25977589814e55a20201915a587ed0" contextRef="c20190301to20190531_TitleOfIndividualAxis_NonEmployeeMember" unitRef="U002" decimals="0">0</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Non Employee [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_d82cd942d6534b04b35a49e27cf928ba" contextRef="c20180901to20190531_TitleOfIndividualAxis_NonEmployeeMember" unitRef="U002" decimals="0">0</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_1b7300e2ba2a4797b7d4ac6dc45848ff" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">435100</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_aba82548998e46c090a475b8fb376606" contextRef="c20200301to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">81900</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_c3c970132e4c431d9864f89b2d83ff81" contextRef="c20190301to20190531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">96100</us-gaap:ShareBasedCompensation>
  <!--Share-based compensation expense-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensation id="Fact_d6185ea27df64540a105e250d0485460" contextRef="c20180901to20190531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">257800</us-gaap:ShareBasedCompensation>
  <!--Share Price-Non Employee [Member]-->
  <us-gaap:SharePrice id="Fact_8d91f325de81485cbf59a15c639173b1" contextRef="c20200115_TitleOfIndividualAxis_NonEmployeeMember" unitRef="U003" decimals="2">12.45</us-gaap:SharePrice>
  <!--Granted (in shares)-Incentive Plan 2004 and Equity Plan 2014 [Member]-Senior Management [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="Fact_1a7193030f434c3e927605a2558a5efa" contextRef="c20190927to20190927_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_SeniorManagementMember" unitRef="U001" decimals="INF">50000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <!--Granted (in shares)-Incentive Plan 2004 and Equity Plan 2014 [Member]-Employee [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="Fact_265233b63b794a88a65e0e400b185682" contextRef="c20190925to20190925_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_EmployeeMember" unitRef="U001" decimals="INF">80000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <!--Granted (in shares)-Non Employee [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="Fact_2e063c67242d4240a5280ae4744a7bb7" contextRef="c20200115to20200115_TitleOfIndividualAxis_NonEmployeeMember" unitRef="U001" decimals="INF">2000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <!--Granted (in shares)-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="Fact_6bddbf3356c34040ae1575562f0d3259" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">130000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <!--Vesting period-Incentive Plan 2004 and Equity Plan 2014 [Member]-Senior Management [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 id="Fact_ce0be6269b644556869fdf846ddddf52" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_SeniorManagementMember">P3Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
  <!--Vesting period-Employee [Member]-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 id="Fact_e51ae3cb2d0843b8bcdba74491ab25de" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_EmployeeMember">P3Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
  <!--Weighted average grant-date fair value (in dollars per share)-Incentive Plan 2004 and Equity Plan 2014 [Member]-Employee [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="Fact_4137477e51e34f90977252ae3769396e" contextRef="c20190925to20190925_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_EmployeeMember" unitRef="U003" decimals="2">4.21</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <!--Weighted average grant-date fair value (in dollars per share)-Incentive Plan 2004 and Equity Plan 2014 [Member]-Senior Management [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="Fact_594c10758ca747d19379f84feb614c78" contextRef="c20190927to20190927_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member_TitleOfIndividualAxis_SeniorManagementMember" unitRef="U003" decimals="2">4.16</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <!--Weighted average grant-date fair value (in dollars per share)-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="Fact_a83fc30516594badac2d767404b15af0" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">4.19</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized-Equity Incentive Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized id="Fact_3453bdb0ed664357b465aab648d15be0" contextRef="c20200531_PlanNameAxis_EquityIncentivePlan2014Member" unitRef="U001" decimals="-5">1600000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice id="Fact_ca84ee4d676f46bbb4966eb07a8f22b5" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">6.07</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber id="Fact_2edbd9a48e0c42708896a0145424e39a" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">490500</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod id="Fact_fcb50a3c05a34f0eb15ce249d6f5d4fd" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod>
  <!--Forfeited or expired (in dollars per share)-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice id="Fact_122ee92ddf85437c9b237323f47bf0d3" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice>
  <!--Share-based Payment Arrangement [Policy Text Block]-->
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy id="Fact_e710f8d844dc41779ea6219c9db43f45" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Share-Based Compensation&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company maintains an equity incentive plan for the benefit of its employees and non-employee directors. The Company records share-based compensation costs as expense over the applicable vesting period of the stock award using the straight-line method. The compensation costs to be expensed are measured at the grant date based on the fair value of the award. The Company has adopted the alternative transition method for calculating the tax effects of share-based compensation, which allows for a simplified method of calculating the tax effects of employee share-based compensation. The impact on the income tax provision for the granting and exercise of stock options during the three and nine months ended May 31, 2020 was a deferred tax benefit of $18,700 and a deferred tax benefit of $39,000, respectively. Because the Company had a full valuation allowance on its deferred tax assets as of November 30, 2018, there was no effect on the tax provision during the period. The Company recognized $81,900 of share-based compensation expense and $96,100 of share-based compensation expense during the three months ended May 31, 2020 and 2019, respectively. The Company recognized $435,100 of share-based compensation expense, which included unrestricted stock grants, and $257,800 of share-based compensation expense during the nine months ended May 31, 2020 and 2019, respectively.&lt;/div&gt;&lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber id="Fact_b5e8e5d1b2204cc38da207ab112016cf" contextRef="c20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">555500</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber id="Fact_b4c342c18a6044a0960e83643f75940b" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">670500</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="Fact_399818f293954fe6af0a189eb4680999" contextRef="c20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">6.33</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="Fact_e7ae208e797b4ca1abba8545f04c501a" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U003" decimals="2">7.20</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue id="Fact_4220d5c6bd9643e0b8d1fa622e8a9889" contextRef="c20190831_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">2527590</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <!--Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue id="Fact_be099706b9e846a697204a5fda6ba290" contextRef="c20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U002" decimals="0">2066420</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <!--Shares, Outstanding-Preferred Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_15a7a42138324b27b3da547e05635a4c" contextRef="c20180831_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">432513</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Common Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_191fdadcdbc74f01ac275743ae1ebd00" contextRef="c20190228_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">23801598</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Common Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_5acd56a6433a484b95984207720b0cd4" contextRef="c20190831_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">23826598</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Preferred Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_5d4dd2e981af4773bf9699bffe9885d9" contextRef="c20190228_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">432513</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Common Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_7ef1c057e4384d439cb88d2d50ccd12f" contextRef="c20200229_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">23851098</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Common Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_93d503e3d0b64cf3b76fbcd492645e18" contextRef="c20180831_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">23764098</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Preferred Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_afc3d34f7fc942fa8a56bd0bcf4d6410" contextRef="c20200229_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">432513</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Preferred Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_f1726c086eee4875a905762560cf4c75" contextRef="c20190831_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">432513</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Common Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_0a0ac1924e664659a979d9eb562660df" contextRef="c20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">23801598</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Common Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_117666c0ea4f45e9a14715dce587a6be" contextRef="c20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">23853598</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Preferred Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_4d93092e61d84bb9ba413c28e2e4a588" contextRef="c20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">432513</us-gaap:SharesOutstanding>
  <!--Shares, Outstanding-Preferred Stock [Member]-->
  <us-gaap:SharesOutstanding id="Fact_b5f43542f6ac49d080d85bb2056072cf" contextRef="c20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">432513</us-gaap:SharesOutstanding>
  <!--Short-term investments-->
  <us-gaap:ShortTermInvestments id="Fact_0d7b25a94d584e1089e521574925c60c" contextRef="c20190831" unitRef="U002" decimals="0">5188813</us-gaap:ShortTermInvestments>
  <!--Short-term investments-->
  <us-gaap:ShortTermInvestments id="Fact_b3e29b8d4322478d9e0f154d4b9166ae" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:ShortTermInvestments>
  <!--Stock granted for services-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_25fbb2fa8c6d4e26a467e3dcffed9b20" contextRef="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_3648e93b87c6435988d304890a631299" contextRef="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_4bc30078ec9c44d9a65fc981a5d89db4" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-Additional Paid-in Capital [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_5b950f8f469943d1a3b39117607f7b81" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-Additional Paid-in Capital [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_68b439f230d34024b5033e5123b639a9" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">149360</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_813e1a446f3f40aebfab26cfee3e0b77" contextRef="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-Retained Earnings [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_8432326961ee4ef59c3b190df8289474" contextRef="c20190901to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-Retained Earnings [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_b08ece971b4a4b5abc39f3bb843cb414" contextRef="c20200301to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_bb60af340fba4f348e5e6da489f98f4e" contextRef="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">40</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_bd54bcbb66374200ac9d63b5ada6a661" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_c4ea892b04c14fb481713159795f3cc8" contextRef="c20200301to20200531" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock granted for services-->
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices id="Fact_fb7ee33e97f84158bdf1d022d4d4c073" contextRef="c20190901to20200531" unitRef="U002" decimals="0">149400</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <!--Stock option exercises (in shares)-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_0dae94146c984fde8692f815f6f06d9d" contextRef="c20190301to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_36b8133844fd482295d4bbfb93b634ea" contextRef="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">15000</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_39f0404033ad43efba2b59bebc9c6fbc" contextRef="c20180901to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">37500</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_5d2c2d29fe93401a85973d80d62dd02b" contextRef="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">2500</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_61e5ee6be3794449a7a99423bab55c2f" contextRef="c20190301to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_88aafcc067784d99af82bed7630ede7c" contextRef="c20180901to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_d8307af33750434db0c505a49e77d59a" contextRef="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_e9c9e9f74b7b4bc5a6e70f4b13c6ebeb" contextRef="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock option exercises (in shares)-Incentive Plan 2004 and Equity Plan 2014 [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Fact_6839ba91b79442b3ab5bbdb65447331a" contextRef="c20190901to20200531_PlanNameAxis_IncentivePlan2004AndEquityPlan2014Member" unitRef="U001" decimals="INF">15000</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <!--Stock granted for services (in shares)-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices id="Fact_1191c6b6d79847e6bd8a63dcbb890947" contextRef="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <!--Stock granted for services (in shares)-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices id="Fact_88dc2f4d76134ec187e95753c72bcae0" contextRef="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <!--Stock granted for services (in shares)-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices id="Fact_cabcb84f6e8d41a6950499a173c08792" contextRef="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U001" decimals="INF">0</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <!--Stock granted for services (in shares)-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices id="Fact_ce797f8215a14bf59c47aeb2e3c107a2" contextRef="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U001" decimals="INF">12000</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <!--Stock option exercises-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_15c48629281d4a1a9a1bf5910d2139c3" contextRef="c20190301to20190531" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_1c9bfe7fd9e34d5b8a54ca6fbcde1a28" contextRef="c20190301to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Retained Earnings [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_1fd4d7e0acd248e3b1d7a2b0e9dabd88" contextRef="c20190901to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Additional Paid-in Capital [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_205f75ad4cf54c7aa305b7074804dcdb" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">4617</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Additional Paid-in Capital [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_2341919d94af4fc6892f83df72c6160c" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">114725</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_34a7342ee228499ea1b2bfd52a5b899a" contextRef="c20180901to20190531" unitRef="U002" decimals="0">114851</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_398b2c72c0634383ba88bb018eede79b" contextRef="c20190901to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">50</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_3f8413ceee5847718140fe7e34f2fe6e" contextRef="c20200301to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_5bfee2f682cb40f7840341718d817de2" contextRef="c20190301to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_7c30e2478b494e78b2aa335c3c17c834" contextRef="c20200301to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_7e185f4cd79d47c7bc27918edc456b37" contextRef="c20190901to20200531" unitRef="U002" decimals="0">40025</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Retained Earnings [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_81a10879ea834a65b81caf8f9e2b935e" contextRef="c20200301to20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Retained Earnings [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_84218096756945c79ce83cef83074fa4" contextRef="c20190301to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Additional Paid-in Capital [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_8bc0d672b0f448648cf90f02b2441bd8" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Additional Paid-in Capital [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_a09784f4939f4149a0e5e1eb0013f6f1" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">39975</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Retained Earnings [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_a0a5ebc27cd04f7ea4bf00eff7014f1d" contextRef="c20180901to20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_a115bca43541495b8eb686ddcfe771bd" contextRef="c20190901to20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_c33eca7e6fc3403283ee1be163a34cde" contextRef="c20190901to20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_d01be536a2d14a3bb49c9a9b0d747e42" contextRef="c20180901to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_d6277f4d9cb049c28f14d885212d7c0a" contextRef="c20200301to20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">8</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Common Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_d9bb955f785f44378503e4a504cef288" contextRef="c20180901to20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">126</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_da8e48aacf354b719335f2a1d63ef9c1" contextRef="c20190301to20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_e7f7143b4f0c45669bcd2f6f63396f46" contextRef="c20200301to20200531" unitRef="U002" decimals="0">4625</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stock option exercises-Preferred Stock [Member]-->
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Fact_f2ab9bbcebf0487a805c9ebbcdf9747e" contextRef="c20180901to20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <!--Stockholders' Equity Attributable to Parent-->
  <us-gaap:StockholdersEquity id="Fact_4faa128736194b7686ad8becb5fcfe42" contextRef="c20200531" unitRef="U002" decimals="0">81266104</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-->
  <us-gaap:StockholdersEquity id="Fact_f198cb91d42a4cdd9868eb65cb6417c6" contextRef="c20190831" unitRef="U002" decimals="0">74731141</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Cumulative Effect, Period of Adoption, Adjustment [Member]-Additional Paid-in Capital [Member]-->
  <us-gaap:StockholdersEquity id="Fact_04abad59a09b41339a8a38a0c94e320f" contextRef="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">0</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Preferred Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_1523a5c6655943d28e7e61bf2f654da9" contextRef="c20190228_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">433</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Additional Paid-in Capital [Member]-->
  <us-gaap:StockholdersEquity id="Fact_2ac5a1992a8141eebf199910eea16d76" contextRef="c20200229_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">172748925</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Preferred Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_3318d9d102064a6fb5426f6bf3de7f7c" contextRef="c20180831_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">433</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-->
  <us-gaap:StockholdersEquity id="Fact_3deb559587ed4ec2822e2d32eab86202" contextRef="c20190228" unitRef="U002" decimals="0">70213975</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Retained Earnings [Member]-->
  <us-gaap:StockholdersEquity id="Fact_400b331729ec46a2866d8c7c4a4c8b43" contextRef="c20190228_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">-101986224</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Retained Earnings [Member]-->
  <us-gaap:StockholdersEquity id="Fact_42afec4c3a2b4a3686f69277eadfa29a" contextRef="c20180831_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">-102524171</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Common Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_53d32f96c8ba4c9b83468a7c547cd588" contextRef="c20200229_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">79509</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Cumulative Effect, Period of Adoption, Adjustment [Member]-Retained Earnings [Member]-->
  <us-gaap:StockholdersEquity id="Fact_64a266ad465e47f6b342fb4267dd7da6" contextRef="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">0</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Cumulative Effect, Period of Adoption, Adjustment [Member]-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockholdersEquity id="Fact_6b78263d61eb4ddc984d6b01ad69b0e9" contextRef="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Preferred Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_6e6090076b1940929a3ad6d061ec4a00" contextRef="c20200229_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">433</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockholdersEquity id="Fact_79ce2eee41cd4581bf68c7161db4023d" contextRef="c20200229_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">233</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-->
  <us-gaap:StockholdersEquity id="Fact_96f135b8587d4582909322b0df6f2db7" contextRef="c20200229" unitRef="U002" decimals="0">81152460</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Common Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_97809d07ec9c477e9a393a8545bf495a" contextRef="c20190831_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">79427</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Common Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_97b2acaa67404dc397d97d96874266e7" contextRef="c20180831_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">79218</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-->
  <us-gaap:StockholdersEquity id="Fact_a06bba711fac4421871cd80684457432" contextRef="c20180831" unitRef="U002" decimals="0">69453219</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockholdersEquity id="Fact_a6d5e6139f32435ca54025303926d2fc" contextRef="c20190831_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">3891</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Retained Earnings [Member]-->
  <us-gaap:StockholdersEquity id="Fact_b682f060d9c64f6a968fd1a7a2ec0cce" contextRef="c20200229_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">-91676640</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Additional Paid-in Capital [Member]-->
  <us-gaap:StockholdersEquity id="Fact_ba3d001a6c8a4fc6b0fb3855caace348" contextRef="c20190831_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">172360413</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Retained Earnings [Member]-->
  <us-gaap:StockholdersEquity id="Fact_bb84d37793e846bda52813e6eb49c08e" contextRef="c20190831_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">-97713023</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Preferred Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_c31cc2df147a4cf7b8aaf611c909009d" contextRef="c20190831_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">433</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Cumulative Effect, Period of Adoption, Adjustment [Member]-->
  <us-gaap:StockholdersEquity id="Fact_c757d9909f7944a7a896eca782fec064" contextRef="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember" unitRef="U002" decimals="0">0</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockholdersEquity id="Fact_cbabc1cbdfbc4a0aa6e61447185ad0e3" contextRef="c20180831_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">66446</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Cumulative Effect, Period of Adoption, Adjustment [Member]-Common Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_cebe9abb009f4917b2e174f9c8b5dbe1" contextRef="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">0</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Additional Paid-in Capital [Member]-->
  <us-gaap:StockholdersEquity id="Fact_d5c7fea41e654fe98e65cf1f8f1dbf38" contextRef="c20180831_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">171831293</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Additional Paid-in Capital [Member]-->
  <us-gaap:StockholdersEquity id="Fact_d75d58e82eab4175b8221f9635b4259e" contextRef="c20190228_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">172107735</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Preferred Stock [Member]-Cumulative Effect, Period of Adoption, Adjustment [Member]-->
  <us-gaap:StockholdersEquity id="Fact_dd5f0dc883ac489d9c20cdc2fd050d55" contextRef="c20180831_CumulativeEffectPeriodOfAdoptionAxis_CumulativeEffectPeriodOfAdoptionAdjustmentMember_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">0</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockholdersEquity id="Fact_e69efc0990774b7a8f7b82397f5f8385" contextRef="c20190228_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">12687</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Common Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_f46508a2261e460ab7267d19a358e08d" contextRef="c20190228_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">79344</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Additional Paid-in Capital [Member]-->
  <us-gaap:StockholdersEquity id="Fact_0a4e4c77d5384841afb27cb5cdcbbef7" contextRef="c20200531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">172835457</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Additional Paid-in Capital [Member]-->
  <us-gaap:StockholdersEquity id="Fact_1d21fe57c66f4acbb96416d1c6e59067" contextRef="c20190531_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="U002" decimals="0">172203831</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Preferred Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_4ba27720789e4e66b0cc9ee4865f6cad" contextRef="c20200531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">433</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Common Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_57cb07e43d32461684000e924fd47c61" contextRef="c20190531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">79344</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Preferred Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_5a1306a7e2ea4e8f9e7da1ab63949ada" contextRef="c20190531_StatementEquityComponentsAxis_PreferredStockMember" unitRef="U002" decimals="0">433</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockholdersEquity id="Fact_6adb6f7042444f0cb92deb987a791005" contextRef="c20190531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">12656</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-AOCI Attributable to Parent [Member]-->
  <us-gaap:StockholdersEquity id="Fact_9c5c982bc92047a68f53b508e0041181" contextRef="c20200531_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="U002" decimals="0">0</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Retained Earnings [Member]-->
  <us-gaap:StockholdersEquity id="Fact_b2a2bedd9ab041928a616c96b60a1569" contextRef="c20190531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">-100724853</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Common Stock [Member]-->
  <us-gaap:StockholdersEquity id="Fact_bae79d059d7a41e789bb69ce66137404" contextRef="c20200531_StatementEquityComponentsAxis_CommonStockMember" unitRef="U002" decimals="0">79517</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-Retained Earnings [Member]-->
  <us-gaap:StockholdersEquity id="Fact_c326975e6790484c830f6ffafc0bed19" contextRef="c20200531_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="U002" decimals="0">-91649303</us-gaap:StockholdersEquity>
  <!--Stockholders' Equity Attributable to Parent-->
  <us-gaap:StockholdersEquity id="Fact_cc4fdaa068364ebfbac0901e1f7164fe" contextRef="c20190531" unitRef="U002" decimals="0">71571411</us-gaap:StockholdersEquity>
  <!--Accrued interest of unrecognized tax benefits-->
  <us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued id="Fact_953d30de2df34e71ae8352b8842ce331" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued>
  <!--Interest expense on unrecognized tax benefits-->
  <us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense id="Fact_0720f55398bb408e98abab97496dcdc1" contextRef="c20190901to20200531" unitRef="U002" decimals="0">0</us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense>
  <!--Interest expense on unrecognized tax benefits-->
  <us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense id="Fact_0736ae2d2081452ea11897e3c92aa235" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense>
  <!--Interest expense on unrecognized tax benefits-->
  <us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense id="Fact_e6a0a435e3de43dda6855290b83f15a0" contextRef="c20190301to20190531" unitRef="U002" decimals="0">0</us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense>
  <!--Interest expense on unrecognized tax benefits-->
  <us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense id="Fact_ffdca617bb3a43b3a7ce8b8546a9660a" contextRef="c20200301to20200531" unitRef="U002" decimals="0">0</us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense>
  <!--Accrued penalties of unrecognized tax benefits-->
  <us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued id="Fact_e023f6f3f69345cb8d58a705e8d09bfb" contextRef="c20200531" unitRef="U002" decimals="0">0</us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued>
  <!--Use of Estimates-->
  <us-gaap:UseOfEstimates id="Fact_433e695f1aaf44b3ac14e24e292d0864" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Use of Estimates&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used to account for certain items such as revenue recognition, reimbursable costs and expenses, costs of revenue for lot sales, share-based compensation, deferred tax asset valuation, depreciation and the recoverability of long lived assets. &lt;font style="background-color: #FFFFFF; color: #212529;"&gt;Actual results and outcomes may differ from management&amp;#8217;s estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to COVID-19.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:UseOfEstimates>
  <!--Weighted Average Number of Shares Outstanding, Basic-->
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic id="Fact_1d0d19180fa742cd9477797e2142eefb" contextRef="c20180901to20190531" unitRef="U001" decimals="INF">23791320</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <!--Weighted Average Number of Shares Outstanding, Basic-->
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic id="Fact_63962363f6b44135b8192e7132dc3da8" contextRef="c20200301to20200531" unitRef="U001" decimals="INF">23852765</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <!--Weighted Average Number of Shares Outstanding, Basic-->
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic id="Fact_e948d487c3b74d928fc945799040604d" contextRef="c20190301to20190531" unitRef="U001" decimals="INF">23801598</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <!--Weighted Average Number of Shares Outstanding, Basic-->
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic id="Fact_ea625a4195224de0bb71cdb5428b4762" contextRef="c20190901to20200531" unitRef="U001" decimals="INF">23841876</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <!--Weighted Average Number of Shares Outstanding, Diluted-->
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding id="Fact_12b47af67d3048fa884ba6bff447f412" contextRef="c20190301to20190531" unitRef="U001" decimals="INF">24003242</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <!--Weighted Average Number of Shares Outstanding, Diluted-->
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding id="Fact_143a0290eb21438390113dcfb69bf91f" contextRef="c20180901to20190531" unitRef="U001" decimals="INF">23998254</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <!--Weighted Average Number of Shares Outstanding, Diluted-->
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding id="Fact_1878ec32f7da482983504f28c20403b6" contextRef="c20190901to20200531" unitRef="U001" decimals="INF">24071018</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <!--Weighted Average Number of Shares Outstanding, Diluted-->
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding id="Fact_b6051a042da54518a2443cb9fbf12f19" contextRef="c20200301to20200531" unitRef="U001" decimals="INF">24052820</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <!--Oil and Gas, Undeveloped Acreage, Net-O and G Lease [Member]-->
  <srt:GasAndOilAreaUndevelopedNet id="Fact_cee8cd3bcbeb46c08a48bc9450c26edb" contextRef="c20200531_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U004" decimals="INF">16</srt:GasAndOilAreaUndevelopedNet>
  <!--Oil, Productive Well, Number of Wells, Net-->
  <srt:ProductiveOilWellsNumberOfWellsNet id="Fact_f932f5debe074d0984089ce06e2566a2" contextRef="c20200531" unitRef="U012" decimals="INF">6</srt:ProductiveOilWellsNumberOfWellsNet>
  <!--Amendment Flag-->
  <dei:AmendmentFlag id="Fact_58a6860a34044342942ed918ff764ff6" contextRef="c20190901to20200531">false</dei:AmendmentFlag>
  <!--Current Fiscal Year End Date-->
  <dei:CurrentFiscalYearEndDate id="Fact_230554ac3de2419d8105b033d1801d74" contextRef="c20190901to20200531">--08-31</dei:CurrentFiscalYearEndDate>
  <!--Document Period End Date-->
  <dei:DocumentPeriodEndDate id="Fact_f3028c9df81a4b95816c0565896aefb4" contextRef="c20190901to20200531">2020-05-31</dei:DocumentPeriodEndDate>
  <!--Entity Address, State or Province-->
  <dei:EntityAddressStateOrProvince id="Fact_e181dddbcf5647109c5a29b995f21c62" contextRef="c20190901to20200531">CO</dei:EntityAddressStateOrProvince>
  <!--Entity Current Reporting Status-->
  <dei:EntityCurrentReportingStatus id="Fact_722d3b3630eb4fa4af3e9ef26a22fbb3" contextRef="c20190901to20200531">Yes</dei:EntityCurrentReportingStatus>
  <!--Entity Filer Category-->
  <dei:EntityFilerCategory id="Fact_5db06e39a27c4eb6812966e467748a6b" contextRef="c20190901to20200531">Accelerated Filer</dei:EntityFilerCategory>
  <!--Entity Registrant Name-->
  <dei:EntityRegistrantName id="Fact_f1ba5f7bcc274a7189ee00ef1d3d031e" contextRef="c20190901to20200531">PURE CYCLE CORP</dei:EntityRegistrantName>
  <!--Entity Central Index Key-->
  <dei:EntityCentralIndexKey id="Fact_0fc06a8d4c214b048f9e47703a2f884c" contextRef="c20190901to20200531">0000276720</dei:EntityCentralIndexKey>
  <!--Entity Common Stock, Shares Outstanding-->
  <dei:EntityCommonStockSharesOutstanding id="Fact_dab55cfe9cce4adc9be150a2b06a4e4d" contextRef="c20200702" unitRef="U001" decimals="INF">23853598</dei:EntityCommonStockSharesOutstanding>
  <!--Document Fiscal Year Focus-->
  <dei:DocumentFiscalYearFocus id="Fact_a2541a76df2c45119b3660fcbc6b75bd" contextRef="c20190901to20200531">2020</dei:DocumentFiscalYearFocus>
  <!--Document Fiscal Period Focus-->
  <dei:DocumentFiscalPeriodFocus id="Fact_7892cf6b0f9c4d8b98a4d489ebce2fe4" contextRef="c20190901to20200531">Q3</dei:DocumentFiscalPeriodFocus>
  <!--Document Type-->
  <dei:DocumentType id="Fact_ab4d6924f1684dccb7aa7dbb4c604d03" contextRef="c20190901to20200531">10-Q</dei:DocumentType>
  <!--Entity Interactive Data Current-->
  <dei:EntityInteractiveDataCurrent id="Fact_b66ec83bc3dd459db510e5190790d164" contextRef="c20190901to20200531">Yes</dei:EntityInteractiveDataCurrent>
  <!--Entity Shell Company-->
  <dei:EntityShellCompany id="Fact_be270eacf4b340bdb7be418ce9bdb3c9" contextRef="c20190901to20200531">false</dei:EntityShellCompany>
  <!--Entity Emerging Growth Company-->
  <dei:EntityEmergingGrowthCompany id="Fact_edfb4541bd07455282e3e789bdee4465" contextRef="c20190901to20200531">false</dei:EntityEmergingGrowthCompany>
  <!--Entity Small Business-->
  <dei:EntitySmallBusiness id="Fact_7aebcea955cf4589947e22bd04ba8bdc" contextRef="c20190901to20200531">true</dei:EntitySmallBusiness>
  <!--Number of Liabilities-Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]-->
  <pcyo:NumberOfLiabilities id="Fact_4eebc34991e34ff2ba573158d4ae4dd2" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="U015" decimals="INF">0</pcyo:NumberOfLiabilities>
  <!--Number of Liabilities-Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]-->
  <pcyo:NumberOfLiabilities id="Fact_8c5b51de0a0c4d39bc76e007d4fc54d1" contextRef="c20200531_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="U015" decimals="INF">0</pcyo:NumberOfLiabilities>
  <!--Number of Liabilities-Significant Unobservable Inputs (Level 3) [Member]-->
  <pcyo:NumberOfLiabilities id="Fact_aee54d453a6b46e9ab5c29ed8e27f64c" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member" unitRef="U015" decimals="INF">1</pcyo:NumberOfLiabilities>
  <!--Number of Liabilities-Significant Unobservable Inputs (Level 3) [Member]-->
  <pcyo:NumberOfLiabilities id="Fact_e4533a72d2d34b94a5ee469ac9b5ab35" contextRef="c20200531_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member" unitRef="U015" decimals="INF">1</pcyo:NumberOfLiabilities>
  <!--Number of Assets-Significant Other Observable Inputs (Level 2) [Member]-->
  <pcyo:NumberOfAssets id="Fact_1d79dd71ed9a4228b3e021722dcfd63d" contextRef="c20200531_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member" unitRef="U014" decimals="INF">0</pcyo:NumberOfAssets>
  <!--Number of Assets-Significant Other Observable Inputs (Level 2) [Member]-->
  <pcyo:NumberOfAssets id="Fact_d600c0c598ce4fd7bf67065143925011" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member" unitRef="U014" decimals="INF">1</pcyo:NumberOfAssets>
  <!--Number of Assets-Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]-->
  <pcyo:NumberOfAssets id="Fact_dc9ec72703094c7dbeed9c6c829316d4" contextRef="c20200531_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="U014" decimals="INF">0</pcyo:NumberOfAssets>
  <!--Number of Assets-Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]-->
  <pcyo:NumberOfAssets id="Fact_e310f866bcb74773bf3f13f8b624e934" contextRef="c20190831_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="U014" decimals="INF">0</pcyo:NumberOfAssets>
  <!--Percentage of Payment Allocated to Recorded Liability Account-->
  <pcyo:PercentageOfPaymentAllocatedToRecordedLiabilityAccount id="Fact_d3712560642545288101fa269aa450c2" contextRef="c20200531" unitRef="U008" decimals="2">0.35</pcyo:PercentageOfPaymentAllocatedToRecordedLiabilityAccount>
  <!--Contingency, Relinquishment-->
  <pcyo:ContingencyRelinquishment id="Fact_9761e509bbca4b10aa76d0e7d90dccdb" contextRef="c19960411to20190831" unitRef="U002" decimals="0">1554300</pcyo:ContingencyRelinquishment>
  <!--Export water proceeds received, Option Payments-->
  <pcyo:ExportWaterProceedsReceivedOptionPayments id="Fact_cc7c14ce986648e49fbc7f3a7b3f8747" contextRef="c19960411to20190831" unitRef="U002" decimals="0">110400</pcyo:ExportWaterProceedsReceivedOptionPayments>
  <!--Export water proceeds received, Acquisitions-->
  <pcyo:ExportWaterProceedsReceivedAcquisitions id="Fact_967e118de52043679c87c85c48c199eb" contextRef="c19960411to20190831" unitRef="U002" decimals="0">0</pcyo:ExportWaterProceedsReceivedAcquisitions>
  <!--Participating Interests Liability, Acquisitions-->
  <pcyo:ParticipatingInterestsLiabilityAcquisitions id="Fact_5d33fdda39024606a17e9b568dab78c0" contextRef="c19960411to20190831" unitRef="U002" decimals="0">9790000</pcyo:ParticipatingInterestsLiabilityAcquisitions>
  <!--Number of Other Governmental and Quasi-governmental Water Providers-South Metro Wise Authority [Member]-->
  <pcyo:NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders id="Fact_86cd14d56594469684403e75a7ccafa9" contextRef="c20190901to20200531_RelatedPartyTransactionAxis_SouthMetroWiseAuthorityMember" unitRef="U016" decimals="INF">9</pcyo:NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders>
  <!--Initial Export Water Proceeds, Relinquishment-->
  <pcyo:InitialExportWaterProceedsRelinquishment id="Fact_86eebeadb13a434995aaf43ede76798e" contextRef="c19960411to20190831" unitRef="U002" decimals="0">2386400</pcyo:InitialExportWaterProceedsRelinquishment>
  <!--Initial Export Water Proceeds, Option payments-->
  <pcyo:InitialExportWaterProceedsOptionPayments id="Fact_1fc5b8ffa0844fcb86b0af8402950be9" contextRef="c19960411to20190831" unitRef="U002" decimals="0">42300</pcyo:InitialExportWaterProceedsOptionPayments>
  <!--Number of Members to Deliver Water-South Metro Wise Authority [Member]-->
  <pcyo:NumberOfMembersToDeliverWater id="Fact_e0472d84ac664e9ba7b0d125b02e6df4" contextRef="c20190901to20200531_RelatedPartyTransactionAxis_SouthMetroWiseAuthorityMember" unitRef="U016" decimals="INF">10</pcyo:NumberOfMembersToDeliverWater>
  <!--Export water proceeds received, Tap Fees-->
  <pcyo:ExportWaterProceedsReceivedTapFees id="Fact_580c089b58454d7498475289b0d6e2ec" contextRef="c19960411to20190831" unitRef="U002" decimals="0">533000</pcyo:ExportWaterProceedsReceivedTapFees>
  <!--Export water proceeds received, Relinquishment-->
  <pcyo:ExportWaterProceedsReceivedRelinquishment id="Fact_c2cc5d64dc444756b87a12f6d05cfbfa" contextRef="c19960411to20190831" unitRef="U002" decimals="0">0</pcyo:ExportWaterProceedsReceivedRelinquishment>
  <!--Export water proceeds received, Sale Payments-->
  <pcyo:ExportWaterProceedsReceivedSalePayments id="Fact_6f9c54845f6f4b12bb3e9e3549dfc6d7" contextRef="c19960411to20190831" unitRef="U002" decimals="0">903600</pcyo:ExportWaterProceedsReceivedSalePayments>
  <!--Export water proceeds received, Sale Payments-->
  <pcyo:ExportWaterProceedsReceivedSalePayments id="Fact_d9f76644f9e6411aaaf7aa7a839538c9" contextRef="c20190901to20200531" unitRef="U002" decimals="0">101200</pcyo:ExportWaterProceedsReceivedSalePayments>
  <!--Export water proceeds received, Balances-->
  <pcyo:ExportWaterProceedsReceivedBalances id="Fact_b30f7ee75faf4d009cd15ed6880c5579" contextRef="c19960410" unitRef="U002" decimals="0">0</pcyo:ExportWaterProceedsReceivedBalances>
  <!--Export water proceeds received, Balances-->
  <pcyo:ExportWaterProceedsReceivedBalances id="Fact_179390e45472445db9b6c64b930ea533" contextRef="c20190831" unitRef="U002" decimals="0">1547000</pcyo:ExportWaterProceedsReceivedBalances>
  <!--Export water proceeds received, Balances-->
  <pcyo:ExportWaterProceedsReceivedBalances id="Fact_ee44c3cf151941dc84e2a51bc727e09b" contextRef="c20200531" unitRef="U002" decimals="0">1648200</pcyo:ExportWaterProceedsReceivedBalances>
  <!--Potential Third-Party Obligation, Option payments-->
  <pcyo:PotentialThirdPartyObligationOptionPayments id="Fact_63daed7d70c646edac6987fb8aef4149" contextRef="c19960411to20190831" unitRef="U002" decimals="0">68100</pcyo:PotentialThirdPartyObligationOptionPayments>
  <!--Percentage of Net Proceeds from Sale of Export Water Allocated-->
  <pcyo:PercentageOfNetProceedsFromSaleOfExportWaterAllocated id="Fact_d948c87d6f4a4e92b07db7af8038e029" contextRef="c20200531" unitRef="U008" decimals="5">0.88105</pcyo:PercentageOfNetProceedsFromSaleOfExportWaterAllocated>
  <!--Expected future export water payouts-->
  <pcyo:ExpectedFutureExportWaterPayouts id="Fact_d03ad1a91a334d6a88656830d0bfa89c" contextRef="c20190901to20200531" unitRef="U002" decimals="-5">6400000</pcyo:ExpectedFutureExportWaterPayouts>
  <!--Expected future Revenue Receivable from Sale of Export Water-->
  <pcyo:ExpectedFutureRevenueReceivableFromSaleOfExportWater id="Fact_9e62856ef3364edf8d86b8ab3e9bef90" contextRef="c20200531" unitRef="U002" decimals="-5">5600000</pcyo:ExpectedFutureRevenueReceivableFromSaleOfExportWater>
  <!--Expected Proceeds from Sale of Export Water after Deduction of Royalty-->
  <pcyo:ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty id="Fact_d138663b45334fcdb0db3cb6fd5ee58b" contextRef="c20190901to20200531" unitRef="U002" decimals="0">220000</pcyo:ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty>
  <!--Potential Third-Party Obligation, Tap fees-->
  <pcyo:PotentialThirdPartyObligationTapFees id="Fact_01f62a2b303248f38a564ae126edc36d" contextRef="c19960411to20190831" unitRef="U002" decimals="0">159900</pcyo:PotentialThirdPartyObligationTapFees>
  <!--Initial Export Water Proceeds, Acquisitions-->
  <pcyo:InitialExportWaterProceedsAcquisitions id="Fact_16acdb84b53f4890bc9989f8f8a18a82" contextRef="c19960411to20190831" unitRef="U002" decimals="0">28042500</pcyo:InitialExportWaterProceedsAcquisitions>
  <!--Contingency, Option payments-->
  <pcyo:ContingencyOptionPayments id="Fact_7d2c339586eb4e8c960329b0a713f3a0" contextRef="c19960411to20190831" unitRef="U002" decimals="0">44300</pcyo:ContingencyOptionPayments>
  <!--Potential Third-Party Obligation, Relinquishment-->
  <pcyo:PotentialThirdPartyObligationRelinquishment id="Fact_7f176a085669417b8de0c545879c5766" contextRef="c19960411to20190831" unitRef="U002" decimals="0">2386400</pcyo:PotentialThirdPartyObligationRelinquishment>
  <!--Participating Interests Liability, Tap fees-->
  <pcyo:ParticipatingInterestsLiabilityTapFees id="Fact_e3e09dda9fc247acb6b105d600fe16d2" contextRef="c19960411to20190831" unitRef="U002" decimals="0">55800</pcyo:ParticipatingInterestsLiabilityTapFees>
  <!--Participating Interests Liability, Relinquishment-->
  <pcyo:ParticipatingInterestsLiabilityRelinquishment id="Fact_186a76c57cc64a629abc6003c3242026" contextRef="c19960411to20190831" unitRef="U002" decimals="0">832100</pcyo:ParticipatingInterestsLiabilityRelinquishment>
  <!--Participating Interests Liability, Export Water sale payments-->
  <pcyo:ParticipatingInterestsLiabilityExportWaterSalePayments id="Fact_410759dbe17f4404ad55ac31e96370af" contextRef="c20190901to20200531" unitRef="U002" decimals="0">4200</pcyo:ParticipatingInterestsLiabilityExportWaterSalePayments>
  <!--Participating Interests Liability, Export Water sale payments-->
  <pcyo:ParticipatingInterestsLiabilityExportWaterSalePayments id="Fact_770b9d23bbe341909b18b3b21d3d2251" contextRef="c19960411to20190831" unitRef="U002" decimals="0">56700</pcyo:ParticipatingInterestsLiabilityExportWaterSalePayments>
  <!--Participating Interests Liability, Option payments-->
  <pcyo:ParticipatingInterestsLiabilityOptionPayments id="Fact_0d2717b714b8442db52bb3dce847fa52" contextRef="c19960411to20190831" unitRef="U002" decimals="0">23800</pcyo:ParticipatingInterestsLiabilityOptionPayments>
  <!--Contingency, Export Water sale payments-->
  <pcyo:ContingencyExportWaterSalePayments id="Fact_8e0d20036947427ab42f8b664bb7db0b" contextRef="c20190901to20200531" unitRef="U002" decimals="0">7800</pcyo:ContingencyExportWaterSalePayments>
  <!--Contingency, Export Water sale payments-->
  <pcyo:ContingencyExportWaterSalePayments id="Fact_8face0397762443486c18ca91296ddef" contextRef="c19960411to20190831" unitRef="U002" decimals="0">106500</pcyo:ContingencyExportWaterSalePayments>
  <!--Initial Export Water Proceeds, Tap fee-->
  <pcyo:InitialExportWaterProceedsTapFee id="Fact_1e81681d0258464a9d9be4e00d610cd4" contextRef="c19960411to20190831" unitRef="U002" decimals="0">373100</pcyo:InitialExportWaterProceedsTapFee>
  <!--Percentage of Payment Remitted to Allocated to Contingent Obligation-->
  <pcyo:PercentageOfPaymentRemittedToAllocatedToContingentObligation id="Fact_b86e5cf13a624d9ab3172e6274f4b8f9" contextRef="c20200531" unitRef="U008" decimals="2">0.65</pcyo:PercentageOfPaymentRemittedToAllocatedToContingentObligation>
  <!--Contingency, Tap fees-->
  <pcyo:ContingencyTapFees id="Fact_915466f8d6144d72963b37274a4cb69e" contextRef="c19960411to20190831" unitRef="U002" decimals="0">104100</pcyo:ContingencyTapFees>
  <!--Contingency, Acquisitions-->
  <pcyo:ContingencyAcquisitions id="Fact_c2fe24b559994da590d0b1a863498bf1" contextRef="c19960411to20190831" unitRef="U002" decimals="0">18252500</pcyo:ContingencyAcquisitions>
  <!--Potential Third-Party Obligation, Balances-->
  <pcyo:PotentialThirdPartyObligationBalances id="Fact_77f1548a89d145cfb2d67431fd93bf37" contextRef="c19960410" unitRef="U002" decimals="0">31807700</pcyo:PotentialThirdPartyObligationBalances>
  <!--Potential Third-Party Obligation, Balances-->
  <pcyo:PotentialThirdPartyObligationBalances id="Fact_820c1054125b44ce82f7bf9f8591552a" contextRef="c20200531" unitRef="U002" decimals="0">975600</pcyo:PotentialThirdPartyObligationBalances>
  <!--Potential Third-Party Obligation, Balances-->
  <pcyo:PotentialThirdPartyObligationBalances id="Fact_f08a7d3253cb4ee985e82fedba3a2cee" contextRef="c20190831" unitRef="U002" decimals="0">987600</pcyo:PotentialThirdPartyObligationBalances>
  <!--Initial Export Water Proceeds, Export Water sale payments-->
  <pcyo:InitialExportWaterProceedsExportWaterSalePayments id="Fact_a3c8ce21e6db4c458b4b6ad3a114e867" contextRef="c20190901to20200531" unitRef="U002" decimals="0">89200</pcyo:InitialExportWaterProceedsExportWaterSalePayments>
  <!--Initial Export Water Proceeds, Export Water sale payments-->
  <pcyo:InitialExportWaterProceedsExportWaterSalePayments id="Fact_cfc688ad1efe4a238841637998b22c16" contextRef="c19960411to20190831" unitRef="U002" decimals="0">740400</pcyo:InitialExportWaterProceedsExportWaterSalePayments>
  <!--Total Potential Third-Party Obligation, Export Water sale payments-->
  <pcyo:TotalPotentialThirdPartyObligationExportWaterSalePayments id="Fact_102ebf4dc42548d9b61b062f4ee6021d" contextRef="c20190901to20200531" unitRef="U002" decimals="0">12000</pcyo:TotalPotentialThirdPartyObligationExportWaterSalePayments>
  <!--Total Potential Third-Party Obligation, Export Water sale payments-->
  <pcyo:TotalPotentialThirdPartyObligationExportWaterSalePayments id="Fact_6f35c45b6bee44aa879b4c362a9eb6dd" contextRef="c19960411to20190831" unitRef="U002" decimals="0">163200</pcyo:TotalPotentialThirdPartyObligationExportWaterSalePayments>
  <!--Initial Export Water Proceeds, Balances-->
  <pcyo:InitialExportWaterProceedsBalances id="Fact_bee625d0abb348c6933a659624e7313c" contextRef="c19960410" unitRef="U002" decimals="0">218500</pcyo:InitialExportWaterProceedsBalances>
  <!--Initial Export Water Proceeds, Balances-->
  <pcyo:InitialExportWaterProceedsBalances id="Fact_397ba105e5024d62bb3e9520f28aab69" contextRef="c20190831" unitRef="U002" decimals="0">29491600</pcyo:InitialExportWaterProceedsBalances>
  <!--Initial Export Water Proceeds, Balances-->
  <pcyo:InitialExportWaterProceedsBalances id="Fact_c39d36bb302548c2a0e8a7bf0832c35d" contextRef="c20200531" unitRef="U002" decimals="0">29402400</pcyo:InitialExportWaterProceedsBalances>
  <!--Total Potential Third-Party Obligation, Acquisitions-->
  <pcyo:TotalPotentialThirdPartyObligationAcquisitions id="Fact_0cf01e4c20834530af4858fc7ba015fa" contextRef="c19960411to20190831" unitRef="U002" decimals="0">28042500</pcyo:TotalPotentialThirdPartyObligationAcquisitions>
  <!--Percentage of Original Recorded Liability to Original Total Liability-->
  <pcyo:PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability id="Fact_3c0a6be861e047dda03a4b469bb0b56b" contextRef="c20200531" unitRef="U008" decimals="2">0.35</pcyo:PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability>
  <!--Contract with Customer, Asset, Recognition of Contract Asset-->
  <pcyo:ContractWithCustomerAssetRecognitionOfContractAsset id="Fact_0f1dda1d524441c4af246d69aef474a1" contextRef="c20190901to20200531" unitRef="U002" decimals="0">0</pcyo:ContractWithCustomerAssetRecognitionOfContractAsset>
  <!--Contract with Customer, Asset, Recognition of Contract Asset-->
  <pcyo:ContractWithCustomerAssetRecognitionOfContractAsset id="Fact_3e6510946e40451cae97f44f820f97b8" contextRef="c20180901to20190831" unitRef="U002" decimals="0">1020146</pcyo:ContractWithCustomerAssetRecognitionOfContractAsset>
  <!--Number of Unsold Real Estate Properties-Sky Ranch [Member]-->
  <pcyo:NumberOfUnsoldRealEstateProperties id="Fact_b231708f1cc741389a5b8c554d13238e" contextRef="c20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U010" decimals="INF">115</pcyo:NumberOfUnsoldRealEstateProperties>
  <!--Contract with Customer, Deferral of Revenue-->
  <pcyo:ContractWithCustomerDeferralOfRevenue id="Fact_0e915cd5c64945709b0b2311c883b1d1" contextRef="c20190901to20200531" unitRef="U002" decimals="0">15949872</pcyo:ContractWithCustomerDeferralOfRevenue>
  <!--Contract with Customer, Deferral of Revenue-->
  <pcyo:ContractWithCustomerDeferralOfRevenue id="Fact_21530208aaed4397b82788097be9f95a" contextRef="c20180901to20190831" unitRef="U002" decimals="0">24998964</pcyo:ContractWithCustomerDeferralOfRevenue>
  <!--Deferred Tax Impact on Income Tax Provision-->
  <pcyo:DeferredTaxImpactOnIncomeTaxProvision id="Fact_179a9b30a72249bead8f4e81f69daa48" contextRef="c20181130" unitRef="U002" decimals="0">0</pcyo:DeferredTaxImpactOnIncomeTaxProvision>
  <!--Tax Expense (Benefit) for Granting and Exercise of Stock Options-->
  <pcyo:TaxExpenseBenefitForGrantingAndExerciseOfStockOptions id="Fact_6477a4a8388d4dd7bdbdbe23de1cbb7b" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-39000</pcyo:TaxExpenseBenefitForGrantingAndExerciseOfStockOptions>
  <!--Tax Expense (Benefit) for Granting and Exercise of Stock Options-->
  <pcyo:TaxExpenseBenefitForGrantingAndExerciseOfStockOptions id="Fact_8abcebe833be4cc88e6a7bebaa70307d" contextRef="c20200301to20200531" unitRef="U002" decimals="0">-18700</pcyo:TaxExpenseBenefitForGrantingAndExerciseOfStockOptions>
  <!--Number of Platted Lots Sold-Lot Sales Second Format [Member]-->
  <pcyo:NumberOfPlattedLotsSold id="Fact_050cbefb87f04d059f1e1ddc2d57c24e" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U010" decimals="INF">293</pcyo:NumberOfPlattedLotsSold>
  <!--Water delivered to customers-Metered Water Usage [Member]-->
  <pcyo:WaterDeliveredToCustomers id="Fact_3aefe083057a48959033b1c438a01ee8" contextRef="c20180901to20190531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U007" decimals="-5">232300000</pcyo:WaterDeliveredToCustomers>
  <!--Water delivered to customers-Metered Water Usage [Member]-->
  <pcyo:WaterDeliveredToCustomers id="Fact_7ed0a3bb3fac443eaaac99b8c2a20cc5" contextRef="c20200301to20200531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U007" decimals="-5">12200000</pcyo:WaterDeliveredToCustomers>
  <!--Water delivered to customers-Metered Water Usage [Member]-->
  <pcyo:WaterDeliveredToCustomers id="Fact_82ba0eb52735425cb523bf75285e9189" contextRef="c20190301to20190531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U007" decimals="-5">96900000</pcyo:WaterDeliveredToCustomers>
  <!--Water delivered to customers-Metered Water Usage [Member]-->
  <pcyo:WaterDeliveredToCustomers id="Fact_a12482df33554ee6a4171c246d258bbb" contextRef="c20190901to20200531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U007" decimals="-5">32400000</pcyo:WaterDeliveredToCustomers>
  <!--Number of Finished Lots Sold-Lot Sales First Format [Member]-->
  <pcyo:NumberOfFinishedLotsSold id="Fact_2806e423a0644539a9430727374755cb" contextRef="c20190301to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U010" decimals="INF">25</pcyo:NumberOfFinishedLotsSold>
  <!--Number of Finished Lots Sold-Lot Sales First Format [Member]-->
  <pcyo:NumberOfFinishedLotsSold id="Fact_849c20f4ac7d433797fb06817e8402d2" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U010" decimals="INF">41</pcyo:NumberOfFinishedLotsSold>
  <!--Number of Finished Lots Sold-Lot Sales Second Format [Member]-->
  <pcyo:NumberOfFinishedLotsSold id="Fact_8c21a979cd0a453c9ff2c65cb0042e9a" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U010" decimals="INF">293</pcyo:NumberOfFinishedLotsSold>
  <!--Number of Finished Lots Sold-Lot Sales First Format [Member]-->
  <pcyo:NumberOfFinishedLotsSold id="Fact_93bbd5dfad9b404fba4c09a0a7ef7309" contextRef="c20180901to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U010" decimals="INF">29</pcyo:NumberOfFinishedLotsSold>
  <!--Percentage of Expected Increase In Revenues Reimbursed Costs-->
  <pcyo:PercentageOfExpectedIncreaseInRevenuesReimbursedCosts id="Fact_f221f26d4da540799dd0807f60625ed2" contextRef="c20190901to20200531" unitRef="U008" decimals="2">0.27</pcyo:PercentageOfExpectedIncreaseInRevenuesReimbursedCosts>
  <!--Number of Home Builders-->
  <pcyo:NumberOfHomeBuilders id="Fact_011217ef2b374e9d9fa1563a904f14d3" contextRef="c20190901to20200531" unitRef="U009" decimals="INF">3</pcyo:NumberOfHomeBuilders>
  <!--Number of Home Builders-Lot Sales First Format [Member]-->
  <pcyo:NumberOfHomeBuilders id="Fact_07c9df53c8bf4f16866608fd1c1462b4" contextRef="c20180901to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U009" decimals="INF">1</pcyo:NumberOfHomeBuilders>
  <!--Number of Home Builders-Lot Sales Second Format [Member]-->
  <pcyo:NumberOfHomeBuilders id="Fact_1a61549e11034b099a085f81b4d4f2b7" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember" unitRef="U009" decimals="INF">2</pcyo:NumberOfHomeBuilders>
  <!--Number of Home Builders-Lot Sales First Format [Member]-->
  <pcyo:NumberOfHomeBuilders id="Fact_6a29b9e4aede43a2931b6527cd842baa" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U009" decimals="INF">1</pcyo:NumberOfHomeBuilders>
  <!--Number of Home Builders-Lot Sales First Format [Member]-->
  <pcyo:NumberOfHomeBuilders id="Fact_e379f12e5e984b7cbf8b0f3ba4abd12d" contextRef="c20190301to20190531_ProductOrServiceAxis_LotSalesFirstFormatMember" unitRef="U009" decimals="INF">1</pcyo:NumberOfHomeBuilders>
  <!--Expected delivery period for lots sold-Maximum [Member]-Lot Sales Second Format [Member]-->
  <pcyo:ExpectedDeliveryPeriodForLotsSold id="Fact_817a2b5df8a4402a930c3d31364c5a57" contextRef="c20190901to20200531_ProductOrServiceAxis_LotSalesSecondFormatMember_RangeAxis_MaximumMember">P1Y</pcyo:ExpectedDeliveryPeriodForLotsSold>
  <!--Deferred Interest Income-->
  <pcyo:DeferredInterestIncome id="Fact_1e0d3fe1a7464a6a83448478c824c595" contextRef="c20200531" unitRef="U002" decimals="0">1052900</pcyo:DeferredInterestIncome>
  <!--Construction Support Amount Invoiced-->
  <pcyo:ConstructionSupportAmountInvoiced id="Fact_74420ea530d14a178a159fcd605ee078" contextRef="c20190901to20200531" unitRef="U002" decimals="0">581100</pcyo:ConstructionSupportAmountInvoiced>
  <!--Number of Service Agreements Projects-Project Management Services [Member]-->
  <pcyo:NumberOfServiceAgreementsProjects id="Fact_80ff652718394948913282fef8d7e388" contextRef="c20190901to20200531_ProductOrServiceAxis_ProjectManagementServicesMember" unitRef="U011" decimals="INF">2</pcyo:NumberOfServiceAgreementsProjects>
  <!--Project management services - accrued reimbursable amount-Project Management Services [Member]-->
  <pcyo:ProjectManagementServicesAccruedReimbursableAmount id="Fact_a2d8d274ec924cb7884fbf3b716806e9" contextRef="c20200531_ProductOrServiceAxis_ProjectManagementServicesMember" unitRef="U002" decimals="0">1371600</pcyo:ProjectManagementServicesAccruedReimbursableAmount>
  <!--Net Proceeds Used to Reduced Remaining Capitalized Expenses In Inventories-->
  <pcyo:NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories id="Fact_e56e2c23184e4e8ca7e3a3c4bf129c4d" contextRef="c20190901to20200531" unitRef="U002" decimals="-5">4200000</pcyo:NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories>
  <!--Number of Business Lines-->
  <pcyo:NumberOfBusinessLines id="Fact_e5805d93eb874af7abed48ed601455ef" contextRef="c20190901to20200531" unitRef="U005" decimals="INF">2</pcyo:NumberOfBusinessLines>
  <!--Percentage of Water used for Oil and Gas Exploration-Metered Water Usage [Member]-->
  <pcyo:PercentageOfWaterUsedForOilAndGasExploration id="Fact_5a790a9a85e946ab90c5f9917af2cb91" contextRef="c20190901to20200531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U008" decimals="2">0.03</pcyo:PercentageOfWaterUsedForOilAndGasExploration>
  <!--Percentage of Water used for Oil and Gas Exploration-Metered Water Usage [Member]-->
  <pcyo:PercentageOfWaterUsedForOilAndGasExploration id="Fact_6693e733d1f3415e891b36e3cbd60fe9" contextRef="c20180901to20190531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U008" decimals="2">0.85</pcyo:PercentageOfWaterUsedForOilAndGasExploration>
  <!--Percentage of Water used for Oil and Gas Exploration-Metered Water Usage [Member]-->
  <pcyo:PercentageOfWaterUsedForOilAndGasExploration id="Fact_b3d2c6b3decc440f85b389b20b9f49fa" contextRef="c20190301to20190531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U008" decimals="2">0.93</pcyo:PercentageOfWaterUsedForOilAndGasExploration>
  <!--Percentage of Water used for Oil and Gas Exploration-Metered Water Usage [Member]-->
  <pcyo:PercentageOfWaterUsedForOilAndGasExploration id="Fact_c32be304f31e4009a5ca41a645ae6b5b" contextRef="c20200301to20200531_ProductOrServiceAxis_MeteredWaterUsageMember" unitRef="U008" decimals="0">0</pcyo:PercentageOfWaterUsedForOilAndGasExploration>
  <!--Number of Revenue Sources-->
  <pcyo:NumberOfRevenueSources id="Fact_0d8b490586914587a328fa6394b70208" contextRef="c20190901to20200531" unitRef="U006" decimals="INF">4</pcyo:NumberOfRevenueSources>
  <!--Reimbursable Cost, Net-Accrued Interest [Member]-->
  <pcyo:ReimbursableCostNet id="Fact_95d6974d4c2042ceb23d01f1ce1e5d00" contextRef="c20200531_ProductOrServiceAxis_AccruedInterestMember" unitRef="U002" decimals="0">1052900</pcyo:ReimbursableCostNet>
  <!--Reimbursable Cost, Net-Construction Support Activities [Member]-->
  <pcyo:ReimbursableCostNet id="Fact_9cd31b7081674ae186d46e67dd391a88" contextRef="c20200531_ProductOrServiceAxis_ConstructionSupportActivitiesMember" unitRef="U002" decimals="0">581100</pcyo:ReimbursableCostNet>
  <!--Reimbursable Cost, Net-Public Improvements [Member]-->
  <pcyo:ReimbursableCostNet id="Fact_d659769fa0f64a22a231bb881dd93b8b" contextRef="c20200531_ProductOrServiceAxis_PublicImprovementsMember" unitRef="U002" decimals="0">14926500</pcyo:ReimbursableCostNet>
  <!--Reimbursable Cost, Net-->
  <pcyo:ReimbursableCostNet id="Fact_e6bb75310d44437c80bfc5023420b335" contextRef="c20200531" unitRef="U002" decimals="0">17932100</pcyo:ReimbursableCostNet>
  <!--Reimbursable Cost, Net-Project Management Services [Member]-->
  <pcyo:ReimbursableCostNet id="Fact_fbaac8ecb90f4ebb8a619d63c46ea3f2" contextRef="c20200531_ProductOrServiceAxis_ProjectManagementServicesMember" unitRef="U002" decimals="0">1371600</pcyo:ReimbursableCostNet>
  <!--Payments Repaid by Community Authority Board-Construction Support Activities [Member]-->
  <pcyo:PaymentsRepaidByCommunityAuthorityBoard id="Fact_4481517c65e44e6ebfd37f66edda28c3" contextRef="c20200531_ProductOrServiceAxis_ConstructionSupportActivitiesMember" unitRef="U002" decimals="0">0</pcyo:PaymentsRepaidByCommunityAuthorityBoard>
  <!--Payments Repaid by Community Authority Board-Public Improvements [Member]-->
  <pcyo:PaymentsRepaidByCommunityAuthorityBoard id="Fact_761386125b5a4d1983518df097e8ee6c" contextRef="c20200531_ProductOrServiceAxis_PublicImprovementsMember" unitRef="U002" decimals="0">-10505000</pcyo:PaymentsRepaidByCommunityAuthorityBoard>
  <!--Payments Repaid by Community Authority Board-Accrued Interest [Member]-->
  <pcyo:PaymentsRepaidByCommunityAuthorityBoard id="Fact_9aa04cec29df4ffcb6dfdb957853fa3b" contextRef="c20200531_ProductOrServiceAxis_AccruedInterestMember" unitRef="U002" decimals="0">0</pcyo:PaymentsRepaidByCommunityAuthorityBoard>
  <!--Payments Repaid by Community Authority Board-Project Management Services [Member]-->
  <pcyo:PaymentsRepaidByCommunityAuthorityBoard id="Fact_c28dc090ec504706b59edfce41c1ba4b" contextRef="c20200531_ProductOrServiceAxis_ProjectManagementServicesMember" unitRef="U002" decimals="0">0</pcyo:PaymentsRepaidByCommunityAuthorityBoard>
  <!--Payments Repaid by Community Authority Board-->
  <pcyo:PaymentsRepaidByCommunityAuthorityBoard id="Fact_d6dbd1e183b940d89680ca24258324ae" contextRef="c20200531" unitRef="U002" decimals="0">-10505000</pcyo:PaymentsRepaidByCommunityAuthorityBoard>
  <!--Reimbursable Cost, Gross-Public Improvements [Member]-Forecast [Member]-->
  <pcyo:ReimbursableCostGross id="Fact_389d7ed5b60a4dcab65498a188e4effb" contextRef="c20200831_ProductOrServiceAxis_PublicImprovementsMember_StatementScenarioAxis_ScenarioForecastMember" unitRef="U002" decimals="0">3500000</pcyo:ReimbursableCostGross>
  <!--Reimbursable Cost, Gross-Public Improvements [Member]-->
  <pcyo:ReimbursableCostGross id="Fact_439e567acc0d4f6aae3d9e8fbcc4f2c7" contextRef="c20200531_ProductOrServiceAxis_PublicImprovementsMember" unitRef="U002" decimals="0">25431500</pcyo:ReimbursableCostGross>
  <!--Reimbursable Cost, Gross-Project Management Services [Member]-->
  <pcyo:ReimbursableCostGross id="Fact_4acfdbc0de0541eb8d15727570a27665" contextRef="c20200531_ProductOrServiceAxis_ProjectManagementServicesMember" unitRef="U002" decimals="0">1371600</pcyo:ReimbursableCostGross>
  <!--Reimbursable Cost, Gross-Accrued Interest [Member]-->
  <pcyo:ReimbursableCostGross id="Fact_7ab02e49974449278bedcc217ec30859" contextRef="c20200531_ProductOrServiceAxis_AccruedInterestMember" unitRef="U002" decimals="0">1052900</pcyo:ReimbursableCostGross>
  <!--Reimbursable Cost, Gross-Forecast [Member]-->
  <pcyo:ReimbursableCostGross id="Fact_9906dd59095d42afb1fc072202b7eec0" contextRef="c20200831_StatementScenarioAxis_ScenarioForecastMember" unitRef="U002" decimals="0">21600000</pcyo:ReimbursableCostGross>
  <!--Reimbursable Cost, Gross-Construction Support Activities [Member]-->
  <pcyo:ReimbursableCostGross id="Fact_9e8ca05dccdc4ba9b110a28412545ec7" contextRef="c20200531_ProductOrServiceAxis_ConstructionSupportActivitiesMember" unitRef="U002" decimals="0">581100</pcyo:ReimbursableCostGross>
  <!--Reimbursable Cost, Gross-->
  <pcyo:ReimbursableCostGross id="Fact_bbf0505e24204dcb94ed7a629115c038" contextRef="c20200531" unitRef="U002" decimals="0">28437100</pcyo:ReimbursableCostGross>
  <!--Land Development Inventories [Policy Text Block]-->
  <pcyo:LandDevelopmentInventoriesPolicyTextBlock id="Fact_0c85b3a899f64d1685970753e1e1bd8b" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Land Development Inventories&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Land development inventories primarily include land held for development and sale, which are stated at cost. The majority of the costs included in the Land development inventories line relate to costs to acquire and develop the Company&amp;#8217;s Sky Ranch development. Sky Ranch is a 930-acre master planned development located in Arapahoe County, Colorado, and the Land development inventories account reflects costs incurred to construct infrastructure on the lots at Sky Ranch that meet the Company&amp;#8217;s capitalization criteria for improvements. Costs are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company accumulates land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales over time based on inputs of costs incurred to date to total estimated costs to complete.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company values land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent sales prices for comparable lots. If a sales price is not available, the Company will consider several factors, including, but not limited to, current market conditions, and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its estimated net realizable value.&lt;/div&gt;&lt;/div&gt;</pcyo:LandDevelopmentInventoriesPolicyTextBlock>
  <!--Contract Asset [Policy Text Block]-->
  <pcyo:ContractAssetPolicyTextBlock id="Fact_4625526a18d5479d8ce99bc280685494" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Contract Asset&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="color: #000000;"&gt;Contract receivables are recorded at the invoiced amount and do not bear interest. Credit is extended based on the evaluation of a customer&amp;#8217;s financial condition and collateral is not required. &lt;/font&gt;Contract assets&lt;font style="color: #000000;"&gt; reflect revenue which has been earned but not yet invoiced. The contract assets are transferred to receivables when the Company has the right to bill such amounts and they are invoiced.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</pcyo:ContractAssetPolicyTextBlock>
  <!--Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets, Policy [Policy Text Block]-->
  <pcyo:CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock id="Fact_83c2faee5ca24488bc43cf84ccead5f3" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Costs to construct water and wastewater systems that meet the Company&amp;#8217;s capitalization criteria are capitalized as incurred, including any interest, and depreciated on a straight-line basis over their estimated useful lives of up to 30 years. The Company capitalizes design and construction costs related to construction activities, and it capitalizes certain legal, engineering and permitting costs relating to the adjudication and improvement of its water assets. The Company depletes its groundwater assets that are being utilized on the basis of units produced (i.e., thousands of gallons sold) divided by the total volume of water adjudicated in the water decrees.&lt;/div&gt;&lt;/div&gt;</pcyo:CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock>
  <!--Deferred Revenue from Contract With Customer [Policy Text Block]-->
  <pcyo:DeferredRevenueFromContractWithCustomerPolicyTextBlock id="Fact_2f15f0e226d44b18b1a94f5bf148d51a" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Deferred Revenue&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In July 2019, the Company received an up-front payment of $573,700 from an Agreement on Locations of Oil and Gas Operations&amp;#160; (the &amp;#8220;OGOA&amp;#8221;) for a pad site covering approximately 16 acres with the operator of the Sky Ranch O&amp;amp;G Lease, which will be recognized as income on a straight-line basis over three years. If after three years the operator has not spud at least one well on the OGOA, the operator may extend the right to the OGOA one additional year by paying the Company $75,000. The operator may only extend the OGOA for two additional years for a total of five years. The Company recognizes the up-front payments on a straight-line basis over the terms of the respective agreements. During the three and nine months ended May 31, 2020, the Company recognized $47,800 and $143,400 of income, respectively, related to the up-front payments received pursuant to the OGOA. No revenue was recognized for the three or nine months ended May 31, 2019 related to the up-front payments received pursuant to the OGOA. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $404,000 and $547,500, respectively, related to the OGOA.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;In September 2017, the Company entered into a Paid-Up Oil and Gas Lease with Bison Oil and Gas, LLP (the &amp;#8220;Bison Lease&amp;#8221;). Pursuant to the Bison Lease, the Company received an up-front payment of $167,200 in October 2017, which will be recognized as income on a straight-line basis over the three year term of the lease. The Company recognized lease income of $13,900 during the three months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. The Company recognized lease income of $41,800 during the nine months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $18,600 and $60,400, respectively, related to the Bison Lease that will be recognized as income ratably through September 2020.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As of May 31, 2020, the Company has also billed and received payments of $2.0 million from one of its industrial water customers to reserve first priority water for O&amp;amp;G operations for defined periods through December 2020. As the customer uses the forecasted volumes each month, the Company will recognize revenue based on the volumes used. The customer may take such volumes up to one year from invoice date. If the customer does not take the forecasted volumes in the anticipated period, such volumes are forfeited by the customer. At that time, any payments received for unused volumes will be recognized as revenue. As of May 31, 2020, the Company had deferred revenue of $2.0 million as a result of these advanced water purchase payments.&lt;/div&gt;&lt;/div&gt;</pcyo:DeferredRevenueFromContractWithCustomerPolicyTextBlock>
  <!--Royalty and Other Obligations [Policy Text Block]-->
  <pcyo:RoyaltyAndOtherObligationsPolicyTextBlock id="Fact_fbdb07bb66934d97955603d68984ebf0" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Royalty and Other Obligations&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Revenues from the sale of Export Water are shown gross of royalties payable to the Land Board. Revenues from the sale of water on the Lowry Range are invoiced directly by the Rangeview District, and a percentage of such collections are then paid to the Company by the Rangeview District. Water revenue from such sales are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District.&lt;/div&gt;&lt;/div&gt;</pcyo:RoyaltyAndOtherObligationsPolicyTextBlock>
  <!--Concentration of Credit Risk and Fair Value of Financial Instruments, Policy [Policy Text Block]-->
  <pcyo:ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock id="Fact_39850fa788eb47f498e14941fe012b51" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Concentration of Credit Risk and Fair Value&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and investments. From time to time, the Company places its cash in money market instruments, certificates of deposit and U.S. Treasury obligations. To date, the Company has not experienced significant losses on any of these investments.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the measurement falls.&amp;#160; The estimated fair value measurements in Note 2 &amp;#8211; &lt;font style="font-style: italic;"&gt;Fair Value Measurements&lt;/font&gt; are based on Level 2 of the fair value hierarchy.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Cash and Cash Equivalents &amp;#8211;&lt;/font&gt; The Company&amp;#8217;s cash and cash equivalents are reported using the values as reported by the financial institution where the funds are held. These securities primarily include balances in the Company&amp;#8217;s operating and savings accounts. The carrying amount of cash and cash equivalents approximate fair value.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Trade Accounts Receivable &amp;#8211;&lt;/font&gt; The Company records accounts receivable net of allowances for uncollectible accounts and the carrying value approximate fair value due to the short-term nature of the receivables.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Investments &amp;#8211; &lt;/font&gt;The carrying amounts of investments are recorded at fair value. Investments are described further in Note 2 &amp;#8211; &lt;font style="font-style: italic;"&gt;Fair Value Measurements.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Accounts Payable &amp;#8211;&lt;/font&gt; The carrying amounts of accounts payable approximate fair value due to the relatively short period to maturity for these instruments.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Long-Term Financial Liabilities&lt;/font&gt;&lt;font style="font-weight: bold;"&gt; &amp;#8211;&lt;/font&gt; The Comprehensive Amendment Agreement No. 1 (the &amp;#8220;CAA&amp;#8221;) is comprised of a recorded balance at fair value and an off-balance sheet or &amp;#8220;contingent&amp;#8221; obligation associated with the Company&amp;#8217;s acquisition of its &amp;#8220;Rangeview Water Supply&amp;#8221; (as defined in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report). The amount payable is a fixed amount but is repayable only upon the sale of &amp;#8220;Export Water&amp;#8221; (as defined in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets&lt;/font&gt; in Part II, Item 8 of the 2019 Annual Report). Because of the uncertainty of the sale of Export Water, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. The CAA is described further in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Long-Term Obligations and Operating Lease &amp;#8211; Participating Interests in Export Water Supply&lt;/font&gt;.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Notes Receivable &amp;#8211; Related Parties&lt;/font&gt;&lt;font style="font-weight: bold;"&gt; &amp;#8211; &lt;/font&gt;The carrying amounts of the &lt;font style="font-style: italic;"&gt;Notes receivable &amp;#8211; related parties &lt;/font&gt;(including with the Rangeview Metropolitan District (the &amp;#8220;Rangeview District&amp;#8221;) and the Sky Ranch Community Authority Board (the &amp;#8220;CAB&amp;#8221;)) approximate their fair value because the interest rates on the notes approximate market rates.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="font-weight: bold; font-style: italic;"&gt;Off-Balance Sheet Instruments &amp;#8211; &lt;/font&gt;The Company&amp;#8217;s off-balance sheet instruments consist entirely of the contingent portion of the CAA. Because repayment of this portion of the CAA is contingent on the sale of Export Water, which is not reasonably estimable, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. See further discussion in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Long-Term Obligations and Operating Lease &amp;#8211; Participating Interests in Export Water Supply&lt;/font&gt;.&lt;/div&gt;&lt;/div&gt;</pcyo:ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock>
  <!--Increase (Decrease) in Reimbursement Applied to Land Development Inventories-->
  <pcyo:IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories id="Fact_0aedb05a5c3d4e04b66cb6f9f6764162" contextRef="c20190901to20200531" unitRef="U002" decimals="0">4229501</pcyo:IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories>
  <!--Increase (Decrease) in Reimbursement Applied to Land Development Inventories-->
  <pcyo:IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories id="Fact_e0d9008c865e441282eccddef5c983d1" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</pcyo:IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories>
  <!--Increase (Decrease) in Deferred Revenue, Leases-->
  <pcyo:IncreaseDecreaseInDeferredRevenueLeases id="Fact_0801d0a98644404c87b2a7c729ece535" contextRef="c20180901to20190531" unitRef="U002" decimals="0">98722</pcyo:IncreaseDecreaseInDeferredRevenueLeases>
  <!--Increase (Decrease) in Deferred Revenue, Leases-->
  <pcyo:IncreaseDecreaseInDeferredRevenueLeases id="Fact_c5aa5baefdf148dd819f9d9e04837eff" contextRef="c20190901to20200531" unitRef="U002" decimals="0">1400300</pcyo:IncreaseDecreaseInDeferredRevenueLeases>
  <!--Increase (Decrease) in Operating Lease Liabilities-->
  <pcyo:IncreaseDecreaseInOperatingLeaseLiabilities id="Fact_741fc462374a4142b0c64035348474bf" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-2743</pcyo:IncreaseDecreaseInOperatingLeaseLiabilities>
  <!--Increase (Decrease) in Operating Lease Liabilities-->
  <pcyo:IncreaseDecreaseInOperatingLeaseLiabilities id="Fact_cc2778ed7c1b4212b2d66b53b2eb1883" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</pcyo:IncreaseDecreaseInOperatingLeaseLiabilities>
  <!--Increase (Decrease) in Land Development Inventories-->
  <pcyo:IncreaseDecreaseInLandDevelopmentInventories id="Fact_e50a3161ed584b7a969b1137ce67ebb4" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-2575742</pcyo:IncreaseDecreaseInLandDevelopmentInventories>
  <!--Increase (Decrease) in Land Development Inventories-->
  <pcyo:IncreaseDecreaseInLandDevelopmentInventories id="Fact_f04d9ac9e8664f908f2b8b33a3b3085b" contextRef="c20180901to20190531" unitRef="U002" decimals="0">5306880</pcyo:IncreaseDecreaseInLandDevelopmentInventories>
  <!--Interest Income and Other Non-Cash Items-->
  <pcyo:InterestIncomeAndOtherNonCashItems id="Fact_3199850fe7e14198957339ccad91c5e0" contextRef="c20180901to20190531" unitRef="U002" decimals="0">315</pcyo:InterestIncomeAndOtherNonCashItems>
  <!--Interest Income and Other Non-Cash Items-->
  <pcyo:InterestIncomeAndOtherNonCashItems id="Fact_394f6877c7a64c3f8df75227209d53c1" contextRef="c20190901to20200531" unitRef="U002" decimals="0">175</pcyo:InterestIncomeAndOtherNonCashItems>
  <!--Payments to Contingent Liability Holders-->
  <pcyo:PaymentsToContingentLiabilityHolders id="Fact_4c3a8e0bec9842c183bf383b043754e8" contextRef="c20180901to20190531" unitRef="U002" decimals="0">6002</pcyo:PaymentsToContingentLiabilityHolders>
  <!--Payments to Contingent Liability Holders-->
  <pcyo:PaymentsToContingentLiabilityHolders id="Fact_8f0b194b3b094ad491e02a34813ee969" contextRef="c20190901to20200531" unitRef="U002" decimals="0">4198</pcyo:PaymentsToContingentLiabilityHolders>
  <!--Changes in Land Development Inventories Included in Accounts Payable and Accrued Liabilities-->
  <pcyo:ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities id="Fact_1e2420c22adb49f4b7c752e34fa58781" contextRef="c20180901to20190531" unitRef="U002" decimals="0">2191577</pcyo:ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities>
  <!--Changes in Land Development Inventories Included in Accounts Payable and Accrued Liabilities-->
  <pcyo:ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities id="Fact_8d9f983581614e35aab03271cc9493d8" contextRef="c20190901to20200531" unitRef="U002" decimals="0">912110</pcyo:ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities>
  <!--Changes in Investments in Water, Water Systems and Land Included in Accounts Payable and Accrued Liabilities-->
  <pcyo:ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities id="Fact_94fc07c036254f95a95794e390625068" contextRef="c20190901to20200531" unitRef="U002" decimals="0">-897516</pcyo:ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities>
  <!--Changes in Investments in Water, Water Systems and Land Included in Accounts Payable and Accrued Liabilities-->
  <pcyo:ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities id="Fact_d4e57ad2f08f45c0923d239e5b103fc3" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</pcyo:ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities>
  <!--Payments to Acquire Water, Water Systems and Land-->
  <pcyo:PaymentsToAcquireWaterWaterSystemsAndLand id="Fact_305f2bf81f684f7d9704400c2e7f1727" contextRef="c20190901to20200531" unitRef="U002" decimals="0">7302326</pcyo:PaymentsToAcquireWaterWaterSystemsAndLand>
  <!--Payments to Acquire Water, Water Systems and Land-->
  <pcyo:PaymentsToAcquireWaterWaterSystemsAndLand id="Fact_8175d10859784e63a279f4a8e2562c10" contextRef="c20180901to20190531" unitRef="U002" decimals="0">7695968</pcyo:PaymentsToAcquireWaterWaterSystemsAndLand>
  <!--Number of Additional Years for Which Operator May Extend Lease-O and G Lease [Member]-->
  <pcyo:NumberOfAdditionalYearsForWhichOperatorMayExtendLease id="Fact_d0aee60aa3814feabaa360d8fa5d4a69" contextRef="c20190901to20200531_ProductOrServiceAxis_OAndGLeaseMember">P2Y</pcyo:NumberOfAdditionalYearsForWhichOperatorMayExtendLease>
  <!--Deferred Revenue, Revenue Recognized Term-O and G Lease [Member]-->
  <pcyo:DeferredRevenueRevenueRecognizedTerm id="Fact_db5de014722448a5aba755a463982404" contextRef="c20190901to20200531_ProductOrServiceAxis_OAndGLeaseMember">P3Y</pcyo:DeferredRevenueRevenueRecognizedTerm>
  <!--Required Payment from Operator for Extending Right for One Year-O and G Lease [Member]-->
  <pcyo:RequiredPaymentFromOperatorForExtendingRightForOneYear id="Fact_5b026fd258134c62ae71478bf492c204" contextRef="c20200531_ProductOrServiceAxis_OAndGLeaseMember" unitRef="U002" decimals="0">75000</pcyo:RequiredPaymentFromOperatorForExtendingRightForOneYear>
  <!--Maximum Term of Lease-O and G Lease [Member]-->
  <pcyo:MaximumTermOfLease id="Fact_bec0874ac8f749adb35fa39c8cf5ab92" contextRef="c20190901to20200531_ProductOrServiceAxis_OAndGLeaseMember">P5Y</pcyo:MaximumTermOfLease>
  <!--Term for Which Operator May Extend Right-O and G Lease [Member]-->
  <pcyo:TermForWhichOperatorMayExtendRight id="Fact_9ad570db07124e62a4c0a3a5a72e74ec" contextRef="c20190901to20200531_ProductOrServiceAxis_OAndGLeaseMember">P1Y</pcyo:TermForWhichOperatorMayExtendRight>
  <!--Number of Industrial Water Customers-Sky Ranch [Member]-->
  <pcyo:NumberOfIndustrialWaterCustomers id="Fact_a54b47a3c40b40848bb158c12ddf2f81" contextRef="c20190901to20200531_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U013" decimals="INF">1</pcyo:NumberOfIndustrialWaterCustomers>
  <!--Productive Oil Wells Number Of Wells Expected to be Placed in service-->
  <pcyo:ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService id="Fact_a543b6093c064b71982a402d532244e5" contextRef="c20200531" unitRef="U012" decimals="INF">4</pcyo:ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService>
  <!--Schedule of Reimbursable Costs [Table Text Block]-->
  <pcyo:ScheduleOfReimbursableCostsTableTextBlock id="Fact_3ab1bd930932486fa8ee496e2185ffaf" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div&gt;The following table summarizes all reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;As of May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Costs incurred to date&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Payments repaid by&lt;/div&gt;&lt;div&gt;CAB&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"&gt;&lt;div&gt;Net costs incurred to date&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Public Improvements&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;25,431,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;10,505,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;14,926,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Accrued interest&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,052,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,052,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Project management services&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,371,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;1,371,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Construction support activities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;581,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"&gt;&lt;div&gt;581,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 54%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Total reimbursable costs&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;28,437,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;10,505,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;17,932,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</pcyo:ScheduleOfReimbursableCostsTableTextBlock>
  <!--Related Party Estimated Cost-Sky Ranch [Member]-Community Authority Board [Member]-->
  <pcyo:RelatedPartyEstimatedCost id="Fact_02b0a97598514c179fab1526fa066943" contextRef="c20200531_RelatedPartyTransactionAxis_CommunityAuthorityBoardMember_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U002" decimals="0">30000000</pcyo:RelatedPartyEstimatedCost>
  <!--Volume of Water Purchased-Rangeview District [Member]-WISE Partnership [Member]-->
  <pcyo:VolumeOfWaterPurchased id="Fact_f4efdf12d3444605986f4c94a356b150" contextRef="c20190901to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U017" decimals="INF">400</pcyo:VolumeOfWaterPurchased>
  <!--Volume of Water Purchased-WISE Partnership [Member]-Rangeview District [Member]-->
  <pcyo:VolumeOfWaterPurchased id="Fact_fb7eac5cce734b74884d1d4c13b67f7d" contextRef="c20200301to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U017" decimals="INF">0</pcyo:VolumeOfWaterPurchased>
  <!--Volume of Water Purchased-Rangeview District [Member]-WISE Partnership [Member]-->
  <pcyo:VolumeOfWaterPurchased id="Fact_96099be0c8904c41b593c2f24b3a26e0" contextRef="c20191201to20200229_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U017" decimals="INF">400</pcyo:VolumeOfWaterPurchased>
  <!--Notes Receivable, Related Parties, Accrued Interest-->
  <pcyo:NotesReceivableRelatedPartiesAccruedInterest id="Fact_0253cb9c038f4428bc81b947b70fdc20" contextRef="c20200531" unitRef="U002" decimals="0">2700</pcyo:NotesReceivableRelatedPartiesAccruedInterest>
  <!--Notes Receivable, Related Parties, Accrued Interest-Water and Wastewater Services [Member]-Rangeview District [Member]-Notes Receivable [Member]-->
  <pcyo:NotesReceivableRelatedPartiesAccruedInterest id="Fact_08f64f1677f44001889e2c0bf0c3a902" contextRef="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_NotesReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">441200</pcyo:NotesReceivableRelatedPartiesAccruedInterest>
  <!--Notes Receivable, Related Parties, Principal-Notes Receivable [Member]-Rangeview District [Member]-Water and Wastewater Services [Member]-->
  <pcyo:NotesReceivableRelatedPartiesPrincipal id="Fact_5789b294bd36412cbc8fa398c93aec31" contextRef="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_NotesReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">590300</pcyo:NotesReceivableRelatedPartiesPrincipal>
  <!--Notes Receivable, Related Parties, Principal-->
  <pcyo:NotesReceivableRelatedPartiesPrincipal id="Fact_6ab2d5f62e904c00a673705d2e59d499" contextRef="c20200531" unitRef="U002" decimals="0">25500</pcyo:NotesReceivableRelatedPartiesPrincipal>
  <!--Period of financing of Partnership Participation Agreement-Rangeview District [Member]-WISE Partnership [Member]-->
  <pcyo:PeriodOfFinancingOfPartnershipParticipationAgreement id="Fact_736d07b1e7d941d5bf2bb1ce3c388fa5" contextRef="c20190901to20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">P5Y</pcyo:PeriodOfFinancingOfPartnershipParticipationAgreement>
  <!--Related Party, Advances for Improvements, Net of Reimbursed Costs, Included in Land Development Inventories-Community Authority Board [Member]-Sky Ranch [Member]-->
  <pcyo:RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories id="Fact_d35bfab9c3a44ea2819af56f811f41cb" contextRef="c20200531_RelatedPartyTransactionAxis_CommunityAuthorityBoardMember_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U002" decimals="-5">1800000</pcyo:RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories>
  <!--Debt Instrument, Renewal Term-Rangeview District [Member]-Water and Wastewater Services [Member]-Loans Receivable [Member]-->
  <pcyo:DebtInstrumentRenewalTerm id="Fact_6dd7fef37f9b4f3d8c823190c0e8eead" contextRef="c20190901to20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember">P12M</pcyo:DebtInstrumentRenewalTerm>
  <!--Related Party, Advances for Improvements, Net of Reimbursed Costs, Expensed-Sky Ranch [Member]-Community Authority Board [Member]-->
  <pcyo:RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed id="Fact_c9384e71b2e04394a7a6c4a90cffd639" contextRef="c20200531_RelatedPartyTransactionAxis_CommunityAuthorityBoardMember_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U002" decimals="-5">13100000</pcyo:RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed>
  <!--Projected Cost of Participation Agreement-WISE Partnership [Member]-Rangeview District [Member]-->
  <pcyo:ProjectedCostOfParticipationAgreement id="Fact_828d812d0cab45c49093097d573a1981" contextRef="c20200531_RelatedPartyTransactionAxis_WisePartnershipMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="-5">4600000</pcyo:ProjectedCostOfParticipationAgreement>
  <!--Number of Employee Board of Directors-Rangeview District [Member]-Water and Wastewater Services [Member]-->
  <pcyo:NumberOfEmployeeBoardOfDirectors id="Fact_95ebb92cfe6c4f7f9986be2671e0dd5f" contextRef="c20200531_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U020" decimals="INF">3</pcyo:NumberOfEmployeeBoardOfDirectors>
  <!--Related Party, Advances for Improvements, Net of Reimbursed Costs-Sky Ranch [Member]-Community Authority Board [Member]-->
  <pcyo:RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts id="Fact_57f6709a90074a6886052dde9859d3b5" contextRef="c20200531_RelatedPartyTransactionAxis_CommunityAuthorityBoardMember_RelatedPartyTransactionsByRelatedPartyAxis_SkyRanchMember" unitRef="U002" decimals="-5">14900000</pcyo:RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts>
  <!--Number of Independent Board of Directors-Rangeview District [Member]-Water and Wastewater Services [Member]-->
  <pcyo:NumberOfIndependentBoardOfDirectors id="Fact_286abce961ed4ac0ad1f2a4f399a839a" contextRef="c20200531_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U019" decimals="INF">1</pcyo:NumberOfIndependentBoardOfDirectors>
  <!--Loan extended, Maximum Capacity-Rangeview District [Member]-Loans Receivable [Member]-Water and Wastewater Services [Member]-Maximum [Member]-->
  <pcyo:LoanExtendedMaximumCapacity id="Fact_c6d70c9efd524aee9a60e83bc68aae35" contextRef="c20200531_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_LoansReceivableMember_RangeAxis_MaximumMember_RelatedPartyTransactionAxis_WaterAndWastewaterServicesMember_RelatedPartyTransactionsByRelatedPartyAxis_RangeviewDistrictMember" unitRef="U002" decimals="0">250000</pcyo:LoanExtendedMaximumCapacity>
  <!--Payables For Infrastructure Capital Projects-->
  <pcyo:PayablesForInfrastructureCapitalProjects id="Fact_130bad0856b24dc187e3d7911f83ea49" contextRef="c20190831" unitRef="U002" decimals="0">930900</pcyo:PayablesForInfrastructureCapitalProjects>
  <!--Payables For Infrastructure Capital Projects-->
  <pcyo:PayablesForInfrastructureCapitalProjects id="Fact_c5e613e836df4f1c90dbda66b3d27145" contextRef="c20200531" unitRef="U002" decimals="0">142400</pcyo:PayablesForInfrastructureCapitalProjects>
  <!--Reimbursement of Construction Costs, Related Party-->
  <pcyo:ReimbursementOfConstructionCostsRelatedParty id="Fact_3c59bdfe7f604bec8a971cfa6f2d1916" contextRef="c20190301to20190531" unitRef="U002" decimals="0">0</pcyo:ReimbursementOfConstructionCostsRelatedParty>
  <!--Reimbursement of Construction Costs, Related Party-->
  <pcyo:ReimbursementOfConstructionCostsRelatedParty id="Fact_81d4b2c7256e486581910b2ccabb9773" contextRef="c20190901to20200531" unitRef="U002" decimals="0">6275500</pcyo:ReimbursementOfConstructionCostsRelatedParty>
  <!--Reimbursement of Construction Costs, Related Party-->
  <pcyo:ReimbursementOfConstructionCostsRelatedParty id="Fact_8b91b12763c841e8b8c30ab691bdeb11" contextRef="c20200301to20200531" unitRef="U002" decimals="0">0</pcyo:ReimbursementOfConstructionCostsRelatedParty>
  <!--Reimbursement of Construction Costs, Related Party-->
  <pcyo:ReimbursementOfConstructionCostsRelatedParty id="Fact_efdc7c53c06847dd855519f98549e9a2" contextRef="c20180901to20190531" unitRef="U002" decimals="0">0</pcyo:ReimbursementOfConstructionCostsRelatedParty>
  <!--Water Service Operations Expense-->
  <pcyo:WaterServiceOperationsExpense id="Fact_33d78a5fb41c424ebabf4f1b8a96222a" contextRef="c20190301to20190531" unitRef="U002" decimals="0">400495</pcyo:WaterServiceOperationsExpense>
  <!--Water Service Operations Expense-->
  <pcyo:WaterServiceOperationsExpense id="Fact_6ac76a2ee37c4f3890031d866aa2d489" contextRef="c20200301to20200531" unitRef="U002" decimals="0">94934</pcyo:WaterServiceOperationsExpense>
  <!--Water Service Operations Expense-->
  <pcyo:WaterServiceOperationsExpense id="Fact_9ea6d2786e8d4eb49bb3a426ca150a10" contextRef="c20180901to20190531" unitRef="U002" decimals="0">965279</pcyo:WaterServiceOperationsExpense>
  <!--Water Service Operations Expense-->
  <pcyo:WaterServiceOperationsExpense id="Fact_d0537d27a5714314a4231cb4199a9e6a" contextRef="c20190901to20200531" unitRef="U002" decimals="0">556023</pcyo:WaterServiceOperationsExpense>
  <!--Land Development Construction Costs-->
  <pcyo:LandDevelopmentConstructionCosts id="Fact_a3969199ce8442b19835e0bb14534fef" contextRef="c20190301to20190531" unitRef="U002" decimals="0">2588072</pcyo:LandDevelopmentConstructionCosts>
  <!--Land Development Construction Costs-->
  <pcyo:LandDevelopmentConstructionCosts id="Fact_c73351e80d5c4ff0ba4dbe28e86dc4b2" contextRef="c20180901to20190531" unitRef="U002" decimals="0">5715994</pcyo:LandDevelopmentConstructionCosts>
  <!--Land Development Construction Costs-->
  <pcyo:LandDevelopmentConstructionCosts id="Fact_cb5f1d312aa64201a0b84ab3303d0bd5" contextRef="c20200301to20200531" unitRef="U002" decimals="0">555780</pcyo:LandDevelopmentConstructionCosts>
  <!--Land Development Construction Costs-->
  <pcyo:LandDevelopmentConstructionCosts id="Fact_e75ce37f107c4d839abd4c4792f1fbf6" contextRef="c20190901to20200531" unitRef="U002" decimals="0">10436213</pcyo:LandDevelopmentConstructionCosts>
  <!--Wastewater Service Operations Expense-->
  <pcyo:WastewaterServiceOperationsExpense id="Fact_1de6bdce51fc400fb8cf543f18c7a86f" contextRef="c20190901to20200531" unitRef="U002" decimals="0">126479</pcyo:WastewaterServiceOperationsExpense>
  <!--Wastewater Service Operations Expense-->
  <pcyo:WastewaterServiceOperationsExpense id="Fact_1fb52f7c6e584f77a62e34ce48101c22" contextRef="c20180901to20190531" unitRef="U002" decimals="0">21889</pcyo:WastewaterServiceOperationsExpense>
  <!--Wastewater Service Operations Expense-->
  <pcyo:WastewaterServiceOperationsExpense id="Fact_6a1a172e3c88466ea2d083a63b7ddc52" contextRef="c20190301to20190531" unitRef="U002" decimals="0">14512</pcyo:WastewaterServiceOperationsExpense>
  <!--Wastewater Service Operations Expense-->
  <pcyo:WastewaterServiceOperationsExpense id="Fact_e5d97aeff23d43fc8d50ac9b5788ec3c" contextRef="c20200301to20200531" unitRef="U002" decimals="0">62967</pcyo:WastewaterServiceOperationsExpense>
  <!--Other Services Expense-->
  <pcyo:OtherServicesExpense id="Fact_159e0b75f7174dbbb59e9a7e998e9442" contextRef="c20190301to20190531" unitRef="U002" decimals="0">33889</pcyo:OtherServicesExpense>
  <!--Other Services Expense-->
  <pcyo:OtherServicesExpense id="Fact_8d4725379f3d4fdc98ba69372ea6936d" contextRef="c20200301to20200531" unitRef="U002" decimals="0">7104</pcyo:OtherServicesExpense>
  <!--Other Services Expense-->
  <pcyo:OtherServicesExpense id="Fact_a797655c524c4adda412dd46c04100b7" contextRef="c20190901to20200531" unitRef="U002" decimals="0">34554</pcyo:OtherServicesExpense>
  <!--Other Services Expense-->
  <pcyo:OtherServicesExpense id="Fact_ca27b9293c3f4f0eb23d03db1a8e362e" contextRef="c20180901to20190531" unitRef="U002" decimals="0">104162</pcyo:OtherServicesExpense>
  <!--Estimated Annual Effective Income Tax Rate-->
  <pcyo:EstimatedAnnualEffectiveIncomeTaxRate id="Fact_1ffacbb64a8c4110a92c771cb1c8999d" contextRef="c20190901to20200531" unitRef="U008" decimals="2">0.25</pcyo:EstimatedAnnualEffectiveIncomeTaxRate>
  <!--Lessee, Operating Lease, Assets and Liabilities [Table Text Block]-->
  <pcyo:LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock id="Fact_7cc080de258d4917a6af77c3df3e9318" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="color: rgb(0, 0, 0); text-align: justify;"&gt;ROU lease assets and lease liabilities for the Company&amp;#8217;s operating leases were recorded in the consolidated balance sheet as follows:&lt;/div&gt;&lt;div&gt;&lt;font style="color: #000000;"&gt;&lt;/font&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;As of May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Operating leases - right of use assets&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;213,252&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Accounts payable and accrued liabilities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;70,191&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Lease obligations - operating leases, net of current portion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;140,318&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Total lease liability&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;210,509&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Weighted average remaining lease term (in years)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2.7&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Weighted average discount rate&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;6.0&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;%&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</pcyo:LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock>
  <!--Number of Board Members-Non Employee [Member]-->
  <pcyo:NumberOfBoardMembers id="Fact_c2899bbe5dc94fd9bc6bcfab2109a8fc" contextRef="c20200115to20200115_TitleOfIndividualAxis_NonEmployeeMember" unitRef="U019" decimals="INF">6</pcyo:NumberOfBoardMembers>
  <!--Operating Leases Monthly Base Rent-->
  <pcyo:OperatingLeasesMonthlyBaseRent id="Fact_1f9281f4d5694422aeb5f90407e8c037" contextRef="c20190901to20200531" unitRef="U002" decimals="0">6600</pcyo:OperatingLeasesMonthlyBaseRent>
  <!--Percentage of Increase in Primary Base Payment for Operating Lease-->
  <pcyo:PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease id="Fact_fb0f860f8b70482e975198afb87a6053" contextRef="c20190901to20200531" unitRef="U008" decimals="3">0.125</pcyo:PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease>
  <!--Land and Mineral Rights-->
  <pcyo:LandAndMineralRights id="Fact_51763f0f7cf7425981d312d4019cd6e9" contextRef="c20190831" unitRef="U002" decimals="0">5104477</pcyo:LandAndMineralRights>
  <!--Land and Mineral Rights-->
  <pcyo:LandAndMineralRights id="Fact_cc25f43b189f4cf8961bf50fec0371dd" contextRef="c20200531" unitRef="U002" decimals="0">5439290</pcyo:LandAndMineralRights>
  <!--Participating Interests Liability-->
  <pcyo:ParticipatingInterestsLiability id="Fact_11a5989e42254ca79fd92cd06b3990bc" contextRef="c20200531" unitRef="U002" decimals="0">327942</pcyo:ParticipatingInterestsLiability>
  <!--Participating Interests Liability-->
  <pcyo:ParticipatingInterestsLiability id="Fact_fd230a6b6be746a584e7ba7f1393e1ab" contextRef="c20190831" unitRef="U002" decimals="0">332140</pcyo:ParticipatingInterestsLiability>
  <!--Participating Interests Liability-->
  <pcyo:ParticipatingInterestsLiability id="Fact_7cef77b858fa426ab13145496725f35e" contextRef="c19960410" unitRef="U002" decimals="0">11090600</pcyo:ParticipatingInterestsLiability>
  <!--Accrued Liabilities excluding related party, Current-->
  <pcyo:AccruedLiabilitiesExcludingRelatedPartyCurrent id="Fact_201216fa5d1d4ff4a938bbd592e50648" contextRef="c20200531" unitRef="U002" decimals="0">643709</pcyo:AccruedLiabilitiesExcludingRelatedPartyCurrent>
  <!--Accrued Liabilities excluding related party, Current-->
  <pcyo:AccruedLiabilitiesExcludingRelatedPartyCurrent id="Fact_2697d3cdcef845b39a8d293a58bfd739" contextRef="c20190831" unitRef="U002" decimals="0">1097922</pcyo:AccruedLiabilitiesExcludingRelatedPartyCurrent>
  <!--Long-Term Obligations and Operating Lease Disclosure [Text Block]-->
  <pcyo:LongTermObligationsAndOperatingLeaseDisclosureTextBlock id="Fact_d51ee4b648864b4a8215bebc9e3215ac" contextRef="c20190901to20200531">&lt;div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;NOTE 4 &amp;#8211; LONG-TERM OBLIGATIONS AND OPERATING LEASE&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Participating Interests in Export Water Supply is an obligation of the Company that has no scheduled maturity date. Therefore, maturity of this liability is not disclosed in tabular format but is described below.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Participating Interests in Export Water Supply&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company acquired its Rangeview Water Supply through various amended agreements entered into in the early 1990s. The acquisition was finalized with the signing of the CAA in 1996. Upon entering into the CAA, the Company recorded an initial liability of $11.1 million, which represented the cash the Company received from the participating interest holders that was used to purchase the Company&amp;#8217;s Export Water (described in greater detail in Note 4 &amp;#8211; &lt;font style="font-style: italic;"&gt;Water and Land Assets &lt;/font&gt;in Part II, Item 8 of the 2019 Annual Report). The Company agreed to remit a total of $31.8 million of proceeds received from the sale of Export Water to the participating interest holders in return for their initial $11.1 million investment. The obligation for the $11.1 million was recorded as debt, and the remaining $20.7 million contingent liability was not reflected on the Company&amp;#8217;s consolidated balance sheet because the obligation to pay this is contingent on the sale of Export Water, the amounts and timing of which are not reasonably determinable.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The CAA obligation is non-interest bearing, and if the Export Water is not sold, the parties to the CAA have no recourse against the Company. If the Company does not sell the Export Water, the holders of the Series B preferred stock of the Company are also not entitled to payment of any dividend and have no contractual recourse against the Company.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;As the proceeds from the sale of Export Water are received and the amounts are remitted to the external CAA holders, the Company allocates a ratable percentage of this payment to the principal portion (the Participating Interests in Export Water Supply&lt;font style="font-style: italic;"&gt;&amp;#160;&lt;/font&gt;liability account), with the balance of the payment being charged to the contingent obligation portion. Because the original recorded liability, which was $11.1 million, was 35% of the original total liability of $31.8 million, approximately 35% of each payment remitted to the CAA holders is allocated to the recorded liability account. The remaining portion of each payment, or approximately 65%, is allocated to the contingent obligation, which is recorded on a net revenue basis.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;From time to time, the Company reacquired various portions of the CAA obligations, which retained their original priority, including the Land Board&amp;#8217;s CAA interest which was assigned and relinquished to the Company in 2014. The Company did not make any CAA acquisitions during the three and nine months ended May 31, 2020 and 2019.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company is currently allocated 88.105% of the total proceeds from the sale of Export Water after payment of the Land Board royalty. As a result of the acquisitions and consideration from cumulative sales of Export Water as detailed in the table below, the remaining potential third-party obligation at May 31, 2020, is less than $1.0 million.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Export&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Water&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Proceeds&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Received&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Initial Export&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Water&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Proceeds to&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Pure Cycle&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Total&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Potential&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Third-Party&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Obligation&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Participating&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Interests&lt;/div&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Liability&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;Contingency&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Original balances&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;218,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;31,807,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;11,090,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;20,717,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;"&gt;Activity from inception until August 31, 2019:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Acquisitions&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;28,042,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(28,042,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(9,790,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(18,252,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Relinquishment&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;&amp;#8212;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;2,386,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(2,386,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(832,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(1,554,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Option payments - Sky Ranch and The Hills at Sky Ranch&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;110,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(42,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(68,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(23,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;(44,300&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Arapahoe County tap fees&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;533,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(373,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(159,900&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(55,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;(104,100&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Export Water sale payments&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;903,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(740,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(163,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(56,700&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;(106,500&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance at August 31, 2019&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;1,547,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;29,491,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;987,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;332,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;655,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;"&gt;Activity for the nine months ended May 31, 2020:&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Export Water sale payments&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;101,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(89,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(12,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(4,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;(7,800&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;)&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Balance at May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;1,648,200&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;29,402,400&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;975,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;328,000&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;647,600&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The CAA includes contractually established priorities which call for payments to CAA holders in order of their priority. This means that the first payees receive their full payment before the next priority level receives any payment and so on until full repayment. Of the next approximately $6.4 million of Export Water payouts, which based on current payout levels would occur over several years, the Company will receive approximately $5.6 million of revenue. Thereafter, the Company will be entitled to all but $220,000 of the proceeds from the sale of Export Water after deduction of the Land Board royalty.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;WISE Partnership&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;The Company, through the Rangeview District, entered into the Amended and Restated WISE Partnership &amp;#8211; Water Delivery Agreement, dated December 31, 2013 (the &amp;#8220;WISE Partnership Agreement&amp;#8221;), among the City and County of Denver acting through its Board of Water Commissioners (&amp;#8220;Denver Water&amp;#8221;), the City of Aurora acting by and through its Utility Enterprise (&amp;#8220;Aurora Water&amp;#8221;), and the South Metro WISE Authority (&amp;#8220;SMWA&amp;#8221;). The SMWA was formed by the Rangeview District and nine other governmental or quasi-governmental water providers pursuant to the South Metro WISE Authority Formation and Organizational Intergovernmental Agreement, dated December 31, 2013 (the &amp;#8220;SM IGA&amp;#8221;), to enable the members of SMWA to participate in the regional water supply project known as the Water Infrastructure Supply Efficiency partnership (&amp;#8220;WISE&amp;#8221;) created by the WISE Partnership Agreement. The SM IGA specifies each member&amp;#8217;s pro rata share of WISE and the members&amp;#8217; rights and obligations with respect to WISE. The WISE Partnership Agreement provides for the purchase of certain infrastructure (i.e., pipelines, water storage facilities, water treatment facilities, and other appurtenant facilities) to deliver water to and among the 10 members of the SMWA, Denver Water and Aurora Water.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;Pursuant to the terms of the Rangeview/Pure Cycle WISE Project Financing Agreement (the &amp;#8220;WISE Financing Agreement&amp;#8221;) between the Company and the Rangeview District, the Company has an agreement to fund the Rangeview District&amp;#8217;s participation in WISE effective as of December 22, 2014. During the three and nine months ended May 31, 2020, the Company through the Rangeview District, purchased an additional 0 and 400 acre feet of WISE water for $0 and $582,200, respectively. The Company&amp;#8217;s cost of funding the Rangeview District&amp;#8217;s purchase of its share of existing infrastructure and future infrastructure for WISE and funding operations and water deliveries related to WISE is projected to be approximately $4.6 million over the next five years. See further discussion in Note 6 &lt;font style="font-weight: bold;"&gt;&amp;#8211;&lt;/font&gt;&lt;font style="font-style: italic;"&gt; Related Party Transactions.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify; font-weight: bold;"&gt;&lt;u&gt;Lease Commitments&lt;/u&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="color: rgb(0, 0, 0);"&gt;Operating lease expense is generally recognized evenly over the term of the lease. &lt;/font&gt;Effective as of February 2018, the Company entered into an operating lease for 11,393 square feet of office and warehouse space in Watkins, Colorado. The lease has a three-year term with payments of $6,600 per month and an option to extend the primary lease term for a two-year period at a rate equal to a 12.5% increase over the primary base payments.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="color: rgb(0, 0, 0);"&gt;The Company did not enter into any new leases in the three or nine months ended May 31, 2020. Rent expense consisted of operating lease expense of $21,300 and $63,900 for the three and nine months ended May 31, 2020, respectively. There was no sublease rental income for the three or nine months ended May 31, 2020. The Company paid $19,800 and $59,500 against &lt;/font&gt;&lt;font style="font-style: italic; color: rgb(0, 0, 0);"&gt;Lease obligations &amp;#8212; operating leases&lt;/font&gt;&lt;font style="color: rgb(0, 0, 0);"&gt; during the three and nine months ended May 31, 2020, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="color: rgb(0, 0, 0); text-align: justify;"&gt;Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheet. For lease agreements entered into or reassessed in the future, the Company will be required to combine the lease and non-lease components in determining the lease liabilities and right-of-use (&amp;#8220;ROU&amp;#8221;) assets.&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="text-align: justify;"&gt;&lt;font style="color: rgb(0, 0, 0);"&gt;The Company&amp;#8217;s lease agreements generally do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at lease commencement date for purposes of determining the present value of lease payments. The Company used the incremental borrowing rate of 6% on August 31, 2019, for all leases that commenced prior to that date.&lt;/font&gt;&amp;#160;&lt;font style="color: rgb(0, 0, 0);"&gt;The Company elected the hindsight practical expedient to determine the lease term for existing leases, which resulted in the lengthening of the lease term related to the Company&amp;#8217;s office lease.&lt;/font&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="color: rgb(0, 0, 0); text-align: justify;"&gt;ROU lease assets and lease liabilities for the Company&amp;#8217;s operating leases were recorded in the consolidated balance sheet as follows:&lt;/div&gt;&lt;div&gt;&lt;font style="color: #000000;"&gt;&lt;/font&gt;&lt;br /&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;"&gt;&lt;div style="text-align: center; font-weight: bold;"&gt;As of May 31, 2020&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Operating leases - right of use assets&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;213,252&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Accounts payable and accrued liabilities&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;70,191&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Lease obligations - operating leases, net of current portion&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"&gt;&lt;div&gt;140,318&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 16.2pt;"&gt;Total lease liability&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;$&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"&gt;&lt;div&gt;210,509&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Weighted average remaining lease term (in years)&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"&gt;&lt;div&gt;2.7&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"&gt;&lt;div style="text-indent: -7.2pt; margin-left: 7.2pt;"&gt;Weighted average discount rate&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"&gt;&lt;div&gt;6.0&lt;/div&gt;&lt;/td&gt;&lt;td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"&gt;&lt;div&gt;%&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</pcyo:LongTermObligationsAndOperatingLeaseDisclosureTextBlock>
  <!--Number of Customers-Land Development Activities [Member]-Revenue [Member]-->
  <pcyo:NumberOfCustomers id="Fact_1788f343cbc64c098a6b537d389d35ce" contextRef="c20200301to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U013" decimals="INF">2</pcyo:NumberOfCustomers>
  <!--Number of Customers-Revenue [Member]-Land Development Activities [Member]-->
  <pcyo:NumberOfCustomers id="Fact_35f3f44fda8c4d6591f110612c488b7d" contextRef="c20180901to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U013" decimals="INF">3</pcyo:NumberOfCustomers>
  <!--Number of Customers-Revenue [Member]-Land Development Activities [Member]-->
  <pcyo:NumberOfCustomers id="Fact_37f13e81a203499182f25d4167d92fdf" contextRef="c20190301to20190531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U013" decimals="INF">3</pcyo:NumberOfCustomers>
  <!--Number of Customers-Land Development Activities [Member]-Revenue [Member]-->
  <pcyo:NumberOfCustomers id="Fact_5828877aaaa248bbae615b432c9b8316" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_StatementBusinessSegmentsAxis_LandDevelopmentActivitiesMember" unitRef="U013" decimals="INF">3</pcyo:NumberOfCustomers>
  <!--Number of Customers-Accounts Receivable [Member]-One Other Customer [Member]-->
  <pcyo:NumberOfCustomers id="Fact_7ceb3b622a5040f39cdca10dcc3ab46b" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_OneOtherCustomerMember" unitRef="U013" decimals="INF">1</pcyo:NumberOfCustomers>
  <!--Number of Customers-Wholesale Water and Wastewater Services [Member]-Revenue [Member]-Rangeview District [Member]-->
  <pcyo:NumberOfCustomers id="Fact_a9d7e00513aa4a628e881eac9ce995b9" contextRef="c20190901to20200531_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember_MajorCustomersAxis_RangeviewDistrictMember_StatementBusinessSegmentsAxis_WholesaleWaterAndWastewaterServicesMember" unitRef="U013" decimals="INF">3</pcyo:NumberOfCustomers>
  <!--Number of Customers-One Other Customer [Member]-Accounts Receivable [Member]-->
  <pcyo:NumberOfCustomers id="Fact_df7ef44e5cc14d99a236b2d13ecfd7eb" contextRef="c20180901to20190831_ConcentrationRiskByBenchmarkAxis_AccountsReceivableMember_MajorCustomersAxis_OneOtherCustomerMember" unitRef="U013" decimals="INF">1</pcyo:NumberOfCustomers>
  <link:footnoteLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:footnote xlink:label="Footnote-Item-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Amount is less than $0.01 per share</link:footnote>
    <link:loc xlink:href="#Fact_1669ecddc3694c73ad481d7af370818b" xlink:label="Fact_1669ecddc3694c73ad481d7af370818b_lbl" xlink:type="locator" />
    <link:footnoteArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact_1669ecddc3694c73ad481d7af370818b_lbl" xlink:to="Footnote-Item-1" xlink:type="arc" />
    <link:loc xlink:href="#Fact_e16a998751fa475dbccb1df3c0a493f3" xlink:label="Fact_e16a998751fa475dbccb1df3c0a493f3_lbl" xlink:type="locator" />
    <link:footnoteArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact_e16a998751fa475dbccb1df3c0a493f3_lbl" xlink:to="Footnote-Item-1" xlink:type="arc" />
  </link:footnoteLink>
</xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>8
<FILENAME>pcyo-20200531.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 7.0.0.0 Broadridge-->
<xs:schema targetNamespace="http://purecyclewater.com/20200531" elementFormDefault="qualified" xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:pcyo="http://purecyclewater.com/20200531" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:us-types="http://fasb.org/us-types/2020-01-31" xmlns:srt-types="http://fasb.org/srt-types/2020-01-31" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31">
  <xs:annotation>
    <xs:appinfo>
      <link:linkbaseRef xlink:type="simple" xlink:href="pcyo-20200531_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="pcyo-20200531_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="pcyo-20200531_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="pcyo-20200531_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:roleType roleURI="http://purecyclewater.com/role/DocumentAndEntityInformation" id="DocumentAndEntityInformation">
        <link:definition>000100 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited" id="ConsolidatedBalanceSheetsUnaudited">
        <link:definition>010000 - Statement - CONSOLIDATED BALANCE SHEETS (unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ConsolidatedBalanceSheetsParentheticalUnaudited" id="ConsolidatedBalanceSheetsParentheticalUnaudited">
        <!--Parent Role: CONSOLIDATED BALANCE SHEETS (unaudited)-->
        <link:definition>010100 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) (unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited" id="ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited">
        <link:definition>020000 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ConsolidatedStatementOfShareholdersEquityUnaudited" id="ConsolidatedStatementOfShareholdersEquityUnaudited">
        <link:definition>030000 - Statement - CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited" id="ConsolidatedStatementsOfCashFlowsUnaudited">
        <link:definition>040000 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformation" id="PresentationOfInterimInformation">
        <link:definition>060100 - Disclosure - PRESENTATION OF INTERIM INFORMATION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/FairValueMeasurements" id="FairValueMeasurements">
        <link:definition>060200 - Disclosure - FAIR VALUE MEASUREMENTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/WaterAndLandAssets" id="WaterAndLandAssets">
        <link:definition>060300 - Disclosure - WATER AND LAND ASSETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLease" id="LongtermObligationsAndOperatingLease">
        <link:definition>060400 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ShareholdersEquity" id="ShareholdersEquity">
        <link:definition>060500 - Disclosure - SHAREHOLDERS' EQUITY</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/RelatedPartyTransactions" id="RelatedPartyTransactions">
        <link:definition>060600 - Disclosure - RELATED PARTY TRANSACTIONS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/SignificantCustomers" id="SignificantCustomers">
        <link:definition>060700 - Disclosure - SIGNIFICANT CUSTOMERS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/AccruedLiabilities" id="AccruedLiabilities">
        <link:definition>060800 - Disclosure - ACCRUED LIABILITIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/CommitmentsAndContingencies" id="CommitmentsAndContingencies">
        <link:definition>060900 - Disclosure - COMMITMENTS AND CONTINGENCIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/SegmentInformation" id="SegmentInformation">
        <link:definition>061000 - Disclosure - SEGMENT INFORMATION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/IncomeTaxes" id="IncomeTaxes">
        <link:definition>061100 - Disclosure - INCOME TAXES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationPolicies" id="PresentationOfInterimInformationPolicies">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>070100 - Disclosure - PRESENTATION OF INTERIM INFORMATION (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationTables" id="PresentationOfInterimInformationTables">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>080100 - Disclosure - PRESENTATION OF INTERIM INFORMATION (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/FairValueMeasurementsTables" id="FairValueMeasurementsTables">
        <!--Parent Role: FAIR VALUE MEASUREMENTS-->
        <link:definition>080200 - Disclosure - FAIR VALUE MEASUREMENTS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/WaterAndLandAssetsTables" id="WaterAndLandAssetsTables">
        <!--Parent Role: WATER AND LAND ASSETS-->
        <link:definition>080300 - Disclosure - WATER AND LAND ASSETS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseTables" id="LongtermObligationsAndOperatingLeaseTables">
        <!--Parent Role: LONG-TERM OBLIGATIONS AND OPERATING LEASE-->
        <link:definition>080400 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ShareholdersEquityTables" id="ShareholdersEquityTables">
        <!--Parent Role: SHAREHOLDERS' EQUITY-->
        <link:definition>080500 - Disclosure - SHAREHOLDERS' EQUITY (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/SegmentInformationTables" id="SegmentInformationTables">
        <!--Parent Role: SEGMENT INFORMATION-->
        <link:definition>081000 - Disclosure - SEGMENT INFORMATION (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/IncomeTaxesTables" id="IncomeTaxesTables">
        <!--Parent Role: INCOME TAXES-->
        <link:definition>081100 - Disclosure - INCOME TAXES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationCaresActDetails" id="PresentationOfInterimInformationCaresActDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090100 - Disclosure - PRESENTATION OF INTERIM INFORMATION, CARES Act (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationLandDevelopmentInventoriesDetails" id="PresentationOfInterimInformationLandDevelopmentInventoriesDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090102 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Land Development Inventories (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationInvestmentsDetails" id="PresentationOfInterimInformationInvestmentsDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090104 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Investments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationRevenueRecognitionDetails" id="PresentationOfInterimInformationRevenueRecognitionDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090106 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Revenue Recognition (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails" id="PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090108 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Reimbursable Costs Incurred to Date (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails" id="PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090110 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Changes in Contract Asset and Deferred Revenue (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationOilAndGasLeasePaymentsDetails" id="PresentationOfInterimInformationOilAndGasLeasePaymentsDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090112 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Oil and Gas Lease Payments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationDeferredRevenueDetails" id="PresentationOfInterimInformationDeferredRevenueDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090114 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Deferred Revenue (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails" id="PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090116 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationSharebasedCompensationDetails" id="PresentationOfInterimInformationSharebasedCompensationDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090118 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Share-Based Compensation (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationIncomeTaxesDetails" id="PresentationOfInterimInformationIncomeTaxesDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090120 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Income Taxes (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationEarningsPerCommonShareDetails" id="PresentationOfInterimInformationEarningsPerCommonShareDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090122 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Earnings per Common Share (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails" id="PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails">
        <!--Parent Role: PRESENTATION OF INTERIM INFORMATION-->
        <link:definition>090124 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Recently Issued Accounting Pronouncements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/FairValueMeasurementsDetails" id="FairValueMeasurementsDetails">
        <!--Parent Role: FAIR VALUE MEASUREMENTS-->
        <link:definition>090200 - Disclosure - FAIR VALUE MEASUREMENTS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/WaterAndLandAssetsDetails" id="WaterAndLandAssetsDetails">
        <!--Parent Role: WATER AND LAND ASSETS-->
        <link:definition>090300 - Disclosure - WATER AND LAND ASSETS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLongtermObligationsDetails" id="LongtermObligationsAndOperatingLeaseLongtermObligationsDetails">
        <!--Parent Role: LONG-TERM OBLIGATIONS AND OPERATING LEASE-->
        <link:definition>090400 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE, Long-Term Obligations (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" id="LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails">
        <!--Parent Role: LONG-TERM OBLIGATIONS AND OPERATING LEASE-->
        <link:definition>090402 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE, Lease Commitments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ShareholdersEquityEquityCompensationPlanDetails" id="ShareholdersEquityEquityCompensationPlanDetails">
        <!--Parent Role: SHAREHOLDERS' EQUITY-->
        <link:definition>090500 - Disclosure - SHAREHOLDERS' EQUITY, Equity Compensation Plan (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails" id="ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails">
        <!--Parent Role: SHAREHOLDERS' EQUITY-->
        <link:definition>090502 - Disclosure - SHAREHOLDERS' EQUITY, Combined Activity and Value of Non-vested Options (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/RelatedPartyTransactionsDetails" id="RelatedPartyTransactionsDetails">
        <!--Parent Role: RELATED PARTY TRANSACTIONS-->
        <link:definition>090600 - Disclosure - RELATED PARTY TRANSACTIONS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/SignificantCustomersDetails" id="SignificantCustomersDetails">
        <!--Parent Role: SIGNIFICANT CUSTOMERS-->
        <link:definition>090700 - Disclosure - SIGNIFICANT CUSTOMERS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/AccruedLiabilitiesDetails" id="AccruedLiabilitiesDetails">
        <!--Parent Role: ACCRUED LIABILITIES-->
        <link:definition>090800 - Disclosure - ACCRUED LIABILITIES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/SegmentInformationRevenueBySegmentsDetails" id="SegmentInformationRevenueBySegmentsDetails">
        <!--Parent Role: SEGMENT INFORMATION-->
        <link:definition>091000 - Disclosure - SEGMENT INFORMATION, Revenue by Segments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails" id="SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails">
        <!--Parent Role: SEGMENT INFORMATION-->
        <link:definition>091002 - Disclosure - SEGMENT REPORTING, Wholesale Water and Wastewater Services and Land Development Pretax Income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/SegmentReportingCorporateAssetsDetails" id="SegmentReportingCorporateAssetsDetails">
        <!--Parent Role: SEGMENT INFORMATION-->
        <link:definition>091004 - Disclosure - SEGMENT REPORTING, Corporate Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://purecyclewater.com/role/IncomeTaxesDetails" id="IncomeTaxesDetails">
        <!--Parent Role: INCOME TAXES-->
        <link:definition>091100 - Disclosure - INCOME TAXES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xs:appinfo>
  </xs:annotation>
  <xs:import namespace="http://fasb.org/us-gaap/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/dei/2019-01-31" schemaLocation="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/country/2020-01-31" schemaLocation="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/currency/2020-01-31" schemaLocation="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/exch/2020-01-31" schemaLocation="https://xbrl.sec.gov/exch/2020/exch-2020-01-31.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/naics/2017-01-31" schemaLocation="https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/sic/2020-01-31" schemaLocation="https://xbrl.sec.gov/sic/2020/sic-2020-01-31.xsd" />
  <xs:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
  <xs:import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/stpr/2018-01-31" schemaLocation="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd" />
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xs:import namespace="http://www.xbrl.org/2004/ref" schemaLocation="http://www.xbrl.org/2004/ref-2004-08-10.xsd" />
  <xs:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xs:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
  <xs:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
  <xs:import namespace="http://fasb.org/us-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd" />
  <xs:import namespace="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" schemaLocation="http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd" />
  <xs:import namespace="http://fasb.org/srt/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd" />
  <xs:import namespace="http://fasb.org/srt-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd" />
  <xs:element name="CustomerOneMember" id="pcyo_CustomerOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="CustomerThreeMember" id="pcyo_CustomerThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WholesaleWaterAndWastewaterServicesMember" id="pcyo_WholesaleWaterAndWastewaterServicesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="LandDevelopmentActivitiesMember" id="pcyo_LandDevelopmentActivitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="CustomerTwoMember" id="pcyo_CustomerTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="RangeviewDistrictMember" id="pcyo_RangeviewDistrictMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="SkyRanchCommunityDevelopmentMember" id="pcyo_SkyRanchCommunityDevelopmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="RidgeviewYouthServicesCenterMember" id="pcyo_RidgeviewYouthServicesCenterMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ElbertHighway86CommercialDistrictMember" id="pcyo_ElbertHighway86CommercialDistrictMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ConcentrationRiskPercentageAbstract" id="pcyo_ConcentrationRiskPercentageAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="NumberOfCustomers" id="pcyo_NumberOfCustomers" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="OneOtherCustomerMember" id="pcyo_OneOtherCustomerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="LongTermObligationsAndOperatingLeaseAbstract" id="pcyo_LongTermObligationsAndOperatingLeaseAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" id="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="AccruedLiabilitiesExcludingRelatedPartyCurrent" id="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" />
  <xs:element name="ParticipatingInterestsLiability" id="pcyo_ParticipatingInterestsLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" />
  <xs:element name="LandAndMineralRights" id="pcyo_LandAndMineralRights" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" id="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="OperatingLeasesMonthlyBaseRent" id="pcyo_OperatingLeasesMonthlyBaseRent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="IncentivePlan2004AndEquityPlan2014Member" id="pcyo_IncentivePlan2004AndEquityPlan2014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="EquityIncentivePlan2014Member" id="pcyo_EquityIncentivePlan2014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="SeniorManagementMember" id="pcyo_SeniorManagementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="EmployeeMember" id="pcyo_EmployeeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="NonEmployeeMember" id="pcyo_NonEmployeeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="NumberOfBoardMembers" id="pcyo_NumberOfBoardMembers" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" id="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="NetOperatingLossCarryforwardsAbstract" id="pcyo_NetOperatingLossCarryforwardsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="EstimatedAnnualEffectiveIncomeTaxRate" id="pcyo_EstimatedAnnualEffectiveIncomeTaxRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="MeteredWaterUsageMember" id="pcyo_MeteredWaterUsageMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="OtherServicesExpense" id="pcyo_OtherServicesExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="WastewaterServiceOperationsExpense" id="pcyo_WastewaterServiceOperationsExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="LandDevelopmentConstructionCosts" id="pcyo_LandDevelopmentConstructionCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="WastewaterTreatmentFeesMember" id="pcyo_WastewaterTreatmentFeesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WaterAndWastewaterTapFeesMember" id="pcyo_WaterAndWastewaterTapFeesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WaterServiceOperationsExpense" id="pcyo_WaterServiceOperationsExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="LotSalesMember" id="pcyo_LotSalesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ReimbursementOfConstructionCostsRelatedParty" id="pcyo_ReimbursementOfConstructionCostsRelatedParty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="MeteredWaterUsageOilAndGasMember" id="pcyo_MeteredWaterUsageOilAndGasMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="PayablesForInfrastructureCapitalProjects" id="pcyo_PayablesForInfrastructureCapitalProjects" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" />
  <xs:element name="WaterAndWastewaterServicesMember" id="pcyo_WaterAndWastewaterServicesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WisePartnershipMember" id="pcyo_WisePartnershipMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="SkyRanchMember" id="pcyo_SkyRanchMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="LoanExtendedMaximumCapacity" id="pcyo_LoanExtendedMaximumCapacity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="NumberOfIndependentBoardOfDirectors" id="pcyo_NumberOfIndependentBoardOfDirectors" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="NumberOfEmployeeBoardOfDirectors" id="pcyo_NumberOfEmployeeBoardOfDirectors" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="ProjectedCostOfParticipationAgreement" id="pcyo_ProjectedCostOfParticipationAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" />
  <xs:element name="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="DebtInstrumentRenewalTerm" id="pcyo_DebtInstrumentRenewalTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="PeriodOfFinancingOfPartnershipParticipationAgreement" id="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="NotesReceivableRelatedPartiesPrincipal" id="pcyo_NotesReceivableRelatedPartiesPrincipal" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="NotesReceivableRelatedPartiesAccruedInterest" id="pcyo_NotesReceivableRelatedPartiesAccruedInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="VolumeOfWaterPurchased" id="pcyo_VolumeOfWaterPurchased" type="num:volumeItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="RelatedPartyEstimatedCost" id="pcyo_RelatedPartyEstimatedCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="CommunityAuthorityBoardMember" id="pcyo_CommunityAuthorityBoardMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="FacilitiesFundingAndAcquisitionAgreementMember" id="pcyo_FacilitiesFundingAndAcquisitionAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ScheduleOfReimbursableCostsTableTextBlock" id="pcyo_ScheduleOfReimbursableCostsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="PaycheckProtectionProgramLoanMember" id="pcyo_PaycheckProtectionProgramLoanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="OilAndGasLeasePaymentsAbstract" id="pcyo_OilAndGasLeasePaymentsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" id="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="OAndGLeaseMember" id="pcyo_OAndGLeaseMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="NumberOfIndustrialWaterCustomers" id="pcyo_NumberOfIndustrialWaterCustomers" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="LandAbstract" id="pcyo_LandAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="TermForWhichOperatorMayExtendRight" id="pcyo_TermForWhichOperatorMayExtendRight" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="MaximumTermOfLease" id="pcyo_MaximumTermOfLease" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="RequiredPaymentFromOperatorForExtendingRightForOneYear" id="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="DeferredRevenueRevenueRecognizedTerm" id="pcyo_DeferredRevenueRevenueRecognizedTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" id="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="BisonOilAndGasLlpMember" id="pcyo_BisonOilAndGasLlpMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="PaymentsToAcquireWaterWaterSystemsAndLand" id="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" id="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" id="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="PaymentsToContingentLiabilityHolders" id="pcyo_PaymentsToContingentLiabilityHolders" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="InterestIncomeAndOtherNonCashItems" id="pcyo_InterestIncomeAndOtherNonCashItems" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="IncreaseDecreaseInLandDevelopmentInventories" id="pcyo_IncreaseDecreaseInLandDevelopmentInventories" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="IncreaseDecreaseInOperatingLeaseLiabilities" id="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="IncreaseDecreaseInDeferredRevenueLeases" id="pcyo_IncreaseDecreaseInDeferredRevenueLeases" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" id="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" id="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" id="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="RoyaltyAndOtherObligationsPolicyTextBlock" id="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="DeferredRevenueFromContractWithCustomerPolicyTextBlock" id="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" id="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="ContractAssetPolicyTextBlock" id="pcyo_ContractAssetPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="LandDevelopmentInventoriesPolicyTextBlock" id="pcyo_LandDevelopmentInventoriesPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="ConstructionSupportActivitiesMember" id="pcyo_ConstructionSupportActivitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="AccruedInterestMember" id="pcyo_AccruedInterestMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="PublicImprovementsMember" id="pcyo_PublicImprovementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ReimbursableCostsNetAbstract" id="pcyo_ReimbursableCostsNetAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ReimbursableCostGross" id="pcyo_ReimbursableCostGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="PaymentsRepaidByCommunityAuthorityBoard" id="pcyo_PaymentsRepaidByCommunityAuthorityBoard" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="ReimbursableCostNet" id="pcyo_ReimbursableCostNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="ProjectManagementServicesMember" id="pcyo_ProjectManagementServicesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="NumberOfRevenueSources" id="pcyo_NumberOfRevenueSources" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="PercentageOfWaterUsedForOilAndGasExploration" id="pcyo_PercentageOfWaterUsedForOilAndGasExploration" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="NumberOfBusinessLines" id="pcyo_NumberOfBusinessLines" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="WaterTapFeeMember" id="pcyo_WaterTapFeeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ConsultingFeesMember" id="pcyo_ConsultingFeesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" id="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="LotSalesFirstFormatMember" id="pcyo_LotSalesFirstFormatMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="SpecialFacilityFundingRecognizedMember" id="pcyo_SpecialFacilityFundingRecognizedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WastewaterTapFeeMember" id="pcyo_WastewaterTapFeeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" id="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ProjectManagementServicesAccruedReimbursableAmount" id="pcyo_ProjectManagementServicesAccruedReimbursableAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="NumberOfServiceAgreementsProjects" id="pcyo_NumberOfServiceAgreementsProjects" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="ConstructionSupportAmountInvoiced" id="pcyo_ConstructionSupportAmountInvoiced" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="DeferredInterestIncome" id="pcyo_DeferredInterestIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" />
  <xs:element name="ExpectedDeliveryPeriodForLotsSold" id="pcyo_ExpectedDeliveryPeriodForLotsSold" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="NumberOfHomeBuilders" id="pcyo_NumberOfHomeBuilders" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" id="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="NumberOfFinishedLotsSold" id="pcyo_NumberOfFinishedLotsSold" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="WaterDeliveredToCustomers" id="pcyo_WaterDeliveredToCustomers" type="num:volumeItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="NumberOfPlattedLotsSold" id="pcyo_NumberOfPlattedLotsSold" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="LotSalesSecondFormatMember" id="pcyo_LotSalesSecondFormatMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" id="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="DeferredTaxImpactOnIncomeTaxProvision" id="pcyo_DeferredTaxImpactOnIncomeTaxProvision" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" />
  <xs:element name="ChangesInContractAssetAbstract" id="pcyo_ChangesInContractAssetAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="OilAndGasLeasesAndWaterSalesPaymentMember" id="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ChangesInDeferredRevenueAbstract" id="pcyo_ChangesInDeferredRevenueAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ContractWithCustomerDeferralOfRevenue" id="pcyo_ContractWithCustomerDeferralOfRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="NumberOfUnsoldRealEstateProperties" id="pcyo_NumberOfUnsoldRealEstateProperties" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="ContractWithCustomerAssetRecognitionOfContractAsset" id="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="RangeviewWaterSystemMember" id="pcyo_RangeviewWaterSystemMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="SkyRanchPipelineMember" id="pcyo_SkyRanchPipelineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="SkyRanchWaterRightsAndOtherCostsMember" id="pcyo_SkyRanchWaterRightsAndOtherCostsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="RangeviewWaterSupplyMember" id="pcyo_RangeviewWaterSupplyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="LostCreekWaterSupplyMember" id="pcyo_LostCreekWaterSupplyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WildPointeServiceRightsMember" id="pcyo_WildPointeServiceRightsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="WaterSupplyOtherMember" id="pcyo_WaterSupplyOtherMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="FairgroundsWaterAndWaterSystemMember" id="pcyo_FairgroundsWaterAndWaterSystemMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="TotalPotentialThirdPartyObligationRollForward" id="pcyo_TotalPotentialThirdPartyObligationRollForward" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" id="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="TotalPotentialThirdPartyObligationAcquisitions" id="pcyo_TotalPotentialThirdPartyObligationAcquisitions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="PartnershipAgreementTable" id="pcyo_PartnershipAgreementTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="InitialExportWaterProceedsRollForward" id="pcyo_InitialExportWaterProceedsRollForward" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="InitialExportWaterProceedsBalances" id="pcyo_InitialExportWaterProceedsBalances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="TotalPotentialThirdPartyObligationExportWaterSalePayments" id="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="InitialExportWaterProceedsExportWaterSalePayments" id="pcyo_InitialExportWaterProceedsExportWaterSalePayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="PotentialThirdPartyObligationBalances" id="pcyo_PotentialThirdPartyObligationBalances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" />
  <xs:element name="ContingencyRollForward" id="pcyo_ContingencyRollForward" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ContingencyAcquisitions" id="pcyo_ContingencyAcquisitions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ContingencyTapFees" id="pcyo_ContingencyTapFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="PercentageOfPaymentRemittedToAllocatedToContingentObligation" id="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="InitialExportWaterProceedsTapFee" id="pcyo_InitialExportWaterProceedsTapFee" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="ContingencyExportWaterSalePayments" id="pcyo_ContingencyExportWaterSalePayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ParticipatingInterestsLiabilityRollForward" id="pcyo_ParticipatingInterestsLiabilityRollForward" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ParticipatingInterestsLiabilityOptionPayments" id="pcyo_ParticipatingInterestsLiabilityOptionPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ParticipatingInterestsLiabilityExportWaterSalePayments" id="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ParticipatingInterestsLiabilityRelinquishment" id="pcyo_ParticipatingInterestsLiabilityRelinquishment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ParticipatingInterestsLiabilityTapFees" id="pcyo_ParticipatingInterestsLiabilityTapFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="PotentialThirdPartyObligationRelinquishment" id="pcyo_PotentialThirdPartyObligationRelinquishment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ContingencyOptionPayments" id="pcyo_ContingencyOptionPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="InitialExportWaterProceedsAcquisitions" id="pcyo_InitialExportWaterProceedsAcquisitions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="PartnershipAgreementLineItems" id="pcyo_PartnershipAgreementLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="PartnershipAbstract" id="pcyo_PartnershipAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="PotentialThirdPartyObligationTapFees" id="pcyo_PotentialThirdPartyObligationTapFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ExportWaterAbstract" id="pcyo_ExportWaterAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" id="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ExpectedFutureRevenueReceivableFromSaleOfExportWater" id="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="ExpectedFutureExportWaterPayouts" id="pcyo_ExpectedFutureExportWaterPayouts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" id="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="PotentialThirdPartyObligationOptionPayments" id="pcyo_PotentialThirdPartyObligationOptionPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ExportWaterProceedsReceivedRollForward" id="pcyo_ExportWaterProceedsReceivedRollForward" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ExportWaterProceedsReceivedBalances" id="pcyo_ExportWaterProceedsReceivedBalances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" />
  <xs:element name="ExportWaterProceedsReceivedSalePayments" id="pcyo_ExportWaterProceedsReceivedSalePayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ExportWaterProceedsReceivedRelinquishment" id="pcyo_ExportWaterProceedsReceivedRelinquishment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ExportWaterProceedsReceivedTapFees" id="pcyo_ExportWaterProceedsReceivedTapFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="NumberOfMembersToDeliverWater" id="pcyo_NumberOfMembersToDeliverWater" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="InitialExportWaterProceedsOptionPayments" id="pcyo_InitialExportWaterProceedsOptionPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" />
  <xs:element name="InitialExportWaterProceedsRelinquishment" id="pcyo_InitialExportWaterProceedsRelinquishment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" id="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xs:element name="ParticipatingInterestsLiabilityAcquisitions" id="pcyo_ParticipatingInterestsLiabilityAcquisitions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="SouthMetroWiseAuthorityMember" id="pcyo_SouthMetroWiseAuthorityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xs:element name="ExportWaterProceedsReceivedAcquisitions" id="pcyo_ExportWaterProceedsReceivedAcquisitions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ExportWaterProceedsReceivedOptionPayments" id="pcyo_ExportWaterProceedsReceivedOptionPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="ContingencyRelinquishment" id="pcyo_ContingencyRelinquishment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" />
  <xs:element name="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" id="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="NumberOfAssets" id="pcyo_NumberOfAssets" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xs:element name="NumberOfLiabilities" id="pcyo_NumberOfLiabilities" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>9
<FILENAME>pcyo-20200531_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 7.0.0.0 Broadridge-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <link:roleRef roleURI="http://purecyclewater.com/role/IncomeTaxesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#IncomeTaxesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/WaterAndLandAssetsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#WaterAndLandAssetsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementsOfCashFlowsUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedBalanceSheetsUnaudited" />
  <link:calculationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableRelatedPartiesNoncurrent" xlink:label="NotesReceivableRelatedPartiesNoncurrent" xlink:title="NotesReceivableRelatedPartiesNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="NotesReceivableRelatedPartiesNoncurrent" xlink:title="calculation: Assets to NotesReceivableRelatedPartiesNoncurrent" order="7.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateInvestments" xlink:label="RealEstateInvestments" xlink:title="RealEstateInvestments" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="RealEstateInvestments" xlink:title="calculation: Assets to RealEstateInvestments" order="10.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAndMineralRights" xlink:label="LandAndMineralRights" xlink:title="LandAndMineralRights" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="LandAndMineralRights" xlink:title="calculation: Assets to LandAndMineralRights" order="3.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="OtherAssetsNoncurrent" xlink:title="OtherAssetsNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="OtherAssetsNoncurrent" xlink:title="calculation: Assets to OtherAssetsNoncurrent" order="9.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="PropertyPlantAndEquipmentNet" xlink:title="calculation: Assets to PropertyPlantAndEquipmentNet" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="AssetsCurrent" xlink:title="AssetsCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="AccountsReceivableNetCurrent" xlink:title="AccountsReceivableNetCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="AccountsReceivableNetCurrent" xlink:title="calculation: AssetsCurrent to AccountsReceivableNetCurrent" order="4.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermInvestments" xlink:label="ShortTermInvestments" xlink:title="ShortTermInvestments" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="ShortTermInvestments" xlink:title="calculation: AssetsCurrent to ShortTermInvestments" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:label="PrepaidExpenseCurrent" xlink:title="PrepaidExpenseCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="PrepaidExpenseCurrent" xlink:title="calculation: AssetsCurrent to PrepaidExpenseCurrent" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesReceivable" xlink:label="IncomeTaxesReceivable" xlink:title="IncomeTaxesReceivable" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="IncomeTaxesReceivable" xlink:title="calculation: AssetsCurrent to IncomeTaxesReceivable" order="6.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="CashAndCashEquivalentsAtCarryingValue" xlink:title="CashAndCashEquivalentsAtCarryingValue" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="CashAndCashEquivalentsAtCarryingValue" xlink:title="calculation: AssetsCurrent to CashAndCashEquivalentsAtCarryingValue" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryLandHeldForDevelopmentAndSale" xlink:label="InventoryLandHeldForDevelopmentAndSale" xlink:title="InventoryLandHeldForDevelopmentAndSale" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="InventoryLandHeldForDevelopmentAndSale" xlink:title="calculation: AssetsCurrent to InventoryLandHeldForDevelopmentAndSale" order="7.0" weight="1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="AssetsCurrent" xlink:title="calculation: Assets to AssetsCurrent" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="OperatingLeaseRightOfUseAsset" xlink:title="OperatingLeaseRightOfUseAsset" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="OperatingLeaseRightOfUseAsset" xlink:title="calculation: Assets to OperatingLeaseRightOfUseAsset" order="11.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesReceivableNoncurrent" xlink:label="IncomeTaxesReceivableNoncurrent" xlink:title="IncomeTaxesReceivableNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="IncomeTaxesReceivableNoncurrent" xlink:title="calculation: Assets to IncomeTaxesReceivableNoncurrent" order="13.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet" xlink:label="DeferredIncomeTaxAssetsNet" xlink:title="DeferredIncomeTaxAssetsNet" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="DeferredIncomeTaxAssetsNet" xlink:title="calculation: Assets to DeferredIncomeTaxAssetsNet" order="12.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="RetainedEarningsAccumulatedDeficit" xlink:title="RetainedEarningsAccumulatedDeficit" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="StockholdersEquity" xlink:to="RetainedEarningsAccumulatedDeficit" xlink:title="calculation: StockholdersEquity to RetainedEarningsAccumulatedDeficit" order="4.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValueOutstanding" xlink:label="CommonStockValueOutstanding" xlink:title="CommonStockValueOutstanding" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="StockholdersEquity" xlink:to="CommonStockValueOutstanding" xlink:title="calculation: StockholdersEquity to CommonStockValueOutstanding" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="StockholdersEquity" xlink:to="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="calculation: StockholdersEquity to AccumulatedOtherComprehensiveIncomeLossNetOfTax" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="PreferredStockValue" xlink:title="PreferredStockValue" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="StockholdersEquity" xlink:to="PreferredStockValue" xlink:title="calculation: StockholdersEquity to PreferredStockValue" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="AdditionalPaidInCapital" xlink:title="AdditionalPaidInCapital" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="StockholdersEquity" xlink:to="AdditionalPaidInCapital" xlink:title="calculation: StockholdersEquity to AdditionalPaidInCapital" order="3.0" weight="1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="StockholdersEquity" xlink:title="calculation: LiabilitiesAndStockholdersEquity to StockholdersEquity" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityNoncurrent" xlink:label="ContractWithCustomerLiabilityNoncurrent" xlink:title="ContractWithCustomerLiabilityNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Liabilities" xlink:to="ContractWithCustomerLiabilityNoncurrent" xlink:title="calculation: Liabilities to ContractWithCustomerLiabilityNoncurrent" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="LiabilitiesCurrent" xlink:title="LiabilitiesCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent" xlink:label="ContractWithCustomerLiabilityCurrent" xlink:title="ContractWithCustomerLiabilityCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="LiabilitiesCurrent" xlink:to="ContractWithCustomerLiabilityCurrent" xlink:title="calculation: LiabilitiesCurrent to ContractWithCustomerLiabilityCurrent" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="AccountsPayableCurrent" xlink:title="AccountsPayableCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="LiabilitiesCurrent" xlink:to="AccountsPayableCurrent" xlink:title="calculation: LiabilitiesCurrent to AccountsPayableCurrent" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueLeasesCurrent" xlink:label="DeferredRevenueLeasesCurrent" xlink:title="DeferredRevenueLeasesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="LiabilitiesCurrent" xlink:to="DeferredRevenueLeasesCurrent" xlink:title="calculation: LiabilitiesCurrent to DeferredRevenueLeasesCurrent" order="6.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:label="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:title="AccruedLiabilitiesExcludingRelatedPartyCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="LiabilitiesCurrent" xlink:to="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:title="calculation: LiabilitiesCurrent to AccruedLiabilitiesExcludingRelatedPartyCurrent" order="3.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableRelatedPartiesCurrent" xlink:label="AccountsPayableRelatedPartiesCurrent" xlink:title="AccountsPayableRelatedPartiesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="LiabilitiesCurrent" xlink:to="AccountsPayableRelatedPartiesCurrent" xlink:title="calculation: LiabilitiesCurrent to AccountsPayableRelatedPartiesCurrent" order="2.0" weight="1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Liabilities" xlink:to="LiabilitiesCurrent" xlink:title="calculation: Liabilities to LiabilitiesCurrent" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiability" xlink:label="ParticipatingInterestsLiability" xlink:title="ParticipatingInterestsLiability" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Liabilities" xlink:to="ParticipatingInterestsLiability" xlink:title="calculation: Liabilities to ParticipatingInterestsLiability" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="OperatingLeaseLiabilityNoncurrent" xlink:title="OperatingLeaseLiabilityNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Liabilities" xlink:to="OperatingLeaseLiabilityNoncurrent" xlink:title="calculation: Liabilities to OperatingLeaseLiabilityNoncurrent" order="4.0" weight="1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="Liabilities" xlink:title="calculation: LiabilitiesAndStockholdersEquity to Liabilities" order="1.0" weight="1.0" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="ComprehensiveIncomeNetOfTax" xlink:title="ComprehensiveIncomeNetOfTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="calculation: ComprehensiveIncomeNetOfTax to OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="OperatingIncomeLoss" xlink:title="OperatingIncomeLoss" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GrossProfit" xlink:label="GrossProfit" xlink:title="GrossProfit" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="GrossProfit" xlink:to="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="calculation: GrossProfit to RevenueFromContractWithCustomerExcludingAssessedTax" order="0.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="CostOfRevenue" xlink:title="CostOfRevenue" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentConstructionCosts" xlink:label="LandDevelopmentConstructionCosts" xlink:title="LandDevelopmentConstructionCosts" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CostOfRevenue" xlink:to="LandDevelopmentConstructionCosts" xlink:title="calculation: CostOfRevenue to LandDevelopmentConstructionCosts" order="4.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OtherServicesExpense" xlink:label="OtherServicesExpense" xlink:title="OtherServicesExpense" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CostOfRevenue" xlink:to="OtherServicesExpense" xlink:title="calculation: CostOfRevenue to OtherServicesExpense" order="3.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterServiceOperationsExpense" xlink:label="WaterServiceOperationsExpense" xlink:title="WaterServiceOperationsExpense" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CostOfRevenue" xlink:to="WaterServiceOperationsExpense" xlink:title="calculation: CostOfRevenue to WaterServiceOperationsExpense" order="0.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostDepreciationAmortizationAndDepletion" xlink:label="CostDepreciationAmortizationAndDepletion" xlink:title="CostDepreciationAmortizationAndDepletion" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CostOfRevenue" xlink:to="CostDepreciationAmortizationAndDepletion" xlink:title="calculation: CostOfRevenue to CostDepreciationAmortizationAndDepletion" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterServiceOperationsExpense" xlink:label="WastewaterServiceOperationsExpense" xlink:title="WastewaterServiceOperationsExpense" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CostOfRevenue" xlink:to="WastewaterServiceOperationsExpense" xlink:title="calculation: CostOfRevenue to WastewaterServiceOperationsExpense" order="1.0" weight="1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="GrossProfit" xlink:to="CostOfRevenue" xlink:title="calculation: GrossProfit to CostOfRevenue" order="1.0" weight="-1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingIncomeLoss" xlink:to="GrossProfit" xlink:title="calculation: OperatingIncomeLoss to GrossProfit" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingIncomeLoss" xlink:to="GeneralAndAdministrativeExpense" xlink:title="calculation: OperatingIncomeLoss to GeneralAndAdministrativeExpense" order="2.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="DepreciationNonproduction" xlink:title="DepreciationNonproduction" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingIncomeLoss" xlink:to="DepreciationNonproduction" xlink:title="calculation: OperatingIncomeLoss to DepreciationNonproduction" order="3.0" weight="-1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="OperatingIncomeLoss" xlink:title="calculation: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to OperatingIncomeLoss" order="0.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="InvestmentIncomeInterest" xlink:title="InvestmentIncomeInterest" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="InvestmentIncomeInterest" xlink:title="calculation: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to InvestmentIncomeInterest" order="4.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RoyaltyIncomeNonoperating" xlink:label="RoyaltyIncomeNonoperating" xlink:title="RoyaltyIncomeNonoperating" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="RoyaltyIncomeNonoperating" xlink:title="calculation: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to RoyaltyIncomeNonoperating" order="3.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RentalIncomeNonoperating" xlink:label="RentalIncomeNonoperating" xlink:title="RentalIncomeNonoperating" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="RentalIncomeNonoperating" xlink:title="calculation: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to RentalIncomeNonoperating" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="OtherNonoperatingIncomeExpense" xlink:title="OtherNonoperatingIncomeExpense" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="OtherNonoperatingIncomeExpense" xlink:title="calculation: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to OtherNonoperatingIncomeExpense" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursementOfConstructionCostsRelatedParty" xlink:label="ReimbursementOfConstructionCostsRelatedParty" xlink:title="ReimbursementOfConstructionCostsRelatedParty" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="ReimbursementOfConstructionCostsRelatedParty" xlink:title="calculation: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to ReimbursementOfConstructionCostsRelatedParty" order="1.0" weight="1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetIncomeLoss" xlink:to="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="calculation: NetIncomeLoss to IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="0.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="IncomeTaxExpenseBenefit" xlink:title="IncomeTaxExpenseBenefit" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetIncomeLoss" xlink:to="IncomeTaxExpenseBenefit" xlink:title="calculation: NetIncomeLoss to IncomeTaxExpenseBenefit" order="1.0" weight="-1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="NetIncomeLoss" xlink:title="calculation: ComprehensiveIncomeNetOfTax to NetIncomeLoss" order="1.0" weight="1.0" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="NetCashProvidedByUsedInInvestingActivities" xlink:title="NetCashProvidedByUsedInInvestingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments" xlink:label="PaymentsToAcquireShortTermInvestments" xlink:title="PaymentsToAcquireShortTermInvestments" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInInvestingActivities" xlink:to="PaymentsToAcquireShortTermInvestments" xlink:title="calculation: NetCashProvidedByUsedInInvestingActivities to PaymentsToAcquireShortTermInvestments" order="7.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:label="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:title="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInInvestingActivities" xlink:to="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:title="calculation: NetCashProvidedByUsedInInvestingActivities to ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsToAcquireWaterWaterSystemsAndLand" xlink:label="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:title="PaymentsToAcquireWaterWaterSystemsAndLand" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInInvestingActivities" xlink:to="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:title="calculation: NetCashProvidedByUsedInInvestingActivities to PaymentsToAcquireWaterWaterSystemsAndLand" order="4.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:label="PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:title="PaymentsToAcquireOtherPropertyPlantAndEquipment" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInInvestingActivities" xlink:to="PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:title="calculation: NetCashProvidedByUsedInInvestingActivities to PaymentsToAcquireOtherPropertyPlantAndEquipment" order="6.0" weight="-1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="NetCashProvidedByUsedInInvestingActivities" xlink:title="calculation: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect to NetCashProvidedByUsedInInvestingActivities" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="NetCashProvidedByUsedInOperatingActivities" xlink:title="NetCashProvidedByUsedInOperatingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="NetIncomeLoss" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to NetIncomeLoss" order="0.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromEquityMethodInvestments" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncomeLossFromEquityMethodInvestments" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncomeLossFromEquityMethodInvestments" order="4.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="DepreciationDepletionAndAmortization" xlink:title="DepreciationDepletionAndAmortization" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="DepreciationDepletionAndAmortization" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to DepreciationDepletionAndAmortization" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="ShareBasedCompensation" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to ShareBasedCompensation" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="ProvisionForDoubtfulAccounts" xlink:title="ProvisionForDoubtfulAccounts" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="ProvisionForDoubtfulAccounts" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to ProvisionForDoubtfulAccounts" order="3.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="DeferredIncomeTaxExpenseBenefit" xlink:title="DeferredIncomeTaxExpenseBenefit" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="DeferredIncomeTaxExpenseBenefit" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to DeferredIncomeTaxExpenseBenefit" order="7.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestIncomeRelatedParty" xlink:label="InterestIncomeRelatedParty" xlink:title="InterestIncomeRelatedParty" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="InterestIncomeRelatedParty" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to InterestIncomeRelatedParty" order="6.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InterestIncomeAndOtherNonCashItems" xlink:label="InterestIncomeAndOtherNonCashItems" xlink:title="InterestIncomeAndOtherNonCashItems" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="InterestIncomeAndOtherNonCashItems" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to InterestIncomeAndOtherNonCashItems" order="5.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:label="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:title="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" order="8.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xlink:label="IncreaseDecreaseInContractWithCustomerLiability" xlink:title="IncreaseDecreaseInContractWithCustomerLiability" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInContractWithCustomerLiability" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInContractWithCustomerLiability" order="17.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:title="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" order="15.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties" xlink:label="IncreaseDecreaseInNotesReceivableRelatedParties" xlink:title="IncreaseDecreaseInNotesReceivableRelatedParties" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInNotesReceivableRelatedParties" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInNotesReceivableRelatedParties" order="13.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInLandDevelopmentInventories" xlink:label="IncreaseDecreaseInLandDevelopmentInventories" xlink:title="IncreaseDecreaseInLandDevelopmentInventories" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInLandDevelopmentInventories" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInLandDevelopmentInventories" order="9.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInDeferredRevenueLeases" xlink:label="IncreaseDecreaseInDeferredRevenueLeases" xlink:title="IncreaseDecreaseInDeferredRevenueLeases" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInDeferredRevenueLeases" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInDeferredRevenueLeases" order="18.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInOperatingLeaseLiabilities" xlink:label="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:title="IncreaseDecreaseInOperatingLeaseLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInOperatingLeaseLiabilities" order="19.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="IncreaseDecreaseInOtherOperatingAssets" xlink:title="IncreaseDecreaseInOtherOperatingAssets" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInOtherOperatingAssets" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInOtherOperatingAssets" order="14.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="IncreaseDecreaseInAccountsReceivable" xlink:title="IncreaseDecreaseInAccountsReceivable" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInAccountsReceivable" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInAccountsReceivable" order="11.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:label="IncreaseDecreaseInPrepaidExpense" xlink:title="IncreaseDecreaseInPrepaidExpense" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInPrepaidExpense" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInPrepaidExpense" order="12.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInIncomeTaxes" xlink:label="IncreaseDecreaseInIncomeTaxes" xlink:title="IncreaseDecreaseInIncomeTaxes" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="IncreaseDecreaseInIncomeTaxes" xlink:title="calculation: NetCashProvidedByUsedInOperatingActivities to IncreaseDecreaseInIncomeTaxes" order="16.0" weight="1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="NetCashProvidedByUsedInOperatingActivities" xlink:title="calculation: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect to NetCashProvidedByUsedInOperatingActivities" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="NetCashProvidedByUsedInFinancingActivities" xlink:title="NetCashProvidedByUsedInFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="ProceedsFromStockOptionsExercised" xlink:title="ProceedsFromStockOptionsExercised" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInFinancingActivities" xlink:to="ProceedsFromStockOptionsExercised" xlink:title="calculation: NetCashProvidedByUsedInFinancingActivities to ProceedsFromStockOptionsExercised" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsToContingentLiabilityHolders" xlink:label="PaymentsToContingentLiabilityHolders" xlink:title="PaymentsToContingentLiabilityHolders" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="NetCashProvidedByUsedInFinancingActivities" xlink:to="PaymentsToContingentLiabilityHolders" xlink:title="calculation: NetCashProvidedByUsedInFinancingActivities to PaymentsToContingentLiabilityHolders" order="1.0" weight="-1.0" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="NetCashProvidedByUsedInFinancingActivities" xlink:title="calculation: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect to NetCashProvidedByUsedInFinancingActivities" order="3.0" weight="1.0" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails">
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostNet" xlink:label="ReimbursableCostNet" xlink:title="ReimbursableCostNet" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsRepaidByCommunityAuthorityBoard" xlink:label="PaymentsRepaidByCommunityAuthorityBoard" xlink:title="PaymentsRepaidByCommunityAuthorityBoard" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ReimbursableCostNet" xlink:to="PaymentsRepaidByCommunityAuthorityBoard" xlink:title="calculation: ReimbursableCostNet to PaymentsRepaidByCommunityAuthorityBoard" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostGross" xlink:label="ReimbursableCostGross" xlink:title="ReimbursableCostGross" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ReimbursableCostNet" xlink:to="ReimbursableCostGross" xlink:title="calculation: ReimbursableCostNet to ReimbursableCostGross" order="0.0" weight="1.0" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/WaterAndLandAssetsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:title="calculation: PropertyPlantAndEquipmentNet to AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" order="1.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="PropertyPlantAndEquipmentGross" xlink:title="PropertyPlantAndEquipmentGross" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="PropertyPlantAndEquipmentGross" xlink:title="calculation: PropertyPlantAndEquipmentNet to PropertyPlantAndEquipmentGross" order="0.0" weight="1.0" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="OperatingLeaseLiability" xlink:title="OperatingLeaseLiability" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="OperatingLeaseLiabilityCurrent" xlink:title="OperatingLeaseLiabilityCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingLeaseLiability" xlink:to="OperatingLeaseLiabilityCurrent" xlink:title="calculation: OperatingLeaseLiability to OperatingLeaseLiabilityCurrent" order="0.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="OperatingLeaseLiabilityNoncurrent" xlink:title="OperatingLeaseLiabilityNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="OperatingLeaseLiability" xlink:to="OperatingLeaseLiabilityNoncurrent" xlink:title="calculation: OperatingLeaseLiability to OperatingLeaseLiabilityNoncurrent" order="1.0" weight="1.0" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/IncomeTaxesDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="DeferredTaxAssetsLiabilitiesNet" xlink:title="DeferredTaxAssetsLiabilitiesNet" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsDeferredIncome" xlink:label="DeferredTaxAssetsDeferredIncome" xlink:title="DeferredTaxAssetsDeferredIncome" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="DeferredTaxAssetsDeferredIncome" xlink:title="calculation: DeferredTaxAssetsLiabilitiesNet to DeferredTaxAssetsDeferredIncome" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:label="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:title="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:title="calculation: DeferredTaxAssetsLiabilitiesNet to DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="DeferredTaxAssetsOperatingLossCarryforwards" xlink:title="DeferredTaxAssetsOperatingLossCarryforwards" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="DeferredTaxAssetsOperatingLossCarryforwards" xlink:title="calculation: DeferredTaxAssetsLiabilitiesNet to DeferredTaxAssetsOperatingLossCarryforwards" order="0.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:title="DeferredTaxLiabilitiesPropertyPlantAndEquipment" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:title="calculation: DeferredTaxAssetsLiabilitiesNet to DeferredTaxLiabilitiesPropertyPlantAndEquipment" order="3.0" weight="-1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="DeferredTaxAssetsOther" xlink:title="DeferredTaxAssetsOther" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="DeferredTaxAssetsOther" xlink:title="calculation: DeferredTaxAssetsLiabilitiesNet to DeferredTaxAssetsOther" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:title="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:title="calculation: DeferredTaxAssetsLiabilitiesNet to DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" order="4.0" weight="1.0" />
  </link:calculationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>10
<FILENAME>pcyo-20200531_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 7.0.0.0 Broadridge-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:t1="http://xbrl.org/2005/xbrldt">
  <link:roleRef roleURI="http://purecyclewater.com/role/IncomeTaxesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#IncomeTaxesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentReportingCorporateAssetsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentReportingCorporateAssetsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentInformationRevenueBySegmentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentInformationRevenueBySegmentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/AccruedLiabilitiesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#AccruedLiabilitiesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SignificantCustomersDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SignificantCustomersDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/RelatedPartyTransactionsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#RelatedPartyTransactionsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquityEquityCompensationPlanDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquityEquityCompensationPlanDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLongtermObligationsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLeaseLongtermObligationsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/WaterAndLandAssetsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#WaterAndLandAssetsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/FairValueMeasurementsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#FairValueMeasurementsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationEarningsPerCommonShareDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationEarningsPerCommonShareDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationIncomeTaxesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationIncomeTaxesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationSharebasedCompensationDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationSharebasedCompensationDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationDeferredRevenueDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationDeferredRevenueDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationOilAndGasLeasePaymentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationOilAndGasLeasePaymentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationRevenueRecognitionDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationRevenueRecognitionDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationInvestmentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationInvestmentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationLandDevelopmentInventoriesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationLandDevelopmentInventoriesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationCaresActDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationCaresActDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/IncomeTaxesTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#IncomeTaxesTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentInformationTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentInformationTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquityTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquityTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLeaseTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/WaterAndLandAssetsTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#WaterAndLandAssetsTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/FairValueMeasurementsTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#FairValueMeasurementsTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationPolicies" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationPolicies" />
  <link:roleRef roleURI="http://purecyclewater.com/role/IncomeTaxes" xlink:type="simple" xlink:href="pcyo-20200531.xsd#IncomeTaxes" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentInformation" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentInformation" />
  <link:roleRef roleURI="http://purecyclewater.com/role/CommitmentsAndContingencies" xlink:type="simple" xlink:href="pcyo-20200531.xsd#CommitmentsAndContingencies" />
  <link:roleRef roleURI="http://purecyclewater.com/role/AccruedLiabilities" xlink:type="simple" xlink:href="pcyo-20200531.xsd#AccruedLiabilities" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SignificantCustomers" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SignificantCustomers" />
  <link:roleRef roleURI="http://purecyclewater.com/role/RelatedPartyTransactions" xlink:type="simple" xlink:href="pcyo-20200531.xsd#RelatedPartyTransactions" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquity" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquity" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLease" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLease" />
  <link:roleRef roleURI="http://purecyclewater.com/role/WaterAndLandAssets" xlink:type="simple" xlink:href="pcyo-20200531.xsd#WaterAndLandAssets" />
  <link:roleRef roleURI="http://purecyclewater.com/role/FairValueMeasurements" xlink:type="simple" xlink:href="pcyo-20200531.xsd#FairValueMeasurements" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformation" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformation" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementsOfCashFlowsUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementOfShareholdersEquityUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementOfShareholdersEquityUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedBalanceSheetsParentheticalUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedBalanceSheetsParentheticalUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedBalanceSheetsUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/DocumentAndEntityInformation" xlink:type="simple" xlink:href="pcyo-20200531.xsd#DocumentAndEntityInformation" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/DocumentAndEntityInformation" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedBalanceSheetsParentheticalUnaudited" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="RevenuesAbstract" xlink:title="RevenuesAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="RevenuesAbstract" xlink:title="definition: StatementLineItems to RevenuesAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingCostsAndExpensesAbstract" xlink:label="OperatingCostsAndExpensesAbstract" xlink:title="OperatingCostsAndExpensesAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="OperatingCostsAndExpensesAbstract" xlink:title="definition: StatementLineItems to OperatingCostsAndExpensesAbstract" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GrossProfit" xlink:label="GrossProfit" xlink:title="GrossProfit" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="GrossProfit" xlink:title="definition: StatementLineItems to GrossProfit" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="GeneralAndAdministrativeExpense" xlink:title="definition: StatementLineItems to GeneralAndAdministrativeExpense" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="DepreciationNonproduction" xlink:title="DepreciationNonproduction" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="DepreciationNonproduction" xlink:title="definition: StatementLineItems to DepreciationNonproduction" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="OperatingIncomeLoss" xlink:title="OperatingIncomeLoss" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="OperatingIncomeLoss" xlink:title="definition: StatementLineItems to OperatingIncomeLoss" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract" xlink:label="OtherIncomeAndExpensesAbstract" xlink:title="OtherIncomeAndExpensesAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="OtherIncomeAndExpensesAbstract" xlink:title="definition: StatementLineItems to OtherIncomeAndExpensesAbstract" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="definition: StatementLineItems to IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="IncomeTaxExpenseBenefit" xlink:title="IncomeTaxExpenseBenefit" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="IncomeTaxExpenseBenefit" xlink:title="definition: StatementLineItems to IncomeTaxExpenseBenefit" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="NetIncomeLoss" xlink:title="definition: StatementLineItems to NetIncomeLoss" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="definition: StatementLineItems to OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" order="11.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="ComprehensiveIncomeNetOfTax" xlink:title="ComprehensiveIncomeNetOfTax" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="ComprehensiveIncomeNetOfTax" xlink:title="definition: StatementLineItems to ComprehensiveIncomeNetOfTax" order="12.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="EarningsPerShareAbstract" xlink:title="definition: StatementLineItems to EarningsPerShareAbstract" order="13.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="WeightedAverageNumberOfSharesOutstandingAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="definition: StatementLineItems to WeightedAverageNumberOfSharesOutstandingAbstract" order="14.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="WeightedAverageNumberOfSharesOutstandingBasic" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="definition: StatementLineItems to WeightedAverageNumberOfSharesOutstandingBasic" order="15.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="WeightedAverageNumberOfDilutedSharesOutstanding" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="definition: StatementLineItems to WeightedAverageNumberOfDilutedSharesOutstanding" order="16.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="EarningsPerShareBasic" xlink:title="EarningsPerShareBasic" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="EarningsPerShareBasic" xlink:title="definition: StatementLineItems to EarningsPerShareBasic" order="17.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="EarningsPerShareDiluted" xlink:title="EarningsPerShareDiluted" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="EarningsPerShareDiluted" xlink:title="definition: StatementLineItems to EarningsPerShareDiluted" order="18.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursementOfConstructionCostsRelatedParty" xlink:label="ReimbursementOfConstructionCostsRelatedParty" xlink:title="ReimbursementOfConstructionCostsRelatedParty" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="ReimbursementOfConstructionCostsRelatedParty" xlink:title="definition: StatementLineItems to ReimbursementOfConstructionCostsRelatedParty" order="19.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RentalIncomeNonoperating" xlink:label="RentalIncomeNonoperating" xlink:title="RentalIncomeNonoperating" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="RentalIncomeNonoperating" xlink:title="definition: StatementLineItems to RentalIncomeNonoperating" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RoyaltyIncomeNonoperating" xlink:label="RoyaltyIncomeNonoperating" xlink:title="RoyaltyIncomeNonoperating" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="RoyaltyIncomeNonoperating" xlink:title="definition: StatementLineItems to RoyaltyIncomeNonoperating" order="21.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="InvestmentIncomeInterest" xlink:title="InvestmentIncomeInterest" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="InvestmentIncomeInterest" xlink:title="definition: StatementLineItems to InvestmentIncomeInterest" order="22.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="OtherNonoperatingIncomeExpense" xlink:title="OtherNonoperatingIncomeExpense" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="OtherNonoperatingIncomeExpense" xlink:title="definition: StatementLineItems to OtherNonoperatingIncomeExpense" order="23.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterServiceOperationsExpense" xlink:label="WaterServiceOperationsExpense" xlink:title="WaterServiceOperationsExpense" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="WaterServiceOperationsExpense" xlink:title="definition: StatementLineItems to WaterServiceOperationsExpense" order="24.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterServiceOperationsExpense" xlink:label="WastewaterServiceOperationsExpense" xlink:title="WastewaterServiceOperationsExpense" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="WastewaterServiceOperationsExpense" xlink:title="definition: StatementLineItems to WastewaterServiceOperationsExpense" order="25.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentConstructionCosts" xlink:label="LandDevelopmentConstructionCosts" xlink:title="LandDevelopmentConstructionCosts" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="LandDevelopmentConstructionCosts" xlink:title="definition: StatementLineItems to LandDevelopmentConstructionCosts" order="26.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostDepreciationAmortizationAndDepletion" xlink:label="CostDepreciationAmortizationAndDepletion" xlink:title="CostDepreciationAmortizationAndDepletion" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="CostDepreciationAmortizationAndDepletion" xlink:title="definition: StatementLineItems to CostDepreciationAmortizationAndDepletion" order="27.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OtherServicesExpense" xlink:label="OtherServicesExpense" xlink:title="OtherServicesExpense" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="OtherServicesExpense" xlink:title="definition: StatementLineItems to OtherServicesExpense" order="28.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="CostOfRevenue" xlink:title="CostOfRevenue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="CostOfRevenue" xlink:title="definition: StatementLineItems to CostOfRevenue" order="29.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="definition: StatementLineItems to RevenueFromContractWithCustomerExcludingAssessedTax" order="30.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="StatementLineItems" xlink:to="StatementTable" xlink:title="definition: StatementLineItems to StatementTable" order="31.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="StatementTable" xlink:to="ProductOrServiceAxis" xlink:title="definition: StatementTable to ProductOrServiceAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain_2" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain_2" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageMember" xlink:label="MeteredWaterUsageMember" xlink:title="MeteredWaterUsageMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="MeteredWaterUsageMember" xlink:title="definition: ProductsAndServicesDomain to MeteredWaterUsageMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageOilAndGasMember" xlink:label="MeteredWaterUsageOilAndGasMember" xlink:title="MeteredWaterUsageOilAndGasMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="MeteredWaterUsageOilAndGasMember" xlink:title="definition: ProductsAndServicesDomain to MeteredWaterUsageOilAndGasMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterTreatmentFeesMember" xlink:label="WastewaterTreatmentFeesMember" xlink:title="WastewaterTreatmentFeesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="WastewaterTreatmentFeesMember" xlink:title="definition: ProductsAndServicesDomain to WastewaterTreatmentFeesMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterTapFeesMember" xlink:label="WaterAndWastewaterTapFeesMember" xlink:title="WaterAndWastewaterTapFeesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="WaterAndWastewaterTapFeesMember" xlink:title="definition: ProductsAndServicesDomain to WaterAndWastewaterTapFeesMember" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesMember" xlink:label="LotSalesMember" xlink:title="LotSalesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="LotSalesMember" xlink:title="definition: ProductsAndServicesDomain to LotSalesMember" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ServiceOtherMember" xlink:label="ServiceOtherMember" xlink:title="ServiceOtherMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="ServiceOtherMember" xlink:title="definition: ProductsAndServicesDomain to ServiceOtherMember" order="6.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementOfShareholdersEquityUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="IncreaseDecreaseInStockholdersEquityRollForward" xlink:title="IncreaseDecreaseInStockholdersEquityRollForward" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="IncreaseDecreaseInStockholdersEquityRollForward" xlink:title="definition: StatementLineItems to IncreaseDecreaseInStockholdersEquityRollForward" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="StockholdersEquity" xlink:title="definition: StatementLineItems to StockholdersEquity" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="SharesOutstanding" xlink:title="SharesOutstanding" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="SharesOutstanding" xlink:title="definition: StatementLineItems to SharesOutstanding" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:title="StockIssuedDuringPeriodValueStockOptionsExercised" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:title="definition: StatementLineItems to StockIssuedDuringPeriodValueStockOptionsExercised" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="StockIssuedDuringPeriodSharesStockOptionsExercised" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="definition: StatementLineItems to StockIssuedDuringPeriodSharesStockOptionsExercised" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:label="StockIssuedDuringPeriodValueIssuedForServices" xlink:title="StockIssuedDuringPeriodValueIssuedForServices" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="StockIssuedDuringPeriodValueIssuedForServices" xlink:title="definition: StatementLineItems to StockIssuedDuringPeriodValueIssuedForServices" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:label="StockIssuedDuringPeriodSharesIssuedForServices" xlink:title="StockIssuedDuringPeriodSharesIssuedForServices" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="StockIssuedDuringPeriodSharesIssuedForServices" xlink:title="definition: StatementLineItems to StockIssuedDuringPeriodSharesIssuedForServices" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:label="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="definition: StatementLineItems to AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="NetIncomeLoss" xlink:title="definition: StatementLineItems to NetIncomeLoss" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="definition: StatementLineItems to OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="StatementLineItems" xlink:to="StatementTable" xlink:title="definition: StatementLineItems to StatementTable" order="11.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="StatementEquityComponentsAxis" xlink:title="StatementEquityComponentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="StatementTable" xlink:to="StatementEquityComponentsAxis" xlink:title="definition: StatementTable to StatementEquityComponentsAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain" xlink:title="EquityComponentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementEquityComponentsAxis" xlink:to="EquityComponentDomain" xlink:title="definition: StatementEquityComponentsAxis to EquityComponentDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain_2" xlink:title="EquityComponentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementEquityComponentsAxis" xlink:to="EquityComponentDomain_2" xlink:title="definition: StatementEquityComponentsAxis to EquityComponentDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="PreferredStockMember" xlink:title="PreferredStockMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityComponentDomain" xlink:to="PreferredStockMember" xlink:title="definition: EquityComponentDomain to PreferredStockMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityComponentDomain" xlink:to="CommonStockMember" xlink:title="definition: EquityComponentDomain to CommonStockMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="AdditionalPaidInCapitalMember" xlink:title="AdditionalPaidInCapitalMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityComponentDomain" xlink:to="AdditionalPaidInCapitalMember" xlink:title="definition: EquityComponentDomain to AdditionalPaidInCapitalMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="AccumulatedOtherComprehensiveIncomeMember" xlink:title="AccumulatedOtherComprehensiveIncomeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityComponentDomain" xlink:to="AccumulatedOtherComprehensiveIncomeMember" xlink:title="definition: EquityComponentDomain to AccumulatedOtherComprehensiveIncomeMember" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityComponentDomain" xlink:to="RetainedEarningsMember" xlink:title="definition: EquityComponentDomain to RetainedEarningsMember" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionAxis" xlink:label="CumulativeEffectPeriodOfAdoptionAxis" xlink:title="CumulativeEffectPeriodOfAdoptionAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="StatementTable" xlink:to="CumulativeEffectPeriodOfAdoptionAxis" xlink:title="definition: StatementTable to CumulativeEffectPeriodOfAdoptionAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionDomain" xlink:label="CumulativeEffectPeriodOfAdoptionDomain" xlink:title="CumulativeEffectPeriodOfAdoptionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CumulativeEffectPeriodOfAdoptionAxis" xlink:to="CumulativeEffectPeriodOfAdoptionDomain" xlink:title="definition: CumulativeEffectPeriodOfAdoptionAxis to CumulativeEffectPeriodOfAdoptionDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionDomain" xlink:label="CumulativeEffectPeriodOfAdoptionDomain_2" xlink:title="CumulativeEffectPeriodOfAdoptionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="CumulativeEffectPeriodOfAdoptionAxis" xlink:to="CumulativeEffectPeriodOfAdoptionDomain_2" xlink:title="definition: CumulativeEffectPeriodOfAdoptionAxis to CumulativeEffectPeriodOfAdoptionDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:label="CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:title="CumulativeEffectPeriodOfAdoptionAdjustmentMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="CumulativeEffectPeriodOfAdoptionDomain" xlink:to="CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:title="definition: CumulativeEffectPeriodOfAdoptionDomain to CumulativeEffectPeriodOfAdoptionAdjustmentMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformation" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/FairValueMeasurements" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/WaterAndLandAssets" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLease" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquity" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/RelatedPartyTransactions" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SignificantCustomers" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/AccruedLiabilities" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/CommitmentsAndContingencies" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentInformation" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/IncomeTaxes" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationPolicies" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationTables" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/FairValueMeasurementsTables" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/WaterAndLandAssetsTables" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseTables" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquityTables" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentInformationTables" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/IncomeTaxesTables" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationCaresActDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="ShortTermDebtLineItems" xlink:title="ShortTermDebtLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtCurrentAbstract" xlink:label="DebtCurrentAbstract" xlink:title="DebtCurrentAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShortTermDebtLineItems" xlink:to="DebtCurrentAbstract" xlink:title="definition: ShortTermDebtLineItems to DebtCurrentAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="DebtInstrumentFaceAmount" xlink:title="DebtInstrumentFaceAmount" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShortTermDebtLineItems" xlink:to="DebtInstrumentFaceAmount" xlink:title="definition: ShortTermDebtLineItems to DebtInstrumentFaceAmount" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="RepaymentsOfNotesPayable" xlink:title="RepaymentsOfNotesPayable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShortTermDebtLineItems" xlink:to="RepaymentsOfNotesPayable" xlink:title="definition: ShortTermDebtLineItems to RepaymentsOfNotesPayable" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:label="ScheduleOfShortTermDebtTable" xlink:title="ScheduleOfShortTermDebtTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ShortTermDebtLineItems" xlink:to="ScheduleOfShortTermDebtTable" xlink:title="definition: ShortTermDebtLineItems to ScheduleOfShortTermDebtTable" order="4.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="DebtInstrumentAxis" xlink:title="DebtInstrumentAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfShortTermDebtTable" xlink:to="DebtInstrumentAxis" xlink:title="definition: ScheduleOfShortTermDebtTable to DebtInstrumentAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="DebtInstrumentNameDomain" xlink:title="DebtInstrumentNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="DebtInstrumentAxis" xlink:to="DebtInstrumentNameDomain" xlink:title="definition: DebtInstrumentAxis to DebtInstrumentNameDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="DebtInstrumentNameDomain_2" xlink:title="DebtInstrumentNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="DebtInstrumentAxis" xlink:to="DebtInstrumentNameDomain_2" xlink:title="definition: DebtInstrumentAxis to DebtInstrumentNameDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaycheckProtectionProgramLoanMember" xlink:label="PaycheckProtectionProgramLoanMember" xlink:title="PaycheckProtectionProgramLoanMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DebtInstrumentNameDomain" xlink:to="PaycheckProtectionProgramLoanMember" xlink:title="definition: DebtInstrumentNameDomain to PaycheckProtectionProgramLoanMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationLandDevelopmentInventoriesDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationInvestmentsDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationRevenueRecognitionDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueAbstract" xlink:label="DisaggregationOfRevenueAbstract" xlink:title="DisaggregationOfRevenueAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DisaggregationOfRevenueAbstract" xlink:title="definition: DisaggregationOfRevenueLineItems to DisaggregationOfRevenueAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAbstract" xlink:label="LandAbstract" xlink:title="LandAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="LandAbstract" xlink:title="definition: DisaggregationOfRevenueLineItems to LandAbstract" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AreaOfLand" xlink:label="AreaOfLand" xlink:title="AreaOfLand" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="AreaOfLand" xlink:title="definition: DisaggregationOfRevenueLineItems to AreaOfLand" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromCustomersForProgressPayments" xlink:label="ProceedsFromCustomersForProgressPayments" xlink:title="ProceedsFromCustomersForProgressPayments" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ProceedsFromCustomersForProgressPayments" xlink:title="definition: DisaggregationOfRevenueLineItems to ProceedsFromCustomersForProgressPayments" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfHomeBuilders" xlink:label="NumberOfHomeBuilders" xlink:title="NumberOfHomeBuilders" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfHomeBuilders" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfHomeBuilders" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfPlattedLotsSold" xlink:label="NumberOfPlattedLotsSold" xlink:title="NumberOfPlattedLotsSold" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfPlattedLotsSold" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfPlattedLotsSold" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfFinishedLotsSold" xlink:label="NumberOfFinishedLotsSold" xlink:title="NumberOfFinishedLotsSold" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfFinishedLotsSold" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfFinishedLotsSold" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="ContractWithCustomerLiabilityRevenueRecognized" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerLiabilityRevenueRecognized" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedDeliveryPeriodForLotsSold" xlink:label="ExpectedDeliveryPeriodForLotsSold" xlink:title="ExpectedDeliveryPeriodForLotsSold" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ExpectedDeliveryPeriodForLotsSold" xlink:title="definition: DisaggregationOfRevenueLineItems to ExpectedDeliveryPeriodForLotsSold" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="DebtInstrumentInterestRateStatedPercentage" xlink:title="DebtInstrumentInterestRateStatedPercentage" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DebtInstrumentInterestRateStatedPercentage" xlink:title="definition: DisaggregationOfRevenueLineItems to DebtInstrumentInterestRateStatedPercentage" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredInterestIncome" xlink:label="DeferredInterestIncome" xlink:title="DeferredInterestIncome" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DeferredInterestIncome" xlink:title="definition: DisaggregationOfRevenueLineItems to DeferredInterestIncome" order="11.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="DebtInstrumentFaceAmount" xlink:title="DebtInstrumentFaceAmount" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DebtInstrumentFaceAmount" xlink:title="definition: DisaggregationOfRevenueLineItems to DebtInstrumentFaceAmount" order="12.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:label="ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:title="ProceedsFromIssuanceOfSecuredTaxExemptDebt" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:title="definition: DisaggregationOfRevenueLineItems to ProceedsFromIssuanceOfSecuredTaxExemptDebt" order="13.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:label="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:title="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:title="definition: DisaggregationOfRevenueLineItems to NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" order="14.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursementOfConstructionCostsRelatedParty" xlink:label="ReimbursementOfConstructionCostsRelatedParty" xlink:title="ReimbursementOfConstructionCostsRelatedParty" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ReimbursementOfConstructionCostsRelatedParty" xlink:title="definition: DisaggregationOfRevenueLineItems to ReimbursementOfConstructionCostsRelatedParty" order="15.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:label="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:title="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:title="definition: DisaggregationOfRevenueLineItems to PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" order="16.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfServiceAgreementsProjects" xlink:label="NumberOfServiceAgreementsProjects" xlink:title="NumberOfServiceAgreementsProjects" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfServiceAgreementsProjects" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfServiceAgreementsProjects" order="17.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyManagementFeePercentFee" xlink:label="PropertyManagementFeePercentFee" xlink:title="PropertyManagementFeePercentFee" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="PropertyManagementFeePercentFee" xlink:title="definition: DisaggregationOfRevenueLineItems to PropertyManagementFeePercentFee" order="18.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesAccruedReimbursableAmount" xlink:label="ProjectManagementServicesAccruedReimbursableAmount" xlink:title="ProjectManagementServicesAccruedReimbursableAmount" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ProjectManagementServicesAccruedReimbursableAmount" xlink:title="definition: DisaggregationOfRevenueLineItems to ProjectManagementServicesAccruedReimbursableAmount" order="19.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConstructionSupportAmountInvoiced" xlink:label="ConstructionSupportAmountInvoiced" xlink:title="ConstructionSupportAmountInvoiced" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ConstructionSupportAmountInvoiced" xlink:title="definition: DisaggregationOfRevenueLineItems to ConstructionSupportAmountInvoiced" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfBusinessLines" xlink:label="NumberOfBusinessLines" xlink:title="NumberOfBusinessLines" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfBusinessLines" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfBusinessLines" order="21.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfRevenueSources" xlink:label="NumberOfRevenueSources" xlink:title="NumberOfRevenueSources" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfRevenueSources" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfRevenueSources" order="22.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterDeliveredToCustomers" xlink:label="WaterDeliveredToCustomers" xlink:title="WaterDeliveredToCustomers" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="WaterDeliveredToCustomers" xlink:title="definition: DisaggregationOfRevenueLineItems to WaterDeliveredToCustomers" order="23.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfWaterUsedForOilAndGasExploration" xlink:label="PercentageOfWaterUsedForOilAndGasExploration" xlink:title="PercentageOfWaterUsedForOilAndGasExploration" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="PercentageOfWaterUsedForOilAndGasExploration" xlink:title="definition: DisaggregationOfRevenueLineItems to PercentageOfWaterUsedForOilAndGasExploration" order="24.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="definition: DisaggregationOfRevenueLineItems to RevenueFromContractWithCustomerExcludingAssessedTax" order="25.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent" xlink:label="ContractWithCustomerLiabilityCurrent" xlink:title="ContractWithCustomerLiabilityCurrent" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiabilityCurrent" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerLiabilityCurrent" order="26.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DisaggregationOfRevenueTable" xlink:title="definition: DisaggregationOfRevenueLineItems to DisaggregationOfRevenueTable" order="27.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="ProductOrServiceAxis" xlink:title="definition: DisaggregationOfRevenueTable to ProductOrServiceAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain_2" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain_2" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageMember" xlink:label="MeteredWaterUsageMember" xlink:title="MeteredWaterUsageMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="MeteredWaterUsageMember" xlink:title="definition: ProductsAndServicesDomain to MeteredWaterUsageMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterTapFeeMember" xlink:label="WaterTapFeeMember" xlink:title="WaterTapFeeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="WaterTapFeeMember" xlink:title="definition: ProductsAndServicesDomain to WaterTapFeeMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SpecialFacilityFundingRecognizedMember" xlink:label="SpecialFacilityFundingRecognizedMember" xlink:title="SpecialFacilityFundingRecognizedMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="SpecialFacilityFundingRecognizedMember" xlink:title="definition: ProductsAndServicesDomain to SpecialFacilityFundingRecognizedMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConsultingFeesMember" xlink:label="ConsultingFeesMember" xlink:title="ConsultingFeesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="ConsultingFeesMember" xlink:title="definition: ProductsAndServicesDomain to ConsultingFeesMember" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesMember" xlink:label="LotSalesMember" xlink:title="LotSalesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="LotSalesMember" xlink:title="definition: ProductsAndServicesDomain to LotSalesMember" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesMember" xlink:label="ProjectManagementServicesMember" xlink:title="ProjectManagementServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="ProjectManagementServicesMember" xlink:title="definition: ProductsAndServicesDomain to ProjectManagementServicesMember" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesFirstFormatMember" xlink:label="LotSalesFirstFormatMember" xlink:title="LotSalesFirstFormatMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="LotSalesMember" xlink:to="LotSalesFirstFormatMember" xlink:title="definition: LotSalesMember to LotSalesFirstFormatMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesSecondFormatMember" xlink:label="LotSalesSecondFormatMember" xlink:title="LotSalesSecondFormatMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="LotSalesMember" xlink:to="LotSalesSecondFormatMember" xlink:title="definition: LotSalesMember to LotSalesSecondFormatMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:label="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:title="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="WaterTapFeeMember" xlink:to="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:title="definition: WaterTapFeeMember to WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterTapFeeMember" xlink:label="WastewaterTapFeeMember" xlink:title="WastewaterTapFeeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="WaterTapFeeMember" xlink:to="WastewaterTapFeeMember" xlink:title="definition: WaterTapFeeMember to WastewaterTapFeeMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="RelatedPartyTransactionAxis" xlink:title="RelatedPartyTransactionAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="RelatedPartyTransactionAxis" xlink:title="definition: DisaggregationOfRevenueTable to RelatedPartyTransactionAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain" xlink:title="RelatedPartyTransactionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain" xlink:title="definition: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain_2" xlink:title="RelatedPartyTransactionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain_2" xlink:title="definition: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FacilitiesFundingAndAcquisitionAgreementMember" xlink:label="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="FacilitiesFundingAndAcquisitionAgreementMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="definition: RelatedPartyTransactionDomain to FacilitiesFundingAndAcquisitionAgreementMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="RangeAxis" xlink:title="definition: DisaggregationOfRevenueTable to RangeAxis" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="definition: RangeAxis to RangeMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember_2" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RangeAxis" xlink:to="RangeMember_2" xlink:title="definition: RangeAxis to RangeMember_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="definition: RangeMember to MaximumMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="LongtermDebtTypeAxis" xlink:title="LongtermDebtTypeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="LongtermDebtTypeAxis" xlink:title="definition: DisaggregationOfRevenueTable to LongtermDebtTypeAxis" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="LongtermDebtTypeDomain" xlink:title="LongtermDebtTypeDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="LongtermDebtTypeAxis" xlink:to="LongtermDebtTypeDomain" xlink:title="definition: LongtermDebtTypeAxis to LongtermDebtTypeDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="LongtermDebtTypeDomain_2" xlink:title="LongtermDebtTypeDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="LongtermDebtTypeAxis" xlink:to="LongtermDebtTypeDomain_2" xlink:title="definition: LongtermDebtTypeAxis to LongtermDebtTypeDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="SeniorNotesMember" xlink:title="SeniorNotesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="LongtermDebtTypeDomain" xlink:to="SeniorNotesMember" xlink:title="definition: LongtermDebtTypeDomain to SeniorNotesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SeniorSubordinatedNotesMember" xlink:label="SeniorSubordinatedNotesMember" xlink:title="SeniorSubordinatedNotesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="LongtermDebtTypeDomain" xlink:to="SeniorSubordinatedNotesMember" xlink:title="definition: LongtermDebtTypeDomain to SeniorSubordinatedNotesMember" order="2.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="RelatedPartyTransactionLineItems" xlink:title="RelatedPartyTransactionLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostsNetAbstract" xlink:label="ReimbursableCostsNetAbstract" xlink:title="ReimbursableCostsNetAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="ReimbursableCostsNetAbstract" xlink:title="definition: RelatedPartyTransactionLineItems to ReimbursableCostsNetAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostGross" xlink:label="ReimbursableCostGross" xlink:title="ReimbursableCostGross" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="ReimbursableCostGross" xlink:title="definition: RelatedPartyTransactionLineItems to ReimbursableCostGross" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsRepaidByCommunityAuthorityBoard" xlink:label="PaymentsRepaidByCommunityAuthorityBoard" xlink:title="PaymentsRepaidByCommunityAuthorityBoard" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="PaymentsRepaidByCommunityAuthorityBoard" xlink:title="definition: RelatedPartyTransactionLineItems to PaymentsRepaidByCommunityAuthorityBoard" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostNet" xlink:label="ReimbursableCostNet" xlink:title="ReimbursableCostNet" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="ReimbursableCostNet" xlink:title="definition: RelatedPartyTransactionLineItems to ReimbursableCostNet" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="NumberOfRealEstateProperties" xlink:title="NumberOfRealEstateProperties" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="NumberOfRealEstateProperties" xlink:title="definition: RelatedPartyTransactionLineItems to NumberOfRealEstateProperties" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="RelatedPartyTransactionLineItems" xlink:to="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="definition: RelatedPartyTransactionLineItems to ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" order="6.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="ProductOrServiceAxis" xlink:title="definition: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to ProductOrServiceAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain_2" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain_2" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PublicImprovementsMember" xlink:label="PublicImprovementsMember" xlink:title="PublicImprovementsMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="PublicImprovementsMember" xlink:title="definition: ProductsAndServicesDomain to PublicImprovementsMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_AccruedInterestMember" xlink:label="AccruedInterestMember" xlink:title="AccruedInterestMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="AccruedInterestMember" xlink:title="definition: ProductsAndServicesDomain to AccruedInterestMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesMember" xlink:label="ProjectManagementServicesMember" xlink:title="ProjectManagementServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="ProjectManagementServicesMember" xlink:title="definition: ProductsAndServicesDomain to ProjectManagementServicesMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConstructionSupportActivitiesMember" xlink:label="ConstructionSupportActivitiesMember" xlink:title="ConstructionSupportActivitiesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="ConstructionSupportActivitiesMember" xlink:title="definition: ProductsAndServicesDomain to ConstructionSupportActivitiesMember" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="StatementScenarioAxis" xlink:title="StatementScenarioAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="StatementScenarioAxis" xlink:title="definition: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to StatementScenarioAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="ScenarioUnspecifiedDomain" xlink:title="ScenarioUnspecifiedDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementScenarioAxis" xlink:to="ScenarioUnspecifiedDomain" xlink:title="definition: StatementScenarioAxis to ScenarioUnspecifiedDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="ScenarioUnspecifiedDomain_2" xlink:title="ScenarioUnspecifiedDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementScenarioAxis" xlink:to="ScenarioUnspecifiedDomain_2" xlink:title="definition: StatementScenarioAxis to ScenarioUnspecifiedDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="ScenarioForecastMember" xlink:title="ScenarioForecastMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ScenarioUnspecifiedDomain" xlink:to="ScenarioForecastMember" xlink:title="definition: ScenarioUnspecifiedDomain to ScenarioForecastMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInContractAssetAbstract" xlink:label="ChangesInContractAssetAbstract" xlink:title="ChangesInContractAssetAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ChangesInContractAssetAbstract" xlink:title="definition: DisaggregationOfRevenueLineItems to ChangesInContractAssetAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInDeferredRevenueAbstract" xlink:label="ChangesInDeferredRevenueAbstract" xlink:title="ChangesInDeferredRevenueAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ChangesInDeferredRevenueAbstract" xlink:title="definition: DisaggregationOfRevenueLineItems to ChangesInDeferredRevenueAbstract" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuePerformanceObligationAbstract" xlink:label="RevenuePerformanceObligationAbstract" xlink:title="RevenuePerformanceObligationAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="RevenuePerformanceObligationAbstract" xlink:title="definition: DisaggregationOfRevenueLineItems to RevenuePerformanceObligationAbstract" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligation" xlink:label="RevenueRemainingPerformanceObligation" xlink:title="RevenueRemainingPerformanceObligation" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="RevenueRemainingPerformanceObligation" xlink:title="definition: DisaggregationOfRevenueLineItems to RevenueRemainingPerformanceObligation" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfUnsoldRealEstateProperties" xlink:label="NumberOfUnsoldRealEstateProperties" xlink:title="NumberOfUnsoldRealEstateProperties" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfUnsoldRealEstateProperties" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfUnsoldRealEstateProperties" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="NumberOfRealEstateProperties" xlink:title="NumberOfRealEstateProperties" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfRealEstateProperties" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfRealEstateProperties" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligationPercentage" xlink:label="RevenueRemainingPerformanceObligationPercentage" xlink:title="RevenueRemainingPerformanceObligationPercentage" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="RevenueRemainingPerformanceObligationPercentage" xlink:title="definition: DisaggregationOfRevenueLineItems to RevenueRemainingPerformanceObligationPercentage" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="ContractWithCustomerLiability" xlink:title="ContractWithCustomerLiability" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiability" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerLiability" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractWithCustomerDeferralOfRevenue" xlink:label="ContractWithCustomerDeferralOfRevenue" xlink:title="ContractWithCustomerDeferralOfRevenue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerDeferralOfRevenue" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerDeferralOfRevenue" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="ContractWithCustomerLiabilityRevenueRecognized" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerLiabilityRevenueRecognized" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueLeasesCurrent" xlink:label="DeferredRevenueLeasesCurrent" xlink:title="DeferredRevenueLeasesCurrent" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DeferredRevenueLeasesCurrent" xlink:title="definition: DisaggregationOfRevenueLineItems to DeferredRevenueLeasesCurrent" order="11.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetNetCurrent" xlink:label="ContractWithCustomerAssetNetCurrent" xlink:title="ContractWithCustomerAssetNetCurrent" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerAssetNetCurrent" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerAssetNetCurrent" order="12.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractWithCustomerAssetRecognitionOfContractAsset" xlink:label="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:title="ContractWithCustomerAssetRecognitionOfContractAsset" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerAssetRecognitionOfContractAsset" order="13.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetReclassifiedToReceivable" xlink:label="ContractWithCustomerAssetReclassifiedToReceivable" xlink:title="ContractWithCustomerAssetReclassifiedToReceivable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerAssetReclassifiedToReceivable" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerAssetReclassifiedToReceivable" order="14.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DisaggregationOfRevenueTable" xlink:title="definition: DisaggregationOfRevenueLineItems to DisaggregationOfRevenueTable" order="15.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="definition: DisaggregationOfRevenueTable to StatementBusinessSegmentsAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain_2" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain_2" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="definition: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="definition: SegmentDomain to LandDevelopmentActivitiesMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OilAndGasLeasesAndWaterSalesPaymentMember" xlink:label="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:title="OilAndGasLeasesAndWaterSalesPaymentMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:title="definition: SegmentDomain to OilAndGasLeasesAndWaterSalesPaymentMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="definition: DisaggregationOfRevenueTable to RelatedPartyTransactionsByRelatedPartyAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain_2" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain_2" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchMember" xlink:label="SkyRanchMember" xlink:title="SkyRanchMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyDomain" xlink:to="SkyRanchMember" xlink:title="definition: RelatedPartyDomain to SkyRanchMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationOilAndGasLeasePaymentsDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationDeferredRevenueDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAbstract" xlink:label="LandAbstract" xlink:title="LandAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="LandAbstract" xlink:title="definition: DisaggregationOfRevenueLineItems to LandAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="ContractWithCustomerLiabilityRevenueRecognized" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerLiabilityRevenueRecognized" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="ContractWithCustomerLiability" xlink:title="ContractWithCustomerLiability" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiability" xlink:title="definition: DisaggregationOfRevenueLineItems to ContractWithCustomerLiability" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfIndustrialWaterCustomers" xlink:label="NumberOfIndustrialWaterCustomers" xlink:title="NumberOfIndustrialWaterCustomers" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfIndustrialWaterCustomers" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfIndustrialWaterCustomers" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_GasAndOilAreaUndevelopedNet" xlink:label="GasAndOilAreaUndevelopedNet" xlink:title="GasAndOilAreaUndevelopedNet" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="GasAndOilAreaUndevelopedNet" xlink:title="definition: DisaggregationOfRevenueLineItems to GasAndOilAreaUndevelopedNet" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredRevenueRevenueRecognizedTerm" xlink:label="DeferredRevenueRevenueRecognizedTerm" xlink:title="DeferredRevenueRevenueRecognizedTerm" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DeferredRevenueRevenueRecognizedTerm" xlink:title="definition: DisaggregationOfRevenueLineItems to DeferredRevenueRevenueRecognizedTerm" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TermForWhichOperatorMayExtendRight" xlink:label="TermForWhichOperatorMayExtendRight" xlink:title="TermForWhichOperatorMayExtendRight" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="TermForWhichOperatorMayExtendRight" xlink:title="definition: DisaggregationOfRevenueLineItems to TermForWhichOperatorMayExtendRight" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:label="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:title="RequiredPaymentFromOperatorForExtendingRightForOneYear" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:title="definition: DisaggregationOfRevenueLineItems to RequiredPaymentFromOperatorForExtendingRightForOneYear" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:label="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:title="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:title="definition: DisaggregationOfRevenueLineItems to NumberOfAdditionalYearsForWhichOperatorMayExtendLease" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MaximumTermOfLease" xlink:label="MaximumTermOfLease" xlink:title="MaximumTermOfLease" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="MaximumTermOfLease" xlink:title="definition: DisaggregationOfRevenueLineItems to MaximumTermOfLease" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DisaggregationOfRevenueTable" xlink:title="definition: DisaggregationOfRevenueLineItems to DisaggregationOfRevenueTable" order="11.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="ProductOrServiceAxis" xlink:title="definition: DisaggregationOfRevenueTable to ProductOrServiceAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain_2" xlink:title="ProductsAndServicesDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain_2" xlink:title="definition: ProductOrServiceAxis to ProductsAndServicesDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OAndGLeaseMember" xlink:label="OAndGLeaseMember" xlink:title="OAndGLeaseMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ProductsAndServicesDomain" xlink:to="OAndGLeaseMember" xlink:title="definition: ProductsAndServicesDomain to OAndGLeaseMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="CounterpartyNameAxis" xlink:title="CounterpartyNameAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="CounterpartyNameAxis" xlink:title="definition: DisaggregationOfRevenueTable to CounterpartyNameAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="RepurchaseAgreementCounterpartyNameDomain" xlink:title="RepurchaseAgreementCounterpartyNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="CounterpartyNameAxis" xlink:to="RepurchaseAgreementCounterpartyNameDomain" xlink:title="definition: CounterpartyNameAxis to RepurchaseAgreementCounterpartyNameDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="RepurchaseAgreementCounterpartyNameDomain_2" xlink:title="RepurchaseAgreementCounterpartyNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="CounterpartyNameAxis" xlink:to="RepurchaseAgreementCounterpartyNameDomain_2" xlink:title="definition: CounterpartyNameAxis to RepurchaseAgreementCounterpartyNameDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_BisonOilAndGasLlpMember" xlink:label="BisonOilAndGasLlpMember" xlink:title="BisonOilAndGasLlpMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RepurchaseAgreementCounterpartyNameDomain" xlink:to="BisonOilAndGasLlpMember" xlink:title="definition: RepurchaseAgreementCounterpartyNameDomain to BisonOilAndGasLlpMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="definition: DisaggregationOfRevenueTable to StatementBusinessSegmentsAxis" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain_2" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain_2" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OilAndGasMember" xlink:label="OilAndGasMember" xlink:title="OilAndGasMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="OilAndGasMember" xlink:title="definition: SegmentDomain to OilAndGasMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="DisaggregationOfRevenueTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="definition: DisaggregationOfRevenueTable to RelatedPartyTransactionsByRelatedPartyAxis" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain_2" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain_2" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchMember" xlink:label="SkyRanchMember" xlink:title="SkyRanchMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyDomain" xlink:to="SkyRanchMember" xlink:title="definition: RelatedPartyDomain to SkyRanchMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="PropertyPlantAndEquipmentLineItems" xlink:title="PropertyPlantAndEquipmentLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:label="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:title="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:title="definition: PropertyPlantAndEquipmentLineItems to CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="PropertyPlantAndEquipmentUsefulLife" xlink:title="PropertyPlantAndEquipmentUsefulLife" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="PropertyPlantAndEquipmentUsefulLife" xlink:title="definition: PropertyPlantAndEquipmentLineItems to PropertyPlantAndEquipmentUsefulLife" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="ScheduleOfPropertyPlantAndEquipmentTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="definition: PropertyPlantAndEquipmentLineItems to ScheduleOfPropertyPlantAndEquipmentTable" order="3.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="RangeAxis" xlink:title="definition: ScheduleOfPropertyPlantAndEquipmentTable to RangeAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="definition: RangeAxis to RangeMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember_2" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RangeAxis" xlink:to="RangeMember_2" xlink:title="definition: RangeAxis to RangeMember_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="definition: RangeMember to MaximumMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationSharebasedCompensationDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationIncomeTaxesDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationEarningsPerCommonShareDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:label="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:title="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:label="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:title="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:to="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:title="definition: NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems to NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAndLiabilitiesLesseeAbstract" xlink:label="AssetsAndLiabilitiesLesseeAbstract" xlink:title="AssetsAndLiabilitiesLesseeAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:to="AssetsAndLiabilitiesLesseeAbstract" xlink:title="definition: NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems to AssetsAndLiabilitiesLesseeAbstract" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="OperatingLeaseRightOfUseAsset" xlink:title="OperatingLeaseRightOfUseAsset" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:to="OperatingLeaseRightOfUseAsset" xlink:title="definition: NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems to OperatingLeaseRightOfUseAsset" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="OperatingLeaseLiability" xlink:title="OperatingLeaseLiability" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:to="OperatingLeaseLiability" xlink:title="definition: NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems to OperatingLeaseLiability" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:label="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:title="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:to="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:title="definition: NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems to NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" order="5.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:label="AdjustmentsForNewAccountingPronouncementsAxis" xlink:title="AdjustmentsForNewAccountingPronouncementsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:to="AdjustmentsForNewAccountingPronouncementsAxis" xlink:title="definition: NewAccountingPronouncementsOrChangeInAccountingPrincipleTable to AdjustmentsForNewAccountingPronouncementsAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="TypeOfAdoptionMember" xlink:title="TypeOfAdoptionMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="AdjustmentsForNewAccountingPronouncementsAxis" xlink:to="TypeOfAdoptionMember" xlink:title="definition: AdjustmentsForNewAccountingPronouncementsAxis to TypeOfAdoptionMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="TypeOfAdoptionMember_2" xlink:title="TypeOfAdoptionMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="AdjustmentsForNewAccountingPronouncementsAxis" xlink:to="TypeOfAdoptionMember_2" xlink:title="definition: AdjustmentsForNewAccountingPronouncementsAxis to TypeOfAdoptionMember_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingStandardsUpdate201602Member" xlink:label="AccountingStandardsUpdate201602Member" xlink:title="AccountingStandardsUpdate201602Member" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="TypeOfAdoptionMember" xlink:to="AccountingStandardsUpdate201602Member" xlink:title="definition: TypeOfAdoptionMember to AccountingStandardsUpdate201602Member" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/FairValueMeasurementsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueNetAssetLiabilityAbstract" xlink:label="FairValueNetAssetLiabilityAbstract" xlink:title="FairValueNetAssetLiabilityAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="FairValueNetAssetLiabilityAbstract" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to FairValueNetAssetLiabilityAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfAssets" xlink:label="NumberOfAssets" xlink:title="NumberOfAssets" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="NumberOfAssets" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to NumberOfAssets" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfLiabilities" xlink:label="NumberOfLiabilities" xlink:title="NumberOfLiabilities" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="NumberOfLiabilities" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to NumberOfLiabilities" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="LiabilitiesFairValueDisclosure" xlink:title="LiabilitiesFairValueDisclosure" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="LiabilitiesFairValueDisclosure" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to LiabilitiesFairValueDisclosure" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="AvailableForSaleSecuritiesDebtSecurities" xlink:title="AvailableForSaleSecuritiesDebtSecurities" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="AvailableForSaleSecuritiesDebtSecurities" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to AvailableForSaleSecuritiesDebtSecurities" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="AssetsFairValueDisclosure" xlink:title="AssetsFairValueDisclosure" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="AssetsFairValueDisclosure" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to AssetsFairValueDisclosure" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:label="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:title="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="HeldToMaturitySecurities" xlink:title="HeldToMaturitySecurities" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="HeldToMaturitySecurities" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to HeldToMaturitySecurities" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" order="9.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="FairValueByMeasurementFrequencyAxis" xlink:title="FairValueByMeasurementFrequencyAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FairValueByMeasurementFrequencyAxis" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FairValueByMeasurementFrequencyAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="FairValueMeasurementFrequencyDomain" xlink:title="FairValueMeasurementFrequencyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="FairValueByMeasurementFrequencyAxis" xlink:to="FairValueMeasurementFrequencyDomain" xlink:title="definition: FairValueByMeasurementFrequencyAxis to FairValueMeasurementFrequencyDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="FairValueMeasurementFrequencyDomain_2" xlink:title="FairValueMeasurementFrequencyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="FairValueByMeasurementFrequencyAxis" xlink:to="FairValueMeasurementFrequencyDomain_2" xlink:title="definition: FairValueByMeasurementFrequencyAxis to FairValueMeasurementFrequencyDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsRecurringMember" xlink:label="FairValueMeasurementsRecurringMember" xlink:title="FairValueMeasurementsRecurringMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueMeasurementFrequencyDomain" xlink:to="FairValueMeasurementsRecurringMember" xlink:title="definition: FairValueMeasurementFrequencyDomain to FairValueMeasurementsRecurringMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="FairValueByMeasurementBasisAxis" xlink:title="FairValueByMeasurementBasisAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FairValueByMeasurementBasisAxis" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FairValueByMeasurementBasisAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain" xlink:label="FairValueDisclosureItemAmountsDomain" xlink:title="FairValueDisclosureItemAmountsDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="FairValueByMeasurementBasisAxis" xlink:to="FairValueDisclosureItemAmountsDomain" xlink:title="definition: FairValueByMeasurementBasisAxis to FairValueDisclosureItemAmountsDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="PortionAtFairValueFairValueDisclosureMember" xlink:title="PortionAtFairValueFairValueDisclosureMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="PortionAtFairValueFairValueDisclosureMember" xlink:title="definition: FairValueDisclosureItemAmountsDomain to PortionAtFairValueFairValueDisclosureMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="PortionAtFairValueFairValueDisclosureMember_2" xlink:title="PortionAtFairValueFairValueDisclosureMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="FairValueByMeasurementBasisAxis" xlink:to="PortionAtFairValueFairValueDisclosureMember_2" xlink:title="definition: FairValueByMeasurementBasisAxis to PortionAtFairValueFairValueDisclosureMember_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="EstimateOfFairValueFairValueDisclosureMember" xlink:title="EstimateOfFairValueFairValueDisclosureMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="EstimateOfFairValueFairValueDisclosureMember" xlink:title="definition: FairValueDisclosureItemAmountsDomain to EstimateOfFairValueFairValueDisclosureMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="CarryingReportedAmountFairValueDisclosureMember" xlink:title="CarryingReportedAmountFairValueDisclosureMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="CarryingReportedAmountFairValueDisclosureMember" xlink:title="definition: FairValueDisclosureItemAmountsDomain to CarryingReportedAmountFairValueDisclosureMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="FairValueByFairValueHierarchyLevelAxis" xlink:title="FairValueByFairValueHierarchyLevelAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FairValueByFairValueHierarchyLevelAxis" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FairValueByFairValueHierarchyLevelAxis" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="FairValueMeasurementsFairValueHierarchyDomain" xlink:title="FairValueMeasurementsFairValueHierarchyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="FairValueByFairValueHierarchyLevelAxis" xlink:to="FairValueMeasurementsFairValueHierarchyDomain" xlink:title="definition: FairValueByFairValueHierarchyLevelAxis to FairValueMeasurementsFairValueHierarchyDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="FairValueMeasurementsFairValueHierarchyDomain_2" xlink:title="FairValueMeasurementsFairValueHierarchyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="FairValueByFairValueHierarchyLevelAxis" xlink:to="FairValueMeasurementsFairValueHierarchyDomain_2" xlink:title="definition: FairValueByFairValueHierarchyLevelAxis to FairValueMeasurementsFairValueHierarchyDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="FairValueInputsLevel1Member" xlink:title="FairValueInputsLevel1Member" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="FairValueInputsLevel1Member" xlink:title="definition: FairValueMeasurementsFairValueHierarchyDomain to FairValueInputsLevel1Member" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="FairValueInputsLevel2Member" xlink:title="FairValueInputsLevel2Member" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="FairValueInputsLevel2Member" xlink:title="definition: FairValueMeasurementsFairValueHierarchyDomain to FairValueInputsLevel2Member" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="FairValueInputsLevel3Member" xlink:title="FairValueInputsLevel3Member" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="FairValueInputsLevel3Member" xlink:title="definition: FairValueMeasurementsFairValueHierarchyDomain to FairValueInputsLevel3Member" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="FinancialInstrumentAxis" xlink:title="FinancialInstrumentAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FinancialInstrumentAxis" xlink:title="definition: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FinancialInstrumentAxis" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:title="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="FinancialInstrumentAxis" xlink:to="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:title="definition: FinancialInstrumentAxis to TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_2" xlink:title="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="FinancialInstrumentAxis" xlink:to="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_2" xlink:title="definition: FinancialInstrumentAxis to TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_USTreasuryAndGovernmentMember" xlink:label="USTreasuryAndGovernmentMember" xlink:title="USTreasuryAndGovernmentMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="USTreasuryAndGovernmentMember" xlink:title="definition: TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain to USTreasuryAndGovernmentMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_USTreasurySecuritiesMember" xlink:label="USTreasurySecuritiesMember" xlink:title="USTreasurySecuritiesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="USTreasuryAndGovernmentMember" xlink:to="USTreasurySecuritiesMember" xlink:title="definition: USTreasuryAndGovernmentMember to USTreasurySecuritiesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="CertificatesOfDepositMember" xlink:title="CertificatesOfDepositMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="USTreasuryAndGovernmentMember" xlink:to="CertificatesOfDepositMember" xlink:title="definition: USTreasuryAndGovernmentMember to CertificatesOfDepositMember" order="2.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/WaterAndLandAssetsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="PropertyPlantAndEquipmentLineItems" xlink:title="PropertyPlantAndEquipmentLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:label="PropertyPlantAndEquipmentNetAbstract" xlink:title="PropertyPlantAndEquipmentNetAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="PropertyPlantAndEquipmentNetAbstract" xlink:title="definition: PropertyPlantAndEquipmentLineItems to PropertyPlantAndEquipmentNetAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortizationAbstract" xlink:label="DepreciationAndAmortizationAbstract" xlink:title="DepreciationAndAmortizationAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="DepreciationAndAmortizationAbstract" xlink:title="definition: PropertyPlantAndEquipmentLineItems to DepreciationAndAmortizationAbstract" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Depreciation" xlink:label="Depreciation" xlink:title="Depreciation" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="Depreciation" xlink:title="definition: PropertyPlantAndEquipmentLineItems to Depreciation" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="PropertyPlantAndEquipmentGross" xlink:title="PropertyPlantAndEquipmentGross" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="PropertyPlantAndEquipmentGross" xlink:title="definition: PropertyPlantAndEquipmentLineItems to PropertyPlantAndEquipmentGross" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:title="definition: PropertyPlantAndEquipmentLineItems to AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="PropertyPlantAndEquipmentNet" xlink:title="definition: PropertyPlantAndEquipmentLineItems to PropertyPlantAndEquipmentNet" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="ScheduleOfPropertyPlantAndEquipmentTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="definition: PropertyPlantAndEquipmentLineItems to ScheduleOfPropertyPlantAndEquipmentTable" order="7.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="PropertyPlantAndEquipmentByTypeAxis" xlink:title="PropertyPlantAndEquipmentByTypeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="PropertyPlantAndEquipmentByTypeAxis" xlink:title="definition: ScheduleOfPropertyPlantAndEquipmentTable to PropertyPlantAndEquipmentByTypeAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="PropertyPlantAndEquipmentTypeDomain" xlink:title="PropertyPlantAndEquipmentTypeDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="PropertyPlantAndEquipmentByTypeAxis" xlink:to="PropertyPlantAndEquipmentTypeDomain" xlink:title="definition: PropertyPlantAndEquipmentByTypeAxis to PropertyPlantAndEquipmentTypeDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="PropertyPlantAndEquipmentTypeDomain_2" xlink:title="PropertyPlantAndEquipmentTypeDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="PropertyPlantAndEquipmentByTypeAxis" xlink:to="PropertyPlantAndEquipmentTypeDomain_2" xlink:title="definition: PropertyPlantAndEquipmentByTypeAxis to PropertyPlantAndEquipmentTypeDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewWaterSupplyMember" xlink:label="RangeviewWaterSupplyMember" xlink:title="RangeviewWaterSupplyMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="RangeviewWaterSupplyMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to RangeviewWaterSupplyMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchWaterRightsAndOtherCostsMember" xlink:label="SkyRanchWaterRightsAndOtherCostsMember" xlink:title="SkyRanchWaterRightsAndOtherCostsMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="SkyRanchWaterRightsAndOtherCostsMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to SkyRanchWaterRightsAndOtherCostsMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FairgroundsWaterAndWaterSystemMember" xlink:label="FairgroundsWaterAndWaterSystemMember" xlink:title="FairgroundsWaterAndWaterSystemMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="FairgroundsWaterAndWaterSystemMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to FairgroundsWaterAndWaterSystemMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewWaterSystemMember" xlink:label="RangeviewWaterSystemMember" xlink:title="RangeviewWaterSystemMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="RangeviewWaterSystemMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to RangeviewWaterSystemMember" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterSupplyOtherMember" xlink:label="WaterSupplyOtherMember" xlink:title="WaterSupplyOtherMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="WaterSupplyOtherMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to WaterSupplyOtherMember" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WildPointeServiceRightsMember" xlink:label="WildPointeServiceRightsMember" xlink:title="WildPointeServiceRightsMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="WildPointeServiceRightsMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to WildPointeServiceRightsMember" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchPipelineMember" xlink:label="SkyRanchPipelineMember" xlink:title="SkyRanchPipelineMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="SkyRanchPipelineMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to SkyRanchPipelineMember" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LostCreekWaterSupplyMember" xlink:label="LostCreekWaterSupplyMember" xlink:title="LostCreekWaterSupplyMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="LostCreekWaterSupplyMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to LostCreekWaterSupplyMember" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:label="ConstructionInProgressMember" xlink:title="ConstructionInProgressMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="ConstructionInProgressMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to ConstructionInProgressMember" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherMachineryAndEquipmentMember" xlink:label="OtherMachineryAndEquipmentMember" xlink:title="OtherMachineryAndEquipmentMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="OtherMachineryAndEquipmentMember" xlink:title="definition: PropertyPlantAndEquipmentTypeDomain to OtherMachineryAndEquipmentMember" order="10.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLongtermObligationsDetails">
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAgreementLineItems" xlink:label="PartnershipAgreementLineItems" xlink:title="PartnershipAgreementLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAbstract" xlink:label="PartnershipAbstract" xlink:title="PartnershipAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PartnershipAgreementLineItems" xlink:to="PartnershipAbstract" xlink:title="definition: PartnershipAgreementLineItems to PartnershipAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:label="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:title="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PartnershipAgreementLineItems" xlink:to="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:title="definition: PartnershipAgreementLineItems to NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfMembersToDeliverWater" xlink:label="NumberOfMembersToDeliverWater" xlink:title="NumberOfMembersToDeliverWater" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PartnershipAgreementLineItems" xlink:to="NumberOfMembersToDeliverWater" xlink:title="definition: PartnershipAgreementLineItems to NumberOfMembersToDeliverWater" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_VolumeOfWaterPurchased" xlink:label="VolumeOfWaterPurchased" xlink:title="VolumeOfWaterPurchased" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PartnershipAgreementLineItems" xlink:to="VolumeOfWaterPurchased" xlink:title="definition: PartnershipAgreementLineItems to VolumeOfWaterPurchased" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems" xlink:label="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="PaymentsToAcquireWaterAndWasteWaterSystems" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PartnershipAgreementLineItems" xlink:to="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="definition: PartnershipAgreementLineItems to PaymentsToAcquireWaterAndWasteWaterSystems" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectedCostOfParticipationAgreement" xlink:label="ProjectedCostOfParticipationAgreement" xlink:title="ProjectedCostOfParticipationAgreement" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PartnershipAgreementLineItems" xlink:to="ProjectedCostOfParticipationAgreement" xlink:title="definition: PartnershipAgreementLineItems to ProjectedCostOfParticipationAgreement" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:label="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="PeriodOfFinancingOfPartnershipParticipationAgreement" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PartnershipAgreementLineItems" xlink:to="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="definition: PartnershipAgreementLineItems to PeriodOfFinancingOfPartnershipParticipationAgreement" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAgreementTable" xlink:label="PartnershipAgreementTable" xlink:title="PartnershipAgreementTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="PartnershipAgreementLineItems" xlink:to="PartnershipAgreementTable" xlink:title="definition: PartnershipAgreementLineItems to PartnershipAgreementTable" order="8.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="PartnershipAgreementTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="definition: PartnershipAgreementTable to RelatedPartyTransactionsByRelatedPartyAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain_2" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain_2" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewDistrictMember" xlink:label="RangeviewDistrictMember" xlink:title="RangeviewDistrictMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyDomain" xlink:to="RangeviewDistrictMember" xlink:title="definition: RelatedPartyDomain to RangeviewDistrictMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="RelatedPartyTransactionAxis" xlink:title="RelatedPartyTransactionAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="PartnershipAgreementTable" xlink:to="RelatedPartyTransactionAxis" xlink:title="definition: PartnershipAgreementTable to RelatedPartyTransactionAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain" xlink:title="RelatedPartyTransactionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain" xlink:title="definition: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain_2" xlink:title="RelatedPartyTransactionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain_2" xlink:title="definition: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterServicesMember" xlink:label="WaterAndWastewaterServicesMember" xlink:title="WaterAndWastewaterServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="WaterAndWastewaterServicesMember" xlink:title="definition: RelatedPartyTransactionDomain to WaterAndWastewaterServicesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WisePartnershipMember" xlink:label="WisePartnershipMember" xlink:title="WisePartnershipMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="WisePartnershipMember" xlink:title="definition: RelatedPartyTransactionDomain to WisePartnershipMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SouthMetroWiseAuthorityMember" xlink:label="SouthMetroWiseAuthorityMember" xlink:title="SouthMetroWiseAuthorityMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="SouthMetroWiseAuthorityMember" xlink:title="definition: RelatedPartyTransactionDomain to SouthMetroWiseAuthorityMember" order="3.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquityEquityCompensationPlanDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" order="11.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" order="12.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfBoardMembers" xlink:label="NumberOfBoardMembers" xlink:title="NumberOfBoardMembers" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="NumberOfBoardMembers" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to NumberOfBoardMembers" order="13.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharePrice" xlink:label="SharePrice" xlink:title="SharePrice" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharePrice" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharePrice" order="14.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensation" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensation" order="15.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" order="16.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" order="17.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" order="18.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" order="19.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" order="21.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" order="22.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="StockIssuedDuringPeriodSharesStockOptionsExercised" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to StockIssuedDuringPeriodSharesStockOptionsExercised" order="23.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" order="24.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" order="25.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" order="26.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="PlanNameAxis" xlink:title="PlanNameAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="PlanNameAxis" xlink:title="definition: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to PlanNameAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="PlanNameDomain" xlink:title="PlanNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="PlanNameAxis" xlink:to="PlanNameDomain" xlink:title="definition: PlanNameAxis to PlanNameDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="PlanNameDomain_2" xlink:title="PlanNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="PlanNameAxis" xlink:to="PlanNameDomain_2" xlink:title="definition: PlanNameAxis to PlanNameDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EquityIncentivePlan2014Member" xlink:label="EquityIncentivePlan2014Member" xlink:title="EquityIncentivePlan2014Member" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PlanNameDomain" xlink:to="EquityIncentivePlan2014Member" xlink:title="definition: PlanNameDomain to EquityIncentivePlan2014Member" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncentivePlan2004AndEquityPlan2014Member" xlink:label="IncentivePlan2004AndEquityPlan2014Member" xlink:title="IncentivePlan2004AndEquityPlan2014Member" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PlanNameDomain" xlink:to="IncentivePlan2004AndEquityPlan2014Member" xlink:title="definition: PlanNameDomain to IncentivePlan2004AndEquityPlan2014Member" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_TitleOfIndividualAxis" xlink:label="TitleOfIndividualAxis" xlink:title="TitleOfIndividualAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="TitleOfIndividualAxis" xlink:title="definition: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to TitleOfIndividualAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="TitleOfIndividualWithRelationshipToEntityDomain" xlink:title="TitleOfIndividualWithRelationshipToEntityDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="TitleOfIndividualAxis" xlink:to="TitleOfIndividualWithRelationshipToEntityDomain" xlink:title="definition: TitleOfIndividualAxis to TitleOfIndividualWithRelationshipToEntityDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="TitleOfIndividualWithRelationshipToEntityDomain_2" xlink:title="TitleOfIndividualWithRelationshipToEntityDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="TitleOfIndividualAxis" xlink:to="TitleOfIndividualWithRelationshipToEntityDomain_2" xlink:title="definition: TitleOfIndividualAxis to TitleOfIndividualWithRelationshipToEntityDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SeniorManagementMember" xlink:label="SeniorManagementMember" xlink:title="SeniorManagementMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="SeniorManagementMember" xlink:title="definition: TitleOfIndividualWithRelationshipToEntityDomain to SeniorManagementMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EmployeeMember" xlink:label="EmployeeMember" xlink:title="EmployeeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="EmployeeMember" xlink:title="definition: TitleOfIndividualWithRelationshipToEntityDomain to EmployeeMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NonEmployeeMember" xlink:label="NonEmployeeMember" xlink:title="NonEmployeeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="NonEmployeeMember" xlink:title="definition: TitleOfIndividualWithRelationshipToEntityDomain to NonEmployeeMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="RangeAxis" xlink:title="definition: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to RangeAxis" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="definition: RangeAxis to RangeMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember_2" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RangeAxis" xlink:to="RangeMember_2" xlink:title="definition: RangeAxis to RangeMember_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="definition: RangeMember to MaximumMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensation" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensation" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:title="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" order="11.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" order="12.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" order="13.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" order="14.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="definition: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" order="15.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="PlanNameAxis" xlink:title="PlanNameAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="PlanNameAxis" xlink:title="definition: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to PlanNameAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="PlanNameDomain" xlink:title="PlanNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="PlanNameAxis" xlink:to="PlanNameDomain" xlink:title="definition: PlanNameAxis to PlanNameDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="PlanNameDomain_2" xlink:title="PlanNameDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="PlanNameAxis" xlink:to="PlanNameDomain_2" xlink:title="definition: PlanNameAxis to PlanNameDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncentivePlan2004AndEquityPlan2014Member" xlink:label="IncentivePlan2004AndEquityPlan2014Member" xlink:title="IncentivePlan2004AndEquityPlan2014Member" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="PlanNameDomain" xlink:to="IncentivePlan2004AndEquityPlan2014Member" xlink:title="definition: PlanNameDomain to IncentivePlan2004AndEquityPlan2014Member" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/RelatedPartyTransactionsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="RelatedPartyTransactionLineItems" xlink:title="RelatedPartyTransactionLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:label="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="RelatedPartyTransactionDueFromToRelatedPartyAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="definition: RelatedPartyTransactionLineItems to RelatedPartyTransactionDueFromToRelatedPartyAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfEmployeeBoardOfDirectors" xlink:label="NumberOfEmployeeBoardOfDirectors" xlink:title="NumberOfEmployeeBoardOfDirectors" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="NumberOfEmployeeBoardOfDirectors" xlink:title="definition: RelatedPartyTransactionLineItems to NumberOfEmployeeBoardOfDirectors" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfIndependentBoardOfDirectors" xlink:label="NumberOfIndependentBoardOfDirectors" xlink:title="NumberOfIndependentBoardOfDirectors" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="NumberOfIndependentBoardOfDirectors" xlink:title="definition: RelatedPartyTransactionLineItems to NumberOfIndependentBoardOfDirectors" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="RelatedPartyTransactionAmountsOfTransaction" xlink:title="RelatedPartyTransactionAmountsOfTransaction" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="RelatedPartyTransactionAmountsOfTransaction" xlink:title="definition: RelatedPartyTransactionLineItems to RelatedPartyTransactionAmountsOfTransaction" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_VolumeOfWaterPurchased" xlink:label="VolumeOfWaterPurchased" xlink:title="VolumeOfWaterPurchased" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="VolumeOfWaterPurchased" xlink:title="definition: RelatedPartyTransactionLineItems to VolumeOfWaterPurchased" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems" xlink:label="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="PaymentsToAcquireWaterAndWasteWaterSystems" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="definition: RelatedPartyTransactionLineItems to PaymentsToAcquireWaterAndWasteWaterSystems" order="6.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectedCostOfParticipationAgreement" xlink:label="ProjectedCostOfParticipationAgreement" xlink:title="ProjectedCostOfParticipationAgreement" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="ProjectedCostOfParticipationAgreement" xlink:title="definition: RelatedPartyTransactionLineItems to ProjectedCostOfParticipationAgreement" order="7.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:label="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="PeriodOfFinancingOfPartnershipParticipationAgreement" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="definition: RelatedPartyTransactionLineItems to PeriodOfFinancingOfPartnershipParticipationAgreement" order="8.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:title="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:title="definition: RelatedPartyTransactionLineItems to InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" order="9.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LoanExtendedMaximumCapacity" xlink:label="LoanExtendedMaximumCapacity" xlink:title="LoanExtendedMaximumCapacity" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="LoanExtendedMaximumCapacity" xlink:title="definition: RelatedPartyTransactionLineItems to LoanExtendedMaximumCapacity" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="DebtInstrumentBasisSpreadOnVariableRate1" xlink:title="DebtInstrumentBasisSpreadOnVariableRate1" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="DebtInstrumentBasisSpreadOnVariableRate1" xlink:title="definition: RelatedPartyTransactionLineItems to DebtInstrumentBasisSpreadOnVariableRate1" order="11.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="DebtInstrumentInterestRateStatedPercentage" xlink:title="DebtInstrumentInterestRateStatedPercentage" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="DebtInstrumentInterestRateStatedPercentage" xlink:title="definition: RelatedPartyTransactionLineItems to DebtInstrumentInterestRateStatedPercentage" order="12.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="DebtInstrumentMaturityDate" xlink:title="DebtInstrumentMaturityDate" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="DebtInstrumentMaturityDate" xlink:title="definition: RelatedPartyTransactionLineItems to DebtInstrumentMaturityDate" order="13.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DebtInstrumentRenewalTerm" xlink:label="DebtInstrumentRenewalTerm" xlink:title="DebtInstrumentRenewalTerm" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="DebtInstrumentRenewalTerm" xlink:title="definition: RelatedPartyTransactionLineItems to DebtInstrumentRenewalTerm" order="14.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableRelatedParties" xlink:label="NotesReceivableRelatedParties" xlink:title="NotesReceivableRelatedParties" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="NotesReceivableRelatedParties" xlink:title="definition: RelatedPartyTransactionLineItems to NotesReceivableRelatedParties" order="15.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NotesReceivableRelatedPartiesPrincipal" xlink:label="NotesReceivableRelatedPartiesPrincipal" xlink:title="NotesReceivableRelatedPartiesPrincipal" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="NotesReceivableRelatedPartiesPrincipal" xlink:title="definition: RelatedPartyTransactionLineItems to NotesReceivableRelatedPartiesPrincipal" order="16.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NotesReceivableRelatedPartiesAccruedInterest" xlink:label="NotesReceivableRelatedPartiesAccruedInterest" xlink:title="NotesReceivableRelatedPartiesAccruedInterest" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="NotesReceivableRelatedPartiesAccruedInterest" xlink:title="definition: RelatedPartyTransactionLineItems to NotesReceivableRelatedPartiesAccruedInterest" order="17.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyEstimatedCost" xlink:label="RelatedPartyEstimatedCost" xlink:title="RelatedPartyEstimatedCost" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="RelatedPartyEstimatedCost" xlink:title="definition: RelatedPartyTransactionLineItems to RelatedPartyEstimatedCost" order="18.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:title="definition: RelatedPartyTransactionLineItems to RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" order="19.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:title="definition: RelatedPartyTransactionLineItems to RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionLineItems" xlink:to="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:title="definition: RelatedPartyTransactionLineItems to RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" order="21.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="RelatedPartyTransactionLineItems" xlink:to="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="definition: RelatedPartyTransactionLineItems to ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" order="22.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="definition: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RelatedPartyTransactionsByRelatedPartyAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain_2" xlink:title="RelatedPartyDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain_2" xlink:title="definition: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewDistrictMember" xlink:label="RangeviewDistrictMember" xlink:title="RangeviewDistrictMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyDomain" xlink:to="RangeviewDistrictMember" xlink:title="definition: RelatedPartyDomain to RangeviewDistrictMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchMember" xlink:label="SkyRanchMember" xlink:title="SkyRanchMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyDomain" xlink:to="SkyRanchMember" xlink:title="definition: RelatedPartyDomain to SkyRanchMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="RelatedPartyTransactionAxis" xlink:title="RelatedPartyTransactionAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RelatedPartyTransactionAxis" xlink:title="definition: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RelatedPartyTransactionAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain" xlink:title="RelatedPartyTransactionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain" xlink:title="definition: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain_2" xlink:title="RelatedPartyTransactionDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain_2" xlink:title="definition: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterServicesMember" xlink:label="WaterAndWastewaterServicesMember" xlink:title="WaterAndWastewaterServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="WaterAndWastewaterServicesMember" xlink:title="definition: RelatedPartyTransactionDomain to WaterAndWastewaterServicesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WisePartnershipMember" xlink:label="WisePartnershipMember" xlink:title="WisePartnershipMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="WisePartnershipMember" xlink:title="definition: RelatedPartyTransactionDomain to WisePartnershipMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FacilitiesFundingAndAcquisitionAgreementMember" xlink:label="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="FacilitiesFundingAndAcquisitionAgreementMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="definition: RelatedPartyTransactionDomain to FacilitiesFundingAndAcquisitionAgreementMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CommunityAuthorityBoardMember" xlink:label="CommunityAuthorityBoardMember" xlink:title="CommunityAuthorityBoardMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RelatedPartyTransactionDomain" xlink:to="CommunityAuthorityBoardMember" xlink:title="definition: RelatedPartyTransactionDomain to CommunityAuthorityBoardMember" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:title="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:title="definition: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="ReceivableTypeDomain" xlink:title="ReceivableTypeDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="ReceivableTypeDomain" xlink:title="definition: AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis to ReceivableTypeDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="ReceivableTypeDomain_2" xlink:title="ReceivableTypeDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="ReceivableTypeDomain_2" xlink:title="definition: AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis to ReceivableTypeDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LoansReceivableMember" xlink:label="LoansReceivableMember" xlink:title="LoansReceivableMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ReceivableTypeDomain" xlink:to="LoansReceivableMember" xlink:title="definition: ReceivableTypeDomain to LoansReceivableMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableMember" xlink:label="NotesReceivableMember" xlink:title="NotesReceivableMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ReceivableTypeDomain" xlink:to="NotesReceivableMember" xlink:title="definition: ReceivableTypeDomain to NotesReceivableMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="VariableRateAxis" xlink:title="VariableRateAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="VariableRateAxis" xlink:title="definition: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to VariableRateAxis" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="VariableRateDomain" xlink:title="VariableRateDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="VariableRateAxis" xlink:to="VariableRateDomain" xlink:title="definition: VariableRateAxis to VariableRateDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="VariableRateDomain_2" xlink:title="VariableRateDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="VariableRateAxis" xlink:to="VariableRateDomain_2" xlink:title="definition: VariableRateAxis to VariableRateDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PrimeRateMember" xlink:label="PrimeRateMember" xlink:title="PrimeRateMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="VariableRateDomain" xlink:to="PrimeRateMember" xlink:title="definition: VariableRateDomain to PrimeRateMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RangeAxis" xlink:title="definition: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RangeAxis" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="definition: RangeAxis to RangeMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember_2" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RangeAxis" xlink:to="RangeMember_2" xlink:title="definition: RangeAxis to RangeMember_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="definition: RangeMember to MaximumMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SignificantCustomersDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskLineItems" xlink:label="ConcentrationRiskLineItems" xlink:title="ConcentrationRiskLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConcentrationRiskPercentageAbstract" xlink:label="ConcentrationRiskPercentageAbstract" xlink:title="ConcentrationRiskPercentageAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConcentrationRiskLineItems" xlink:to="ConcentrationRiskPercentageAbstract" xlink:title="definition: ConcentrationRiskLineItems to ConcentrationRiskPercentageAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="ConcentrationRiskPercentage1" xlink:title="ConcentrationRiskPercentage1" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConcentrationRiskLineItems" xlink:to="ConcentrationRiskPercentage1" xlink:title="definition: ConcentrationRiskLineItems to ConcentrationRiskPercentage1" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfCustomers" xlink:label="NumberOfCustomers" xlink:title="NumberOfCustomers" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConcentrationRiskLineItems" xlink:to="NumberOfCustomers" xlink:title="definition: ConcentrationRiskLineItems to NumberOfCustomers" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskTable" xlink:label="ConcentrationRiskTable" xlink:title="ConcentrationRiskTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="ConcentrationRiskLineItems" xlink:to="ConcentrationRiskTable" xlink:title="definition: ConcentrationRiskLineItems to ConcentrationRiskTable" order="4.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="ConcentrationRiskByBenchmarkAxis" xlink:title="ConcentrationRiskByBenchmarkAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ConcentrationRiskTable" xlink:to="ConcentrationRiskByBenchmarkAxis" xlink:title="definition: ConcentrationRiskTable to ConcentrationRiskByBenchmarkAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="ConcentrationRiskBenchmarkDomain" xlink:title="ConcentrationRiskBenchmarkDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ConcentrationRiskByBenchmarkAxis" xlink:to="ConcentrationRiskBenchmarkDomain" xlink:title="definition: ConcentrationRiskByBenchmarkAxis to ConcentrationRiskBenchmarkDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="ConcentrationRiskBenchmarkDomain_2" xlink:title="ConcentrationRiskBenchmarkDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ConcentrationRiskByBenchmarkAxis" xlink:to="ConcentrationRiskBenchmarkDomain_2" xlink:title="definition: ConcentrationRiskByBenchmarkAxis to ConcentrationRiskBenchmarkDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SalesMember" xlink:label="SalesMember" xlink:title="SalesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="SalesMember" xlink:title="definition: ConcentrationRiskBenchmarkDomain to SalesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SalesRevenueNetMember" xlink:label="SalesRevenueNetMember" xlink:title="SalesRevenueNetMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="SalesRevenueNetMember" xlink:title="definition: ConcentrationRiskBenchmarkDomain to SalesRevenueNetMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableMember" xlink:label="AccountsReceivableMember" xlink:title="AccountsReceivableMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="AccountsReceivableMember" xlink:title="definition: ConcentrationRiskBenchmarkDomain to AccountsReceivableMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ConcentrationRiskTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="definition: ConcentrationRiskTable to StatementBusinessSegmentsAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain_2" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain_2" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="definition: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="definition: SegmentDomain to LandDevelopmentActivitiesMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MajorCustomersAxis" xlink:label="MajorCustomersAxis" xlink:title="MajorCustomersAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ConcentrationRiskTable" xlink:to="MajorCustomersAxis" xlink:title="definition: ConcentrationRiskTable to MajorCustomersAxis" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_NameOfMajorCustomerDomain" xlink:label="NameOfMajorCustomerDomain" xlink:title="NameOfMajorCustomerDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="MajorCustomersAxis" xlink:to="NameOfMajorCustomerDomain" xlink:title="definition: MajorCustomersAxis to NameOfMajorCustomerDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_NameOfMajorCustomerDomain" xlink:label="NameOfMajorCustomerDomain_2" xlink:title="NameOfMajorCustomerDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="MajorCustomersAxis" xlink:to="NameOfMajorCustomerDomain_2" xlink:title="definition: MajorCustomersAxis to NameOfMajorCustomerDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewDistrictMember" xlink:label="RangeviewDistrictMember" xlink:title="RangeviewDistrictMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NameOfMajorCustomerDomain" xlink:to="RangeviewDistrictMember" xlink:title="definition: NameOfMajorCustomerDomain to RangeviewDistrictMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerOneMember" xlink:label="CustomerOneMember" xlink:title="CustomerOneMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NameOfMajorCustomerDomain" xlink:to="CustomerOneMember" xlink:title="definition: NameOfMajorCustomerDomain to CustomerOneMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerTwoMember" xlink:label="CustomerTwoMember" xlink:title="CustomerTwoMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NameOfMajorCustomerDomain" xlink:to="CustomerTwoMember" xlink:title="definition: NameOfMajorCustomerDomain to CustomerTwoMember" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerThreeMember" xlink:label="CustomerThreeMember" xlink:title="CustomerThreeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NameOfMajorCustomerDomain" xlink:to="CustomerThreeMember" xlink:title="definition: NameOfMajorCustomerDomain to CustomerThreeMember" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OneOtherCustomerMember" xlink:label="OneOtherCustomerMember" xlink:title="OneOtherCustomerMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="NameOfMajorCustomerDomain" xlink:to="OneOtherCustomerMember" xlink:title="definition: NameOfMajorCustomerDomain to OneOtherCustomerMember" order="5.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RidgeviewYouthServicesCenterMember" xlink:label="RidgeviewYouthServicesCenterMember" xlink:title="RidgeviewYouthServicesCenterMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeviewDistrictMember" xlink:to="RidgeviewYouthServicesCenterMember" xlink:title="definition: RangeviewDistrictMember to RidgeviewYouthServicesCenterMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchCommunityDevelopmentMember" xlink:label="SkyRanchCommunityDevelopmentMember" xlink:title="SkyRanchCommunityDevelopmentMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeviewDistrictMember" xlink:to="SkyRanchCommunityDevelopmentMember" xlink:title="definition: RangeviewDistrictMember to SkyRanchCommunityDevelopmentMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ElbertHighway86CommercialDistrictMember" xlink:label="ElbertHighway86CommercialDistrictMember" xlink:title="ElbertHighway86CommercialDistrictMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeviewDistrictMember" xlink:to="ElbertHighway86CommercialDistrictMember" xlink:title="definition: RangeviewDistrictMember to ElbertHighway86CommercialDistrictMember" order="3.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/AccruedLiabilitiesDetails" />
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentInformationRevenueBySegmentsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="SegmentReportingInformationLineItems" xlink:title="SegmentReportingInformationLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationRevenueAbstract" xlink:label="SegmentReportingInformationRevenueAbstract" xlink:title="SegmentReportingInformationRevenueAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentReportingInformationLineItems" xlink:to="SegmentReportingInformationRevenueAbstract" xlink:title="definition: SegmentReportingInformationLineItems to SegmentReportingInformationRevenueAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentReportingInformationLineItems" xlink:to="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="definition: SegmentReportingInformationLineItems to RevenueFromContractWithCustomerExcludingAssessedTax" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="SegmentReportingInformationLineItems" xlink:to="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="definition: SegmentReportingInformationLineItems to ScheduleOfSegmentReportingInformationBySegmentTable" order="3.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="definition: ScheduleOfSegmentReportingInformationBySegmentTable to StatementBusinessSegmentsAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain_2" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain_2" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="definition: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="definition: SegmentDomain to LandDevelopmentActivitiesMember" order="2.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="SegmentReportingInformationLineItems" xlink:title="SegmentReportingInformationLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:label="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:title="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentReportingInformationLineItems" xlink:to="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:title="definition: SegmentReportingInformationLineItems to SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentReportingInformationLineItems" xlink:to="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="definition: SegmentReportingInformationLineItems to IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="SegmentReportingInformationLineItems" xlink:to="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="definition: SegmentReportingInformationLineItems to ScheduleOfSegmentReportingInformationBySegmentTable" order="3.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="definition: ScheduleOfSegmentReportingInformationBySegmentTable to StatementBusinessSegmentsAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain_2" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain_2" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="definition: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="definition: SegmentDomain to LandDevelopmentActivitiesMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="ConsolidationItemsAxis" xlink:title="ConsolidationItemsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="ConsolidationItemsAxis" xlink:title="definition: ScheduleOfSegmentReportingInformationBySegmentTable to ConsolidationItemsAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="ConsolidationItemsDomain" xlink:title="ConsolidationItemsDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ConsolidationItemsAxis" xlink:to="ConsolidationItemsDomain" xlink:title="definition: ConsolidationItemsAxis to ConsolidationItemsDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="ConsolidationItemsDomain_2" xlink:title="ConsolidationItemsDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ConsolidationItemsAxis" xlink:to="ConsolidationItemsDomain_2" xlink:title="definition: ConsolidationItemsAxis to ConsolidationItemsDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="CorporateNonSegmentMember" xlink:title="CorporateNonSegmentMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConsolidationItemsDomain" xlink:to="CorporateNonSegmentMember" xlink:title="definition: ConsolidationItemsDomain to CorporateNonSegmentMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentReportingCorporateAssetsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="SegmentReportingInformationLineItems" xlink:title="SegmentReportingInformationLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationAdditionalInformationAbstract" xlink:label="SegmentReportingInformationAdditionalInformationAbstract" xlink:title="SegmentReportingInformationAdditionalInformationAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentReportingInformationLineItems" xlink:to="SegmentReportingInformationAdditionalInformationAbstract" xlink:title="definition: SegmentReportingInformationLineItems to SegmentReportingInformationAdditionalInformationAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentReportingInformationLineItems" xlink:to="Assets" xlink:title="definition: SegmentReportingInformationLineItems to Assets" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:label="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:title="ReconciliationOfAssetsFromSegmentToConsolidatedTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="SegmentReportingInformationLineItems" xlink:to="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:title="definition: SegmentReportingInformationLineItems to ReconciliationOfAssetsFromSegmentToConsolidatedTable" order="3.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="definition: ReconciliationOfAssetsFromSegmentToConsolidatedTable to StatementBusinessSegmentsAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain_2" xlink:title="SegmentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain_2" xlink:title="definition: StatementBusinessSegmentsAxis to SegmentDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="definition: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="definition: SegmentDomain to LandDevelopmentActivitiesMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="ConsolidationItemsAxis" xlink:title="ConsolidationItemsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:to="ConsolidationItemsAxis" xlink:title="definition: ReconciliationOfAssetsFromSegmentToConsolidatedTable to ConsolidationItemsAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="ConsolidationItemsDomain" xlink:title="ConsolidationItemsDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ConsolidationItemsAxis" xlink:to="ConsolidationItemsDomain" xlink:title="definition: ConsolidationItemsAxis to ConsolidationItemsDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="ConsolidationItemsDomain_2" xlink:title="ConsolidationItemsDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="ConsolidationItemsAxis" xlink:to="ConsolidationItemsDomain_2" xlink:title="definition: ConsolidationItemsAxis to ConsolidationItemsDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="CorporateNonSegmentMember" xlink:title="CorporateNonSegmentMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ConsolidationItemsDomain" xlink:to="CorporateNonSegmentMember" xlink:title="definition: ConsolidationItemsDomain to CorporateNonSegmentMember" order="1.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/IncomeTaxesDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsLineItems" xlink:label="OperatingLossCarryforwardsLineItems" xlink:title="OperatingLossCarryforwardsLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NetOperatingLossCarryforwardsAbstract" xlink:label="NetOperatingLossCarryforwardsAbstract" xlink:title="NetOperatingLossCarryforwardsAbstract" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OperatingLossCarryforwardsLineItems" xlink:to="NetOperatingLossCarryforwardsAbstract" xlink:title="definition: OperatingLossCarryforwardsLineItems to NetOperatingLossCarryforwardsAbstract" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="IncomeTaxesPaidNet" xlink:title="IncomeTaxesPaidNet" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OperatingLossCarryforwardsLineItems" xlink:to="IncomeTaxesPaidNet" xlink:title="definition: OperatingLossCarryforwardsLineItems to IncomeTaxesPaidNet" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="OperatingLossCarryforwards" xlink:title="OperatingLossCarryforwards" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OperatingLossCarryforwardsLineItems" xlink:to="OperatingLossCarryforwards" xlink:title="definition: OperatingLossCarryforwardsLineItems to OperatingLossCarryforwards" order="3.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsExpirationDate" xlink:label="OperatingLossCarryforwardsExpirationDate" xlink:title="OperatingLossCarryforwardsExpirationDate" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="OperatingLossCarryforwardsLineItems" xlink:to="OperatingLossCarryforwardsExpirationDate" xlink:title="definition: OperatingLossCarryforwardsLineItems to OperatingLossCarryforwardsExpirationDate" order="4.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsTable" xlink:label="OperatingLossCarryforwardsTable" xlink:title="OperatingLossCarryforwardsTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="OperatingLossCarryforwardsLineItems" xlink:to="OperatingLossCarryforwardsTable" xlink:title="definition: OperatingLossCarryforwardsLineItems to OperatingLossCarryforwardsTable" order="5.0" t1:closed="true" t1:contextElement="segment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="IncomeTaxAuthorityAxis" xlink:title="IncomeTaxAuthorityAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="OperatingLossCarryforwardsTable" xlink:to="IncomeTaxAuthorityAxis" xlink:title="definition: OperatingLossCarryforwardsTable to IncomeTaxAuthorityAxis" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="IncomeTaxAuthorityDomain" xlink:title="IncomeTaxAuthorityDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="IncomeTaxAuthorityAxis" xlink:to="IncomeTaxAuthorityDomain" xlink:title="definition: IncomeTaxAuthorityAxis to IncomeTaxAuthorityDomain" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="IncomeTaxAuthorityDomain_2" xlink:title="IncomeTaxAuthorityDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="IncomeTaxAuthorityAxis" xlink:to="IncomeTaxAuthorityDomain_2" xlink:title="definition: IncomeTaxAuthorityAxis to IncomeTaxAuthorityDomain_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DomesticCountryMember" xlink:label="DomesticCountryMember" xlink:title="DomesticCountryMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncomeTaxAuthorityDomain" xlink:to="DomesticCountryMember" xlink:title="definition: IncomeTaxAuthorityDomain to DomesticCountryMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="StateAndLocalJurisdictionMember" xlink:title="StateAndLocalJurisdictionMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncomeTaxAuthorityDomain" xlink:to="StateAndLocalJurisdictionMember" xlink:title="definition: IncomeTaxAuthorityDomain to StateAndLocalJurisdictionMember" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="OperatingLossCarryforwardsTable" xlink:to="RangeAxis" xlink:title="definition: OperatingLossCarryforwardsTable to RangeAxis" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="definition: RangeAxis to RangeMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember_2" xlink:title="RangeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="RangeAxis" xlink:to="RangeMember_2" xlink:title="definition: RangeAxis to RangeMember_2" order="2.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="MinimumMember" xlink:title="MinimumMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeMember" xlink:to="MinimumMember" xlink:title="definition: RangeMember to MinimumMember" order="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="definition: RangeMember to MaximumMember" order="2.0" />
  </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>11
<FILENAME>pcyo-20200531_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 7.0.0.0 Broadridge-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" />
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AreaOfLand" xlink:label="AreaOfLand" xlink:title="AreaOfLand" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AreaOfLand_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AreaOfLand_lbl" xml:lang="en-US" id="us-gaap_AreaOfLand_lbl">Area of land (in acres)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfLand" xlink:to="us-gaap_AreaOfLand_lbl" xlink:title="label: AreaOfLand to us-gaap_AreaOfLand_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AreaOfLand_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AreaOfLand_lbl1" xml:lang="en-US" id="us-gaap_AreaOfLand_lbl1">Area of Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfLand" xlink:to="us-gaap_AreaOfLand_lbl1" xlink:title="label: AreaOfLand to us-gaap_AreaOfLand_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="AreaOfRealEstateProperty" xlink:title="AreaOfRealEstateProperty" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" id="us-gaap_AreaOfRealEstateProperty_lbl">Area of office and warehouse</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfRealEstateProperty" xlink:to="us-gaap_AreaOfRealEstateProperty_lbl" xlink:title="label: AreaOfRealEstateProperty to us-gaap_AreaOfRealEstateProperty_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingStandardsUpdate201602Member" xlink:label="AccountingStandardsUpdate201602Member" xlink:title="AccountingStandardsUpdate201602Member" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountingStandardsUpdate201602Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountingStandardsUpdate201602Member_lbl" xml:lang="en-US" id="us-gaap_AccountingStandardsUpdate201602Member_lbl">ASU 2016-02 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountingStandardsUpdate201602Member" xlink:to="us-gaap_AccountingStandardsUpdate201602Member_lbl" xlink:title="label: AccountingStandardsUpdate201602Member to us-gaap_AccountingStandardsUpdate201602Member_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US" id="us-gaap_AccountingPoliciesAbstract_lbl">PRESENTATION OF INTERIM INFORMATION [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" xlink:title="label: AccountingPoliciesAbstract to us-gaap_AccountingPoliciesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="AccountsPayableCurrent" xlink:title="AccountsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US" id="us-gaap_AccountsPayableCurrent_lbl">Accounts payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl" xlink:title="label: AccountsPayableCurrent to us-gaap_AccountsPayableCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:title="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl">ACCRUED LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xlink:title="label: AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock to us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl1" xml:lang="en-US" id="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl1">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl1" xlink:title="label: AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock to us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableRelatedPartiesCurrent" xlink:label="AccountsPayableRelatedPartiesCurrent" xlink:title="AccountsPayableRelatedPartiesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountsPayableRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountsPayableRelatedPartiesCurrent_lbl" xml:lang="en-US" id="us-gaap_AccountsPayableRelatedPartiesCurrent_lbl">Accrued liabilities - related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayableRelatedPartiesCurrent" xlink:to="us-gaap_AccountsPayableRelatedPartiesCurrent_lbl" xlink:title="label: AccountsPayableRelatedPartiesCurrent to us-gaap_AccountsPayableRelatedPartiesCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableMember" xlink:label="AccountsReceivableMember" xlink:title="AccountsReceivableMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountsReceivableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountsReceivableMember_lbl" xml:lang="en-US" id="us-gaap_AccountsReceivableMember_lbl">Accounts Receivable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsReceivableMember" xlink:to="us-gaap_AccountsReceivableMember_lbl" xlink:title="label: AccountsReceivableMember to us-gaap_AccountsReceivableMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:title="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xml:lang="en-US" id="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl">Receivable Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xlink:title="label: AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis to us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="AccountsReceivableNetCurrent" xlink:title="AccountsReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US" id="us-gaap_AccountsReceivableNetCurrent_lbl">Trade accounts receivable, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl" xlink:title="label: AccountsReceivableNetCurrent to us-gaap_AccountsReceivableNetCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:label="AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:title="AccrualForTaxesOtherThanIncomeTaxesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent_lbl" xml:lang="en-US" id="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent_lbl">Estimated property taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:to="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent_lbl" xlink:title="label: AccrualForTaxesOtherThanIncomeTaxesCurrent to us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedSalariesCurrent" xlink:label="AccruedSalariesCurrent" xlink:title="AccruedSalariesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccruedSalariesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccruedSalariesCurrent_lbl" xml:lang="en-US" id="us-gaap_AccruedSalariesCurrent_lbl">Accrued compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedSalariesCurrent" xlink:to="us-gaap_AccruedSalariesCurrent_lbl" xlink:title="label: AccruedSalariesCurrent to us-gaap_AccruedSalariesCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="AccruedLiabilitiesCurrent" xlink:title="AccruedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccruedLiabilitiesCurrent_lbl" xml:lang="en-US" id="us-gaap_AccruedLiabilitiesCurrent_lbl">Accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:title="label: AccruedLiabilitiesCurrent to us-gaap_AccruedLiabilitiesCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedProfessionalFeesCurrent" xlink:label="AccruedProfessionalFeesCurrent" xlink:title="AccruedProfessionalFeesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccruedProfessionalFeesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccruedProfessionalFeesCurrent_lbl" xml:lang="en-US" id="us-gaap_AccruedProfessionalFeesCurrent_lbl">Professional fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedProfessionalFeesCurrent" xlink:to="us-gaap_AccruedProfessionalFeesCurrent_lbl" xlink:title="label: AccruedProfessionalFeesCurrent to us-gaap_AccruedProfessionalFeesCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US" id="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl">Accumulated depreciation and depletion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xlink:title="label: AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment to us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl1" xml:lang="en-US" id="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl1">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl1" xlink:title="label: AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment to us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="AccumulatedOtherComprehensiveIncomeMember" xlink:title="AccumulatedOtherComprehensiveIncomeMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" id="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl">Accumulated Other Comprehensive Income (Loss) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xlink:title="label: AccumulatedOtherComprehensiveIncomeMember to us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl1" xml:lang="en-US" id="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl1">AOCI Attributable to Parent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl1" xlink:title="label: AccumulatedOtherComprehensiveIncomeMember to us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" id="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl">Accumulated other comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xlink:title="label: AccumulatedOtherComprehensiveIncomeLossNetOfTax to us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="AdditionalPaidInCapitalMember" xlink:title="AdditionalPaidInCapitalMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US" id="us-gaap_AdditionalPaidInCapitalMember_lbl">Additional Paid-in Capital [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:title="label: AdditionalPaidInCapitalMember to us-gaap_AdditionalPaidInCapitalMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AdditionalPaidInCapitalMember_lbl1" xml:lang="en-US" id="us-gaap_AdditionalPaidInCapitalMember_lbl1">Additional Paid-in Capital [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl1" xlink:title="label: AdditionalPaidInCapitalMember to us-gaap_AdditionalPaidInCapitalMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="AdditionalPaidInCapital" xlink:title="AdditionalPaidInCapital" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US" id="us-gaap_AdditionalPaidInCapital_lbl">Additional paid-in capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl" xlink:title="label: AdditionalPaidInCapital to us-gaap_AdditionalPaidInCapital_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl">Adjustments to reconcile net income to net cash provided (used) by operating activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:title="label: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:label="AdjustmentsForNewAccountingPronouncementsAxis" xlink:title="AdjustmentsForNewAccountingPronouncementsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" xml:lang="en-US" id="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl">Adjustments for New Accounting Pronouncements [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForNewAccountingPronouncementsAxis" xlink:to="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" xlink:title="label: AdjustmentsForNewAccountingPronouncementsAxis to us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:label="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl" xml:lang="en-US" id="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl">Share-based compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl" xlink:title="label: AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition to us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl1" xml:lang="en-US" id="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl1">APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl1" xlink:title="label: AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition to us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:title="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US" id="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl">Anti-dilutive securities excluded from calculation of income per common share (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:title="label: AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount to us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAndLiabilitiesLesseeAbstract" xlink:label="AssetsAndLiabilitiesLesseeAbstract" xlink:title="AssetsAndLiabilitiesLesseeAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl" xml:lang="en-US" id="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl">ROU Lease Assets and Lease Liabilities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl" xlink:title="label: AssetsAndLiabilitiesLesseeAbstract to us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl1" xml:lang="en-US" id="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl1">Recently Issued Accounting Prounouncements [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl1" xlink:title="label: AssetsAndLiabilitiesLesseeAbstract to us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl2" xml:lang="en-US" id="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl2">Assets and Liabilities, Lessee [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl2" xlink:title="label: AssetsAndLiabilitiesLesseeAbstract to us-gaap_AssetsAndLiabilitiesLesseeAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="AssetsFairValueDisclosure" xlink:title="AssetsFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_AssetsFairValueDisclosure_lbl">Assets measured at fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl" xlink:title="label: AssetsFairValueDisclosure to us-gaap_AssetsFairValueDisclosure_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" id="us-gaap_AssetsAbstract_lbl">ASSETS:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xlink:title="label: AssetsAbstract to us-gaap_AssetsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_Assets_lbl" xml:lang="en-US" id="us-gaap_Assets_lbl">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="us-gaap_Assets_lbl" xlink:title="label: Assets to us-gaap_Assets_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_Assets_lbl1" xml:lang="en-US" id="us-gaap_Assets_lbl1">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="us-gaap_Assets_lbl1" xlink:title="label: Assets to us-gaap_Assets_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Assets_lbl2" xml:lang="en-US" id="us-gaap_Assets_lbl2">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="us-gaap_Assets_lbl2" xlink:title="label: Assets to us-gaap_Assets_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="AssetsCurrent" xlink:title="AssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" id="us-gaap_AssetsCurrent_lbl">Total current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl" xlink:title="label: AssetsCurrent to us-gaap_AssetsCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsCurrent_lbl1" xml:lang="en-US" id="us-gaap_AssetsCurrent_lbl1">Assets, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl1" xlink:title="label: AssetsCurrent to us-gaap_AssetsCurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="AssetsCurrentAbstract" xlink:title="AssetsCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US" id="us-gaap_AssetsCurrentAbstract_lbl">Current assets:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl" xlink:title="label: AssetsCurrentAbstract to us-gaap_AssetsCurrentAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="AvailableForSaleSecuritiesDebtSecurities" xlink:title="AvailableForSaleSecuritiesDebtSecurities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xml:lang="en-US" id="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl">Available-for-sale securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AvailableForSaleSecuritiesDebtSecurities" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xlink:title="label: AvailableForSaleSecuritiesDebtSecurities to us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="BasisOfAccountingPolicyPolicyTextBlock" xlink:title="BasisOfAccountingPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl">Basis of Presentation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xlink:title="label: BasisOfAccountingPolicyPolicyTextBlock to us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl1" xml:lang="en-US" id="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl1">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl1" xlink:title="label: BasisOfAccountingPolicyPolicyTextBlock to us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="CarryingReportedAmountFairValueDisclosureMember" xlink:title="CarryingReportedAmountFairValueDisclosureMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xml:lang="en-US" id="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl">Cost / Other Value [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingReportedAmountFairValueDisclosureMember" xlink:to="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xlink:title="label: CarryingReportedAmountFairValueDisclosureMember to us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="CashAndCashEquivalentsAtCarryingValue" xlink:title="CashAndCashEquivalentsAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl">Cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl">Net change in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl">Cash and cash equivalents - end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1">Cash and cash equivalents - beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" xml:lang="en-US" id="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" xlink:title="label: CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents to us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="CashAndCashEquivalentsPolicyTextBlock" xlink:title="CashAndCashEquivalentsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl">Cash and Cash Equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xlink:title="label: CashAndCashEquivalentsPolicyTextBlock to us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl1" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl1">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl1" xlink:title="label: CashAndCashEquivalentsPolicyTextBlock to us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="CertificatesOfDepositMember" xlink:title="CertificatesOfDepositMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CertificatesOfDepositMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CertificatesOfDepositMember_lbl" xml:lang="en-US" id="us-gaap_CertificatesOfDepositMember_lbl">Certificates of Deposit [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CertificatesOfDepositMember" xlink:to="us-gaap_CertificatesOfDepositMember_lbl" xlink:title="label: CertificatesOfDepositMember to us-gaap_CertificatesOfDepositMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="CommitmentsAndContingenciesDisclosureTextBlock" xlink:title="CommitmentsAndContingenciesDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl">COMMITMENTS AND CONTINGENCIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:title="label: CommitmentsAndContingenciesDisclosureTextBlock to us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl1" xml:lang="en-US" id="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl1">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl1" xlink:title="label: CommitmentsAndContingenciesDisclosureTextBlock to us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="CommitmentsAndContingenciesDisclosureAbstract" xlink:title="CommitmentsAndContingenciesDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US" id="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl">COMMITMENTS AND CONTINGENCIES [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:title="label: CommitmentsAndContingenciesDisclosureAbstract to us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CommonStockMember_lbl" xml:lang="en-US" id="us-gaap_CommonStockMember_lbl">Common Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:title="label: CommonStockMember to us-gaap_CommonStockMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockMember_lbl1" xml:lang="en-US" id="us-gaap_CommonStockMember_lbl1">Common Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl1" xlink:title="label: CommonStockMember to us-gaap_CommonStockMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="CommonStockParOrStatedValuePerShare" xlink:title="CommonStockParOrStatedValuePerShare" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="us-gaap_CommonStockParOrStatedValuePerShare_lbl">Common stock, par value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:title="label: CommonStockParOrStatedValuePerShare to us-gaap_CommonStockParOrStatedValuePerShare_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="CommonStockSharesAuthorized" xlink:title="CommonStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US" id="us-gaap_CommonStockSharesAuthorized_lbl">Common stock, shares authorized (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" xlink:title="label: CommonStockSharesAuthorized to us-gaap_CommonStockSharesAuthorized_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValueOutstanding" xlink:label="CommonStockValueOutstanding" xlink:title="CommonStockValueOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockValueOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockValueOutstanding_lbl" xml:lang="en-US" id="us-gaap_CommonStockValueOutstanding_lbl">Common stock, Par value 1/3 of $.01 per share, 40 million shares authorized; 23,853,598 and 23,826,598 shares outstanding, respectively</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockValueOutstanding" xlink:to="us-gaap_CommonStockValueOutstanding_lbl" xlink:title="label: CommonStockValueOutstanding to us-gaap_CommonStockValueOutstanding_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="CommonStockSharesOutstanding" xlink:title="CommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_CommonStockSharesOutstanding_lbl">Common stock, shares outstanding (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xlink:title="label: CommonStockSharesOutstanding to us-gaap_CommonStockSharesOutstanding_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:label="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:title="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl">Deferred Tax Assets (Liabilities) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl" xlink:title="label: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl1" xml:lang="en-US" id="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl1">Components of Deferred Tax Assets and Liabilities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl1" xlink:title="label: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="ComprehensiveIncomeNetOfTax" xlink:title="ComprehensiveIncomeNetOfTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US" id="us-gaap_ComprehensiveIncomeNetOfTax_lbl">Total comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xlink:title="label: ComprehensiveIncomeNetOfTax to us-gaap_ComprehensiveIncomeNetOfTax_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ComprehensiveIncomeNetOfTax_lbl1" xml:lang="en-US" id="us-gaap_ComprehensiveIncomeNetOfTax_lbl1">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl1" xlink:title="label: ComprehensiveIncomeNetOfTax to us-gaap_ComprehensiveIncomeNetOfTax_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="ConcentrationRiskByBenchmarkAxis" xlink:title="ConcentrationRiskByBenchmarkAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xml:lang="en-US" id="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl">Concentration Risk Benchmark [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskByBenchmarkAxis" xlink:to="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xlink:title="label: ConcentrationRiskByBenchmarkAxis to us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="ConcentrationRiskDisclosureTextBlock" xlink:title="ConcentrationRiskDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl">SIGNIFICANT CUSTOMERS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xlink:title="label: ConcentrationRiskDisclosureTextBlock to us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl1" xml:lang="en-US" id="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl1">Concentration Risk Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl1" xlink:title="label: ConcentrationRiskDisclosureTextBlock to us-gaap_ConcentrationRiskDisclosureTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="ConcentrationRiskBenchmarkDomain" xlink:title="ConcentrationRiskBenchmarkDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xml:lang="en-US" id="us-gaap_ConcentrationRiskBenchmarkDomain_lbl">Concentration Risk Benchmark [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xlink:title="label: ConcentrationRiskBenchmarkDomain to us-gaap_ConcentrationRiskBenchmarkDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskLineItems" xlink:label="ConcentrationRiskLineItems" xlink:title="ConcentrationRiskLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConcentrationRiskLineItems_lbl" xml:lang="en-US" id="us-gaap_ConcentrationRiskLineItems_lbl">Concentration Risk [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskLineItems" xlink:to="us-gaap_ConcentrationRiskLineItems_lbl" xlink:title="label: ConcentrationRiskLineItems to us-gaap_ConcentrationRiskLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskTable" xlink:label="ConcentrationRiskTable" xlink:title="ConcentrationRiskTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConcentrationRiskTable_lbl" xml:lang="en-US" id="us-gaap_ConcentrationRiskTable_lbl">Concentration Risk [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskTable" xlink:to="us-gaap_ConcentrationRiskTable_lbl" xlink:title="label: ConcentrationRiskTable to us-gaap_ConcentrationRiskTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="ConcentrationRiskPercentage1" xlink:title="ConcentrationRiskPercentage1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US" id="us-gaap_ConcentrationRiskPercentage1_lbl">Concentration risk percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:title="label: ConcentrationRiskPercentage1 to us-gaap_ConcentrationRiskPercentage1_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:label="ConstructionInProgressMember" xlink:title="ConstructionInProgressMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConstructionInProgressMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConstructionInProgressMember_lbl" xml:lang="en-US" id="us-gaap_ConstructionInProgressMember_lbl">Construction in Progress [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionInProgressMember" xlink:to="us-gaap_ConstructionInProgressMember_lbl" xlink:title="label: ConstructionInProgressMember to us-gaap_ConstructionInProgressMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetReclassifiedToReceivable" xlink:label="ContractWithCustomerAssetReclassifiedToReceivable" xlink:title="ContractWithCustomerAssetReclassifiedToReceivable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl" xml:lang="en-US" id="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl">Land development contract asset invoiced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetReclassifiedToReceivable" xlink:to="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl" xlink:title="label: ContractWithCustomerAssetReclassifiedToReceivable to us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl1" xml:lang="en-US" id="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl1">Contract with Customer, Asset, Reclassified to Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetReclassifiedToReceivable" xlink:to="us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl1" xlink:title="label: ContractWithCustomerAssetReclassifiedToReceivable to us-gaap_ContractWithCustomerAssetReclassifiedToReceivable_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:label="ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:title="ContractWithCustomerAssetAndLiabilityTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl">Changes in Contract Asset and Deferred Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:to="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xlink:title="label: ContractWithCustomerAssetAndLiabilityTableTextBlock to us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="ContractWithCustomerLiability" xlink:title="ContractWithCustomerLiability" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_ContractWithCustomerLiability_lbl" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiability_lbl">Deferred revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl" xlink:title="label: ContractWithCustomerLiability to us-gaap_ContractWithCustomerLiability_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiability_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_ContractWithCustomerLiability_lbl1" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiability_lbl1">Balance, end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl1" xlink:title="label: ContractWithCustomerLiability to us-gaap_ContractWithCustomerLiability_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiability_lbl2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_ContractWithCustomerLiability_lbl2" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiability_lbl2">Balance, beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl2" xlink:title="label: ContractWithCustomerLiability to us-gaap_ContractWithCustomerLiability_lbl2" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiability_lbl3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContractWithCustomerLiability_lbl3" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiability_lbl3">Contract with Customer, Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl3" xlink:title="label: ContractWithCustomerLiability to us-gaap_ContractWithCustomerLiability_lbl3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent" xlink:label="ContractWithCustomerLiabilityCurrent" xlink:title="ContractWithCustomerLiabilityCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ContractWithCustomerLiabilityCurrent_lbl" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiabilityCurrent_lbl">Deferred revenues, current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiabilityCurrent" xlink:to="us-gaap_ContractWithCustomerLiabilityCurrent_lbl" xlink:title="label: ContractWithCustomerLiabilityCurrent to us-gaap_ContractWithCustomerLiabilityCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContractWithCustomerLiabilityCurrent_lbl1" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiabilityCurrent_lbl1">Contract with Customer, Liability, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiabilityCurrent" xlink:to="us-gaap_ContractWithCustomerLiabilityCurrent_lbl1" xlink:title="label: ContractWithCustomerLiabilityCurrent to us-gaap_ContractWithCustomerLiabilityCurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetNetCurrent" xlink:label="ContractWithCustomerAssetNetCurrent" xlink:title="ContractWithCustomerAssetNetCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerAssetNetCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_ContractWithCustomerAssetNetCurrent_lbl" xml:lang="en-US" id="us-gaap_ContractWithCustomerAssetNetCurrent_lbl">Balance, beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetNetCurrent" xlink:to="us-gaap_ContractWithCustomerAssetNetCurrent_lbl" xlink:title="label: ContractWithCustomerAssetNetCurrent to us-gaap_ContractWithCustomerAssetNetCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerAssetNetCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_ContractWithCustomerAssetNetCurrent_lbl1" xml:lang="en-US" id="us-gaap_ContractWithCustomerAssetNetCurrent_lbl1">Balance, end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetNetCurrent" xlink:to="us-gaap_ContractWithCustomerAssetNetCurrent_lbl1" xlink:title="label: ContractWithCustomerAssetNetCurrent to us-gaap_ContractWithCustomerAssetNetCurrent_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerAssetNetCurrent_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContractWithCustomerAssetNetCurrent_lbl2" xml:lang="en-US" id="us-gaap_ContractWithCustomerAssetNetCurrent_lbl2">Contract with Customer, Asset, after Allowance for Credit Loss, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetNetCurrent" xlink:to="us-gaap_ContractWithCustomerAssetNetCurrent_lbl2" xlink:title="label: ContractWithCustomerAssetNetCurrent to us-gaap_ContractWithCustomerAssetNetCurrent_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="ContractWithCustomerLiabilityRevenueRecognized" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl">Contract revenues recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiabilityRevenueRecognized" xlink:to="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" xlink:title="label: ContractWithCustomerLiabilityRevenueRecognized to us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl1" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl1">Contract revenues recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiabilityRevenueRecognized" xlink:to="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl1" xlink:title="label: ContractWithCustomerLiabilityRevenueRecognized to us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl2" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl2">Recognition of unearned revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiabilityRevenueRecognized" xlink:to="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl2" xlink:title="label: ContractWithCustomerLiabilityRevenueRecognized to us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl2" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl3" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl3">Contract with Customer, Liability, Revenue Recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiabilityRevenueRecognized" xlink:to="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl3" xlink:title="label: ContractWithCustomerLiabilityRevenueRecognized to us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityNoncurrent" xlink:label="ContractWithCustomerLiabilityNoncurrent" xlink:title="ContractWithCustomerLiabilityNoncurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContractWithCustomerLiabilityNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContractWithCustomerLiabilityNoncurrent_lbl" xml:lang="en-US" id="us-gaap_ContractWithCustomerLiabilityNoncurrent_lbl">Deferred oil and gas lease payment and water sales payment, less current portion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerLiabilityNoncurrent" xlink:to="us-gaap_ContractWithCustomerLiabilityNoncurrent_lbl" xlink:title="label: ContractWithCustomerLiabilityNoncurrent to us-gaap_ContractWithCustomerLiabilityNoncurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="CorporateNonSegmentMember" xlink:title="CorporateNonSegmentMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CorporateNonSegmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_CorporateNonSegmentMember_lbl" xml:lang="en-US" id="us-gaap_CorporateNonSegmentMember_lbl">Corporate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CorporateNonSegmentMember" xlink:to="us-gaap_CorporateNonSegmentMember_lbl" xlink:title="label: CorporateNonSegmentMember to us-gaap_CorporateNonSegmentMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CorporateNonSegmentMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CorporateNonSegmentMember_lbl1" xml:lang="en-US" id="us-gaap_CorporateNonSegmentMember_lbl1">Corporate, Non-Segment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CorporateNonSegmentMember" xlink:to="us-gaap_CorporateNonSegmentMember_lbl1" xlink:title="label: CorporateNonSegmentMember to us-gaap_CorporateNonSegmentMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostDepreciationAmortizationAndDepletion" xlink:label="CostDepreciationAmortizationAndDepletion" xlink:title="CostDepreciationAmortizationAndDepletion" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostDepreciationAmortizationAndDepletion_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_CostDepreciationAmortizationAndDepletion_lbl" xml:lang="en-US" id="us-gaap_CostDepreciationAmortizationAndDepletion_lbl">Depletion and depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostDepreciationAmortizationAndDepletion" xlink:to="us-gaap_CostDepreciationAmortizationAndDepletion_lbl" xlink:title="label: CostDepreciationAmortizationAndDepletion to us-gaap_CostDepreciationAmortizationAndDepletion_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostDepreciationAmortizationAndDepletion_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CostDepreciationAmortizationAndDepletion_lbl1" xml:lang="en-US" id="us-gaap_CostDepreciationAmortizationAndDepletion_lbl1">Cost, Depreciation, Amortization and Depletion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostDepreciationAmortizationAndDepletion" xlink:to="us-gaap_CostDepreciationAmortizationAndDepletion_lbl1" xlink:title="label: CostDepreciationAmortizationAndDepletion to us-gaap_CostDepreciationAmortizationAndDepletion_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="CostOfRevenue" xlink:title="CostOfRevenue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostOfRevenue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="us-gaap_CostOfRevenue_lbl" xml:lang="en-US" id="us-gaap_CostOfRevenue_lbl">Total cost of revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfRevenue" xlink:to="us-gaap_CostOfRevenue_lbl" xlink:title="label: CostOfRevenue to us-gaap_CostOfRevenue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostOfRevenue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CostOfRevenue_lbl1" xml:lang="en-US" id="us-gaap_CostOfRevenue_lbl1">Cost of Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfRevenue" xlink:to="us-gaap_CostOfRevenue_lbl1" xlink:title="label: CostOfRevenue to us-gaap_CostOfRevenue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="CurrentIncomeTaxExpenseBenefit" xlink:title="CurrentIncomeTaxExpenseBenefit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl" xml:lang="en-US" id="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl">Current income tax expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentIncomeTaxExpenseBenefit" xlink:to="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl" xlink:title="label: CurrentIncomeTaxExpenseBenefit to us-gaap_CurrentIncomeTaxExpenseBenefit_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisaggregationOfRevenueTable_lbl" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueTable_lbl">Disaggregation of Revenue [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueTable" xlink:to="us-gaap_DisaggregationOfRevenueTable_lbl" xlink:title="label: DisaggregationOfRevenueTable to us-gaap_DisaggregationOfRevenueTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisaggregationOfRevenueLineItems_lbl" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueLineItems_lbl">Disaggregation of Revenue [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="us-gaap_DisaggregationOfRevenueLineItems_lbl" xlink:title="label: DisaggregationOfRevenueLineItems to us-gaap_DisaggregationOfRevenueLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueAbstract" xlink:label="DisaggregationOfRevenueAbstract" xlink:title="DisaggregationOfRevenueAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DisaggregationOfRevenueAbstract_lbl" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueAbstract_lbl">Revenue Recognition [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="us-gaap_DisaggregationOfRevenueAbstract_lbl" xlink:title="label: DisaggregationOfRevenueAbstract to us-gaap_DisaggregationOfRevenueAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisaggregationOfRevenueAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisaggregationOfRevenueAbstract_lbl1" xml:lang="en-US" id="us-gaap_DisaggregationOfRevenueAbstract_lbl1">Disaggregation of Revenue [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="us-gaap_DisaggregationOfRevenueAbstract_lbl1" xlink:title="label: DisaggregationOfRevenueAbstract to us-gaap_DisaggregationOfRevenueAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtSecurities" xlink:label="DebtSecurities" xlink:title="DebtSecurities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DebtSecurities_lbl" xml:lang="en-US" id="us-gaap_DebtSecurities_lbl">Investments in securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtSecurities" xlink:to="us-gaap_DebtSecurities_lbl" xlink:title="label: DebtSecurities to us-gaap_DebtSecurities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtSecurities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtSecurities_lbl1" xml:lang="en-US" id="us-gaap_DebtSecurities_lbl1">Debt Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtSecurities" xlink:to="us-gaap_DebtSecurities_lbl1" xlink:title="label: DebtSecurities to us-gaap_DebtSecurities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:label="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:title="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl" xml:lang="en-US" id="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl">Accumulated unrealized gains and (losses)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:to="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl" xlink:title="label: DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax to us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl1" xml:lang="en-US" id="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl1">Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:to="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl1" xlink:title="label: DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax to us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="DebtInstrumentBasisSpreadOnVariableRate1" xlink:title="DebtInstrumentBasisSpreadOnVariableRate1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl">Basis spread on variable rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRate1 to us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="DebtInstrumentFaceAmount" xlink:title="DebtInstrumentFaceAmount" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentFaceAmount_lbl">Face amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:title="label: DebtInstrumentFaceAmount to us-gaap_DebtInstrumentFaceAmount_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentFaceAmount_lbl1" xml:lang="en-US" id="us-gaap_DebtInstrumentFaceAmount_lbl1">Aggregate principal amount of bonds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl1" xlink:title="label: DebtInstrumentFaceAmount to us-gaap_DebtInstrumentFaceAmount_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="DebtInstrumentAxis" xlink:title="DebtInstrumentAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentAxis_lbl">Debt Instrument [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl" xlink:title="label: DebtInstrumentAxis to us-gaap_DebtInstrumentAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="DebtInstrumentNameDomain" xlink:title="DebtInstrumentNameDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentNameDomain_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentNameDomain_lbl">Debt Instrument, Name [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNameDomain" xlink:to="us-gaap_DebtInstrumentNameDomain_lbl" xlink:title="label: DebtInstrumentNameDomain to us-gaap_DebtInstrumentNameDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="DebtInstrumentInterestRateStatedPercentage" xlink:title="DebtInstrumentInterestRateStatedPercentage" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl">Interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:title="label: DebtInstrumentInterestRateStatedPercentage to us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="DebtInstrumentMaturityDate" xlink:title="DebtInstrumentMaturityDate" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentMaturityDate_lbl">Maturity date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:title="label: DebtInstrumentMaturityDate to us-gaap_DebtInstrumentMaturityDate_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtCurrentAbstract" xlink:label="DebtCurrentAbstract" xlink:title="DebtCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DebtCurrentAbstract_lbl" xml:lang="en-US" id="us-gaap_DebtCurrentAbstract_lbl">Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtCurrentAbstract" xlink:to="us-gaap_DebtCurrentAbstract_lbl" xlink:title="label: DebtCurrentAbstract to us-gaap_DebtCurrentAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtCurrentAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtCurrentAbstract_lbl1" xml:lang="en-US" id="us-gaap_DebtCurrentAbstract_lbl1">Debt, Current [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtCurrentAbstract" xlink:to="us-gaap_DebtCurrentAbstract_lbl1" xlink:title="label: DebtCurrentAbstract to us-gaap_DebtCurrentAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet" xlink:label="DeferredIncomeTaxAssetsNet" xlink:title="DeferredIncomeTaxAssetsNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredIncomeTaxAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredIncomeTaxAssetsNet_lbl" xml:lang="en-US" id="us-gaap_DeferredIncomeTaxAssetsNet_lbl">Deferred tax asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncomeTaxAssetsNet" xlink:to="us-gaap_DeferredIncomeTaxAssetsNet_lbl" xlink:title="label: DeferredIncomeTaxAssetsNet to us-gaap_DeferredIncomeTaxAssetsNet_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="DeferredIncomeTaxExpenseBenefit" xlink:title="DeferredIncomeTaxExpenseBenefit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US" id="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl">Deferred income tax expense (benefit)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xlink:title="label: DeferredIncomeTaxExpenseBenefit to us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl1" xml:lang="en-US" id="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl1">Deferred income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl1" xlink:title="label: DeferredIncomeTaxExpenseBenefit to us-gaap_DeferredIncomeTaxExpenseBenefit_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueLeasesCurrent" xlink:label="DeferredRevenueLeasesCurrent" xlink:title="DeferredRevenueLeasesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredRevenueLeasesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredRevenueLeasesCurrent_lbl" xml:lang="en-US" id="us-gaap_DeferredRevenueLeasesCurrent_lbl">Deferred oil and gas lease payment and water sales payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueLeasesCurrent" xlink:to="us-gaap_DeferredRevenueLeasesCurrent_lbl" xlink:title="label: DeferredRevenueLeasesCurrent to us-gaap_DeferredRevenueLeasesCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredRevenueLeasesCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DeferredRevenueLeasesCurrent_lbl1" xml:lang="en-US" id="us-gaap_DeferredRevenueLeasesCurrent_lbl1">Current portion of deferred revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueLeasesCurrent" xlink:to="us-gaap_DeferredRevenueLeasesCurrent_lbl1" xlink:title="label: DeferredRevenueLeasesCurrent to us-gaap_DeferredRevenueLeasesCurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="DeferredTaxAssetsLiabilitiesNet" xlink:title="DeferredTaxAssetsLiabilitiesNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl">Net deferred tax asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl" xlink:title="label: DeferredTaxAssetsLiabilitiesNet to us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl1" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl1">Deferred Tax Assets, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsLiabilitiesNet" xlink:to="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl1" xlink:title="label: DeferredTaxAssetsLiabilitiesNet to us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsDeferredIncome" xlink:label="DeferredTaxAssetsDeferredIncome" xlink:title="DeferredTaxAssetsDeferredIncome" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsDeferredIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_DeferredTaxAssetsDeferredIncome_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsDeferredIncome_lbl">Deferred revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsDeferredIncome" xlink:to="us-gaap_DeferredTaxAssetsDeferredIncome_lbl" xlink:title="label: DeferredTaxAssetsDeferredIncome to us-gaap_DeferredTaxAssetsDeferredIncome_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsDeferredIncome_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxAssetsDeferredIncome_lbl1" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsDeferredIncome_lbl1">Deferred Tax Assets, Deferred Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsDeferredIncome" xlink:to="us-gaap_DeferredTaxAssetsDeferredIncome_lbl1" xlink:title="label: DeferredTaxAssetsDeferredIncome to us-gaap_DeferredTaxAssetsDeferredIncome_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" xlink:label="DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" xlink:title="DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl">Deferred tax assets (AMT)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" xlink:to="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl" xlink:title="label: DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax to us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl1" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl1">Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" xlink:to="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl1" xlink:title="label: DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax to us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="DeferredTaxAssetsOther" xlink:title="DeferredTaxAssetsOther" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsOther_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_DeferredTaxAssetsOther_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsOther_lbl">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsOther" xlink:to="us-gaap_DeferredTaxAssetsOther_lbl" xlink:title="label: DeferredTaxAssetsOther to us-gaap_DeferredTaxAssetsOther_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsOther_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxAssetsOther_lbl1" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsOther_lbl1">Deferred Tax Assets, Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsOther" xlink:to="us-gaap_DeferredTaxAssetsOther_lbl1" xlink:title="label: DeferredTaxAssetsOther to us-gaap_DeferredTaxAssetsOther_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="DeferredTaxAssetsOperatingLossCarryforwards" xlink:title="DeferredTaxAssetsOperatingLossCarryforwards" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl">Net operating loss carryforwards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsOperatingLossCarryforwards" xlink:to="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" xlink:title="label: DeferredTaxAssetsOperatingLossCarryforwards to us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:label="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:title="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl">Accrued compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:to="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl" xlink:title="label: DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities to us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl1" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl1">Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:to="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl1" xlink:title="label: DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities to us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:title="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl">Non-qualified stock options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:to="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl" xlink:title="label: DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost to us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl1" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl1">Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:to="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl1" xlink:title="label: DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost to us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:title="DeferredTaxLiabilitiesPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl" xml:lang="en-US" id="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl">Depreciation and depletion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:to="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl" xlink:title="label: DeferredTaxLiabilitiesPropertyPlantAndEquipment to us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl1" xml:lang="en-US" id="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl1">Deferred Tax Liabilities, Property, Plant and Equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:to="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl1" xlink:title="label: DeferredTaxLiabilitiesPropertyPlantAndEquipment to us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="DepreciationDepletionAndAmortization" xlink:title="DepreciationDepletionAndAmortization" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US" id="us-gaap_DepreciationDepletionAndAmortization_lbl">Depreciation and depletion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization_lbl" xlink:title="label: DepreciationDepletionAndAmortization to us-gaap_DepreciationDepletionAndAmortization_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="DepreciationNonproduction" xlink:title="DepreciationNonproduction" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationNonproduction_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_DepreciationNonproduction_lbl" xml:lang="en-US" id="us-gaap_DepreciationNonproduction_lbl">Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationNonproduction" xlink:to="us-gaap_DepreciationNonproduction_lbl" xlink:title="label: DepreciationNonproduction to us-gaap_DepreciationNonproduction_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationNonproduction_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DepreciationNonproduction_lbl1" xml:lang="en-US" id="us-gaap_DepreciationNonproduction_lbl1">Depreciation, Nonproduction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationNonproduction" xlink:to="us-gaap_DepreciationNonproduction_lbl1" xlink:title="label: DepreciationNonproduction to us-gaap_DepreciationNonproduction_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortizationAbstract" xlink:label="DepreciationAndAmortizationAbstract" xlink:title="DepreciationAndAmortizationAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationAndAmortizationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DepreciationAndAmortizationAbstract_lbl" xml:lang="en-US" id="us-gaap_DepreciationAndAmortizationAbstract_lbl">Depletion and Depreciation [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortizationAbstract" xlink:to="us-gaap_DepreciationAndAmortizationAbstract_lbl" xlink:title="label: DepreciationAndAmortizationAbstract to us-gaap_DepreciationAndAmortizationAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Depreciation" xlink:label="Depreciation" xlink:title="Depreciation" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Depreciation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Depreciation_lbl" xml:lang="en-US" id="us-gaap_Depreciation_lbl">Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Depreciation" xlink:to="us-gaap_Depreciation_lbl" xlink:title="label: Depreciation to us-gaap_Depreciation_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:title="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xml:lang="en-US" id="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl">SHAREHOLDERS' EQUITY [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xlink:title="label: DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract to us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:title="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xml:lang="en-US" id="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl">SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:title="label: DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock to us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DomesticCountryMember" xlink:label="DomesticCountryMember" xlink:title="DomesticCountryMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DomesticCountryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DomesticCountryMember_lbl" xml:lang="en-US" id="us-gaap_DomesticCountryMember_lbl">Federal [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DomesticCountryMember" xlink:to="us-gaap_DomesticCountryMember_lbl" xlink:title="label: DomesticCountryMember to us-gaap_DomesticCountryMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DomesticCountryMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DomesticCountryMember_lbl1" xml:lang="en-US" id="us-gaap_DomesticCountryMember_lbl1">Domestic Tax Authority [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DomesticCountryMember" xlink:to="us-gaap_DomesticCountryMember_lbl1" xlink:title="label: DomesticCountryMember to us-gaap_DomesticCountryMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:label="DueToRelatedPartiesCurrent" xlink:title="DueToRelatedPartiesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DueToRelatedPartiesCurrent_lbl" xml:lang="en-US" id="us-gaap_DueToRelatedPartiesCurrent_lbl">Operating payables to CAB</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DueToRelatedPartiesCurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:title="label: DueToRelatedPartiesCurrent to us-gaap_DueToRelatedPartiesCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DueToRelatedPartiesCurrent_lbl1" xml:lang="en-US" id="us-gaap_DueToRelatedPartiesCurrent_lbl1">Due to Related Parties, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DueToRelatedPartiesCurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrent_lbl1" xlink:title="label: DueToRelatedPartiesCurrent to us-gaap_DueToRelatedPartiesCurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="EarningsPerShareBasic" xlink:title="EarningsPerShareBasic" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareBasic_lbl">Basic (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl" xlink:title="label: EarningsPerShareBasic to us-gaap_EarningsPerShareBasic_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareBasic_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareBasic_lbl1">Earnings Per Share, Basic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl1" xlink:title="label: EarningsPerShareBasic to us-gaap_EarningsPerShareBasic_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="EarningsPerSharePolicyTextBlock" xlink:title="EarningsPerSharePolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_EarningsPerSharePolicyTextBlock_lbl">Earnings per Common Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:title="label: EarningsPerSharePolicyTextBlock to us-gaap_EarningsPerSharePolicyTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareAbstract_lbl">Earnings per common share:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xlink:title="label: EarningsPerShareAbstract to us-gaap_EarningsPerShareAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareAbstract_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareAbstract_lbl1">Earnings per Common Share [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl1" xlink:title="label: EarningsPerShareAbstract to us-gaap_EarningsPerShareAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="EarningsPerShareDiluted" xlink:title="EarningsPerShareDiluted" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareDiluted_lbl">Diluted (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl" xlink:title="label: EarningsPerShareDiluted to us-gaap_EarningsPerShareDiluted_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareDiluted_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareDiluted_lbl1">Earnings Per Share, Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl1" xlink:title="label: EarningsPerShareDiluted to us-gaap_EarningsPerShareDiluted_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:title="EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl" xml:lang="en-US" id="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl">Effective tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl" xlink:title="label: EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance to us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="EffectiveIncomeTaxRateContinuingOperations" xlink:title="EffectiveIncomeTaxRateContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US" id="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl">Effective tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectiveIncomeTaxRateContinuingOperations" xlink:to="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:title="label: EffectiveIncomeTaxRateContinuingOperations to us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl1" xml:lang="en-US" id="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl1">Effective Income Tax Rate Reconciliation, Percent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectiveIncomeTaxRateContinuingOperations" xlink:to="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl1" xlink:title="label: EffectiveIncomeTaxRateContinuingOperations to us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:title="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US" id="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl">Unrecognized compensation expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xlink:title="label: EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized to us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain" xlink:title="EquityComponentDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EquityComponentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US" id="us-gaap_EquityComponentDomain_lbl">Equity Component [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" xlink:title="label: EquityComponentDomain to us-gaap_EquityComponentDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="EstimateOfFairValueFairValueDisclosureMember" xlink:title="EstimateOfFairValueFairValueDisclosureMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xml:lang="en-US" id="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl">Fair Value [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimateOfFairValueFairValueDisclosureMember" xlink:to="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xlink:title="label: EstimateOfFairValueFairValueDisclosureMember to us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueNetAssetLiabilityAbstract" xlink:label="FairValueNetAssetLiabilityAbstract" xlink:title="FairValueNetAssetLiabilityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueNetAssetLiabilityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_FairValueNetAssetLiabilityAbstract_lbl" xml:lang="en-US" id="us-gaap_FairValueNetAssetLiabilityAbstract_lbl">Fair Value Measurements [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="us-gaap_FairValueNetAssetLiabilityAbstract_lbl" xlink:title="label: FairValueNetAssetLiabilityAbstract to us-gaap_FairValueNetAssetLiabilityAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueNetAssetLiabilityAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueNetAssetLiabilityAbstract_lbl1" xml:lang="en-US" id="us-gaap_FairValueNetAssetLiabilityAbstract_lbl1">Fair Value, Net Asset (Liability) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="us-gaap_FairValueNetAssetLiabilityAbstract_lbl1" xlink:title="label: FairValueNetAssetLiabilityAbstract to us-gaap_FairValueNetAssetLiabilityAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US" id="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:title="label: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="FairValueByFairValueHierarchyLevelAxis" xlink:title="FairValueByFairValueHierarchyLevelAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US" id="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:title="label: FairValueByFairValueHierarchyLevelAxis to us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="FairValueMeasurementsFairValueHierarchyDomain" xlink:title="FairValueMeasurementsFairValueHierarchyDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US" id="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:title="label: FairValueMeasurementsFairValueHierarchyDomain to us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsRecurringMember" xlink:label="FairValueMeasurementsRecurringMember" xlink:title="FairValueMeasurementsRecurringMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueMeasurementsRecurringMember_lbl" xml:lang="en-US" id="us-gaap_FairValueMeasurementsRecurringMember_lbl">Recurring [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueMeasurementsRecurringMember" xlink:to="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:title="label: FairValueMeasurementsRecurringMember to us-gaap_FairValueMeasurementsRecurringMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="FairValueDisclosuresAbstract" xlink:title="FairValueDisclosuresAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosuresAbstract_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosuresAbstract_lbl">FAIR VALUE MEASUREMENTS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresAbstract" xlink:to="us-gaap_FairValueDisclosuresAbstract_lbl" xlink:title="label: FairValueDisclosuresAbstract to us-gaap_FairValueDisclosuresAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="FairValueMeasurementFrequencyDomain" xlink:title="FairValueMeasurementFrequencyDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" id="us-gaap_FairValueMeasurementFrequencyDomain_lbl">Fair Value, Measurement Frequency [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:title="label: FairValueMeasurementFrequencyDomain to us-gaap_FairValueMeasurementFrequencyDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="FairValueByMeasurementFrequencyAxis" xlink:title="FairValueByMeasurementFrequencyAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xml:lang="en-US" id="us-gaap_FairValueByMeasurementFrequencyAxis_lbl">Measurement Frequency [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByMeasurementFrequencyAxis" xlink:to="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:title="label: FairValueByMeasurementFrequencyAxis to us-gaap_FairValueByMeasurementFrequencyAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="FairValueByMeasurementBasisAxis" xlink:title="FairValueByMeasurementBasisAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueByMeasurementBasisAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueByMeasurementBasisAxis_lbl" xml:lang="en-US" id="us-gaap_FairValueByMeasurementBasisAxis_lbl">Measurement Basis [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByMeasurementBasisAxis" xlink:to="us-gaap_FairValueByMeasurementBasisAxis_lbl" xlink:title="label: FairValueByMeasurementBasisAxis to us-gaap_FairValueByMeasurementBasisAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xml:lang="en-US" id="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl">Fair Value Measurements, Recurring and Nonrecurring [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xlink:title="label: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:label="FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:title="FairValueDisclosureOffbalanceSheetRisksAmountLiability" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl">Balance at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:to="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl" xlink:title="label: FairValueDisclosureOffbalanceSheetRisksAmountLiability to us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl1" xml:lang="en-US" id="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl1">Balance at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:to="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl1" xlink:title="label: FairValueDisclosureOffbalanceSheetRisksAmountLiability to us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl2" xml:lang="en-US" id="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl2">Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:to="us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl2" xlink:title="label: FairValueDisclosureOffbalanceSheetRisksAmountLiability to us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="FairValueDisclosuresTextBlock" xlink:title="FairValueDisclosuresTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosuresTextBlock_lbl">FAIR VALUE MEASUREMENTS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:title="label: FairValueDisclosuresTextBlock to us-gaap_FairValueDisclosuresTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosuresTextBlock_lbl1" xml:lang="en-US" id="us-gaap_FairValueDisclosuresTextBlock_lbl1">Fair Value Disclosures [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl1" xlink:title="label: FairValueDisclosuresTextBlock to us-gaap_FairValueDisclosuresTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:label="FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:title="FairValueAssetsMeasuredOnRecurringBasisTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xml:lang="en-US" id="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl">Assets and Liabilities Measured at Fair Value on a Recurring Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xlink:title="label: FairValueAssetsMeasuredOnRecurringBasisTextBlock to us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain" xlink:label="FairValueDisclosureItemAmountsDomain" xlink:title="FairValueDisclosureItemAmountsDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosureItemAmountsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosureItemAmountsDomain_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosureItemAmountsDomain_lbl">Fair Value Measurement [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="us-gaap_FairValueDisclosureItemAmountsDomain_lbl" xlink:title="label: FairValueDisclosureItemAmountsDomain to us-gaap_FairValueDisclosureItemAmountsDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="FairValueInputsLevel1Member" xlink:title="FairValueInputsLevel1Member" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US" id="us-gaap_FairValueInputsLevel1Member_lbl">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl" xlink:title="label: FairValueInputsLevel1Member to us-gaap_FairValueInputsLevel1Member_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="FairValueInputsLevel2Member" xlink:title="FairValueInputsLevel2Member" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US" id="us-gaap_FairValueInputsLevel2Member_lbl">Significant Other Observable Inputs (Level 2) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl" xlink:title="label: FairValueInputsLevel2Member to us-gaap_FairValueInputsLevel2Member_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="FairValueInputsLevel3Member" xlink:title="FairValueInputsLevel3Member" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US" id="us-gaap_FairValueInputsLevel3Member_lbl">Significant Unobservable Inputs (Level 3) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl" xlink:title="label: FairValueInputsLevel3Member to us-gaap_FairValueInputsLevel3Member_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="FinancialInstrumentAxis" xlink:title="FinancialInstrumentAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FinancialInstrumentAxis_lbl" xml:lang="en-US" id="us-gaap_FinancialInstrumentAxis_lbl">Financial Instrument [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialInstrumentAxis" xlink:to="us-gaap_FinancialInstrumentAxis_lbl" xlink:title="label: FinancialInstrumentAxis to us-gaap_FinancialInstrumentAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US" id="us-gaap_GeneralAndAdministrativeExpense_lbl">General and administrative expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl" xlink:title="label: GeneralAndAdministrativeExpense to us-gaap_GeneralAndAdministrativeExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_GeneralAndAdministrativeExpense_lbl1" xml:lang="en-US" id="us-gaap_GeneralAndAdministrativeExpense_lbl1">General and Administrative Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl1" xlink:title="label: GeneralAndAdministrativeExpense to us-gaap_GeneralAndAdministrativeExpense_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GrossProfit" xlink:label="GrossProfit" xlink:title="GrossProfit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_GrossProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_GrossProfit_lbl" xml:lang="en-US" id="us-gaap_GrossProfit_lbl">Gross profit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="us-gaap_GrossProfit_lbl" xlink:title="label: GrossProfit to us-gaap_GrossProfit_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_GrossProfit_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_GrossProfit_lbl1" xml:lang="en-US" id="us-gaap_GrossProfit_lbl1">Gross Profit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="us-gaap_GrossProfit_lbl1" xlink:title="label: GrossProfit to us-gaap_GrossProfit_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="HeldToMaturitySecurities" xlink:title="HeldToMaturitySecurities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_HeldToMaturitySecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_HeldToMaturitySecurities_lbl" xml:lang="en-US" id="us-gaap_HeldToMaturitySecurities_lbl">Held-to-maturity securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HeldToMaturitySecurities" xlink:to="us-gaap_HeldToMaturitySecurities_lbl" xlink:title="label: HeldToMaturitySecurities to us-gaap_HeldToMaturitySecurities_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:title="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl">Long-Lived Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xlink:title="label: ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock to us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="IncomeTaxAuthorityAxis" xlink:title="IncomeTaxAuthorityAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxAuthorityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxAuthorityAxis_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxAuthorityAxis_lbl">Income Tax Authority [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxAuthorityAxis" xlink:to="us-gaap_IncomeTaxAuthorityAxis_lbl" xlink:title="label: IncomeTaxAuthorityAxis to us-gaap_IncomeTaxAuthorityAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="IncomeTaxDisclosureAbstract" xlink:title="IncomeTaxDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxDisclosureAbstract_lbl">INCOME TAXES [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl" xlink:title="label: IncomeTaxDisclosureAbstract to us-gaap_IncomeTaxDisclosureAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncomeTaxDisclosureAbstract_lbl1" xml:lang="en-US" id="us-gaap_IncomeTaxDisclosureAbstract_lbl1">Income Taxes [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl1" xlink:title="label: IncomeTaxDisclosureAbstract to us-gaap_IncomeTaxDisclosureAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US" id="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl">Income from operations before income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xlink:title="label: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl1" xml:lang="en-US" id="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl1">Total pretax income (loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl1" xlink:title="label: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl2" xml:lang="en-US" id="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl2">Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl2" xlink:title="label: IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments to us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromEquityMethodInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US" id="us-gaap_IncomeLossFromEquityMethodInvestments_lbl">Investment in Well Enhancement and Recovery Systems LLC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xlink:title="label: IncomeLossFromEquityMethodInvestments to us-gaap_IncomeLossFromEquityMethodInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeLossFromEquityMethodInvestments_lbl1" xml:lang="en-US" id="us-gaap_IncomeLossFromEquityMethodInvestments_lbl1">Income (Loss) from Equity Method Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_lbl1" xlink:title="label: IncomeLossFromEquityMethodInvestments to us-gaap_IncomeLossFromEquityMethodInvestments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="IncomeStatementAbstract" xlink:title="IncomeStatementAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US" id="us-gaap_IncomeStatementAbstract_lbl">CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" xlink:title="label: IncomeStatementAbstract to us-gaap_IncomeStatementAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="IncomeTaxDisclosureTextBlock" xlink:title="IncomeTaxDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxDisclosureTextBlock_lbl">INCOME TAXES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:title="label: IncomeTaxDisclosureTextBlock to us-gaap_IncomeTaxDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxDisclosureTextBlock_lbl1" xml:lang="en-US" id="us-gaap_IncomeTaxDisclosureTextBlock_lbl1">Income Tax Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl1" xlink:title="label: IncomeTaxDisclosureTextBlock to us-gaap_IncomeTaxDisclosureTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="IncomeTaxAuthorityDomain" xlink:title="IncomeTaxAuthorityDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxAuthorityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxAuthorityDomain_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxAuthorityDomain_lbl">Income Tax Authority [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxAuthorityDomain" xlink:to="us-gaap_IncomeTaxAuthorityDomain_lbl" xlink:title="label: IncomeTaxAuthorityDomain to us-gaap_IncomeTaxAuthorityDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="IncomeTaxExpenseBenefit" xlink:title="IncomeTaxExpenseBenefit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxExpenseBenefit_lbl">Income tax expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:title="label: IncomeTaxExpenseBenefit to us-gaap_IncomeTaxExpenseBenefit_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncomeTaxExpenseBenefit_lbl1" xml:lang="en-US" id="us-gaap_IncomeTaxExpenseBenefit_lbl1">Income tax expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl1" xlink:title="label: IncomeTaxExpenseBenefit to us-gaap_IncomeTaxExpenseBenefit_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="IncomeTaxPolicyTextBlock" xlink:title="IncomeTaxPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxPolicyTextBlock_lbl">Income Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl" xlink:title="label: IncomeTaxPolicyTextBlock to us-gaap_IncomeTaxPolicyTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="IncomeTaxesPaidNet" xlink:title="IncomeTaxesPaidNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxesPaidNet_lbl">Income taxes paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesPaidNet" xlink:to="us-gaap_IncomeTaxesPaidNet_lbl" xlink:title="label: IncomeTaxesPaidNet to us-gaap_IncomeTaxesPaidNet_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_IncomeTaxesPaidNet_lbl1" xml:lang="en-US" id="us-gaap_IncomeTaxesPaidNet_lbl1">Income taxes paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesPaidNet" xlink:to="us-gaap_IncomeTaxesPaidNet_lbl1" xlink:title="label: IncomeTaxesPaidNet to us-gaap_IncomeTaxesPaidNet_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesReceivable" xlink:label="IncomeTaxesReceivable" xlink:title="IncomeTaxesReceivable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxesReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncomeTaxesReceivable_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxesReceivable_lbl">Income taxes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesReceivable" xlink:to="us-gaap_IncomeTaxesReceivable_lbl" xlink:title="label: IncomeTaxesReceivable to us-gaap_IncomeTaxesReceivable_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxesReceivable_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxesReceivable_lbl1" xml:lang="en-US" id="us-gaap_IncomeTaxesReceivable_lbl1">Income Taxes Receivable, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesReceivable" xlink:to="us-gaap_IncomeTaxesReceivable_lbl1" xlink:title="label: IncomeTaxesReceivable to us-gaap_IncomeTaxesReceivable_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesReceivableNoncurrent" xlink:label="IncomeTaxesReceivableNoncurrent" xlink:title="IncomeTaxesReceivableNoncurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxesReceivableNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncomeTaxesReceivableNoncurrent_lbl" xml:lang="en-US" id="us-gaap_IncomeTaxesReceivableNoncurrent_lbl">Income taxes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesReceivableNoncurrent" xlink:to="us-gaap_IncomeTaxesReceivableNoncurrent_lbl" xlink:title="label: IncomeTaxesReceivableNoncurrent to us-gaap_IncomeTaxesReceivableNoncurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeTaxesReceivableNoncurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeTaxesReceivableNoncurrent_lbl1" xml:lang="en-US" id="us-gaap_IncomeTaxesReceivableNoncurrent_lbl1">Income Taxes Receivable, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesReceivableNoncurrent" xlink:to="us-gaap_IncomeTaxesReceivableNoncurrent_lbl1" xlink:title="label: IncomeTaxesReceivableNoncurrent to us-gaap_IncomeTaxesReceivableNoncurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInIncomeTaxes" xlink:label="IncreaseDecreaseInIncomeTaxes" xlink:title="IncreaseDecreaseInIncomeTaxes" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl">Income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInIncomeTaxes" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl" xlink:title="label: IncreaseDecreaseInIncomeTaxes to us-gaap_IncreaseDecreaseInIncomeTaxes_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl1">Increase (Decrease) in Income Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInIncomeTaxes" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl1" xlink:title="label: IncreaseDecreaseInIncomeTaxes to us-gaap_IncreaseDecreaseInIncomeTaxes_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xlink:label="IncreaseDecreaseInContractWithCustomerLiability" xlink:title="IncreaseDecreaseInContractWithCustomerLiability" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl">Deferred revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInContractWithCustomerLiability" xlink:to="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl" xlink:title="label: IncreaseDecreaseInContractWithCustomerLiability to us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl1">Increase (Decrease) in Contract with Customer, Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInContractWithCustomerLiability" xlink:to="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl1" xlink:title="label: IncreaseDecreaseInContractWithCustomerLiability to us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:title="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl">Accounts payable and accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xlink:title="label: IncreaseDecreaseInAccountsPayableAndAccruedLiabilities to us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="IncreaseDecreaseInAccountsReceivable" xlink:title="IncreaseDecreaseInAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl">Trade accounts receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xlink:title="label: IncreaseDecreaseInAccountsReceivable to us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1">Increase (Decrease) in Accounts Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" xlink:title="label: IncreaseDecreaseInAccountsReceivable to us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="IncreaseDecreaseInOtherOperatingAssets" xlink:title="IncreaseDecreaseInOtherOperatingAssets" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl">Other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:title="label: IncreaseDecreaseInOtherOperatingAssets to us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1">Increase (Decrease) in Other Operating Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" xlink:title="label: IncreaseDecreaseInOtherOperatingAssets to us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties" xlink:label="IncreaseDecreaseInNotesReceivableRelatedParties" xlink:title="IncreaseDecreaseInNotesReceivableRelatedParties" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl">Notes receivable - related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNotesReceivableRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl" xlink:title="label: IncreaseDecreaseInNotesReceivableRelatedParties to us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl1">Increase (Decrease) in Notes Receivable, Related Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNotesReceivableRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl1" xlink:title="label: IncreaseDecreaseInNotesReceivableRelatedParties to us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="IncreaseDecreaseInOperatingCapitalAbstract" xlink:title="IncreaseDecreaseInOperatingCapitalAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl">Changes in operating assets and liabilities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xlink:title="label: IncreaseDecreaseInOperatingCapitalAbstract to us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:label="IncreaseDecreaseInPrepaidExpense" xlink:title="IncreaseDecreaseInPrepaidExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl">Prepaid expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInPrepaidExpense" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xlink:title="label: IncreaseDecreaseInPrepaidExpense to us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl1">Increase (Decrease) in Prepaid Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInPrepaidExpense" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl1" xlink:title="label: IncreaseDecreaseInPrepaidExpense to us-gaap_IncreaseDecreaseInPrepaidExpense_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="IncreaseDecreaseInStockholdersEquityRollForward" xlink:title="IncreaseDecreaseInStockholdersEquityRollForward" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" xlink:title="label: IncreaseDecreaseInStockholdersEquityRollForward to us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:title="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xml:lang="en-US" id="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl">Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xlink:title="label: IncrementalCommonSharesAttributableToShareBasedPaymentArrangements to us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestIncomeRelatedParty" xlink:label="InterestIncomeRelatedParty" xlink:title="InterestIncomeRelatedParty" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InterestIncomeRelatedParty_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_InterestIncomeRelatedParty_lbl" xml:lang="en-US" id="us-gaap_InterestIncomeRelatedParty_lbl">Interest added to receivable from related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeRelatedParty" xlink:to="us-gaap_InterestIncomeRelatedParty_lbl" xlink:title="label: InterestIncomeRelatedParty to us-gaap_InterestIncomeRelatedParty_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InterestIncomeRelatedParty_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InterestIncomeRelatedParty_lbl1" xml:lang="en-US" id="us-gaap_InterestIncomeRelatedParty_lbl1">Interest Income, Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeRelatedParty" xlink:to="us-gaap_InterestIncomeRelatedParty_lbl1" xlink:title="label: InterestIncomeRelatedParty to us-gaap_InterestIncomeRelatedParty_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryLandHeldForDevelopmentAndSale" xlink:label="InventoryLandHeldForDevelopmentAndSale" xlink:title="InventoryLandHeldForDevelopmentAndSale" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InventoryLandHeldForDevelopmentAndSale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InventoryLandHeldForDevelopmentAndSale_lbl" xml:lang="en-US" id="us-gaap_InventoryLandHeldForDevelopmentAndSale_lbl">Land development inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InventoryLandHeldForDevelopmentAndSale" xlink:to="us-gaap_InventoryLandHeldForDevelopmentAndSale_lbl" xlink:title="label: InventoryLandHeldForDevelopmentAndSale to us-gaap_InventoryLandHeldForDevelopmentAndSale_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryGrossAbstract" xlink:label="InventoryGrossAbstract" xlink:title="InventoryGrossAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InventoryGrossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_InventoryGrossAbstract_lbl" xml:lang="en-US" id="us-gaap_InventoryGrossAbstract_lbl">Land Development Inventories [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InventoryGrossAbstract" xlink:to="us-gaap_InventoryGrossAbstract_lbl" xlink:title="label: InventoryGrossAbstract to us-gaap_InventoryGrossAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InventoryGrossAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InventoryGrossAbstract_lbl1" xml:lang="en-US" id="us-gaap_InventoryGrossAbstract_lbl1">Inventory, Gross [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InventoryGrossAbstract" xlink:to="us-gaap_InventoryGrossAbstract_lbl1" xlink:title="label: InventoryGrossAbstract to us-gaap_InventoryGrossAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="InventoryPolicyTextBlock" xlink:title="InventoryPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InventoryPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_InventoryPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_InventoryPolicyTextBlock_lbl">Land Development Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InventoryPolicyTextBlock" xlink:to="us-gaap_InventoryPolicyTextBlock_lbl" xlink:title="label: InventoryPolicyTextBlock to us-gaap_InventoryPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InventoryPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InventoryPolicyTextBlock_lbl1" xml:lang="en-US" id="us-gaap_InventoryPolicyTextBlock_lbl1">Inventory, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InventoryPolicyTextBlock" xlink:to="us-gaap_InventoryPolicyTextBlock_lbl1" xlink:title="label: InventoryPolicyTextBlock to us-gaap_InventoryPolicyTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="InvestmentIncomeInterest" xlink:title="InvestmentIncomeInterest" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US" id="us-gaap_InvestmentIncomeInterest_lbl">Interest income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl" xlink:title="label: InvestmentIncomeInterest to us-gaap_InvestmentIncomeInterest_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentIncomeInterest_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentIncomeInterest_lbl1" xml:lang="en-US" id="us-gaap_InvestmentIncomeInterest_lbl1">Investment Income, Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl1" xlink:title="label: InvestmentIncomeInterest to us-gaap_InvestmentIncomeInterest_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:label="InvestmentPolicyTextBlock" xlink:title="InvestmentPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_InvestmentPolicyTextBlock_lbl">Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentPolicyTextBlock" xlink:to="us-gaap_InvestmentPolicyTextBlock_lbl" xlink:title="label: InvestmentPolicyTextBlock to us-gaap_InvestmentPolicyTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:title="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xml:lang="en-US" id="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl">Investments in the WISE assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xlink:title="label: InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures to us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl1" xml:lang="en-US" id="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl1">Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl1" xlink:title="label: InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures to us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentsAbstract" xlink:label="InvestmentsAbstract" xlink:title="InvestmentsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentsAbstract_lbl" xml:lang="en-US" id="us-gaap_InvestmentsAbstract_lbl">Investments [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAbstract" xlink:to="us-gaap_InvestmentsAbstract_lbl" xlink:title="label: InvestmentsAbstract to us-gaap_InvestmentsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseTermOfContract" xlink:label="LesseeOperatingLeaseTermOfContract" xlink:title="LesseeOperatingLeaseTermOfContract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LesseeOperatingLeaseTermOfContract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LesseeOperatingLeaseTermOfContract_lbl" xml:lang="en-US" id="us-gaap_LesseeOperatingLeaseTermOfContract_lbl">Operating lease term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeOperatingLeaseTermOfContract" xlink:to="us-gaap_LesseeOperatingLeaseTermOfContract_lbl" xlink:title="label: LesseeOperatingLeaseTermOfContract to us-gaap_LesseeOperatingLeaseTermOfContract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LesseeOperatingLeaseTermOfContract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LesseeOperatingLeaseTermOfContract_lbl1" xml:lang="en-US" id="us-gaap_LesseeOperatingLeaseTermOfContract_lbl1">Lessee, Operating Lease, Term of Contract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeOperatingLeaseTermOfContract" xlink:to="us-gaap_LesseeOperatingLeaseTermOfContract_lbl1" xlink:title="label: LesseeOperatingLeaseTermOfContract to us-gaap_LesseeOperatingLeaseTermOfContract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:label="LesseeOperatingLeaseRenewalTerm" xlink:title="LesseeOperatingLeaseRenewalTerm" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl" xml:lang="en-US" id="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl">Operating lease extension term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeOperatingLeaseRenewalTerm" xlink:to="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl" xlink:title="label: LesseeOperatingLeaseRenewalTerm to us-gaap_LesseeOperatingLeaseRenewalTerm_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeLeasesPolicyTextBlock" xlink:label="LesseeLeasesPolicyTextBlock" xlink:title="LesseeLeasesPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LesseeLeasesPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_LesseeLeasesPolicyTextBlock_lbl">Oil and Gas Lease Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeLeasesPolicyTextBlock" xlink:to="us-gaap_LesseeLeasesPolicyTextBlock_lbl" xlink:title="label: LesseeLeasesPolicyTextBlock to us-gaap_LesseeLeasesPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LesseeLeasesPolicyTextBlock_lbl1" xml:lang="en-US" id="us-gaap_LesseeLeasesPolicyTextBlock_lbl1">Lessee, Leases [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeLeasesPolicyTextBlock" xlink:to="us-gaap_LesseeLeasesPolicyTextBlock_lbl1" xlink:title="label: LesseeLeasesPolicyTextBlock to us-gaap_LesseeLeasesPolicyTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="LongtermDebtTypeAxis" xlink:title="LongtermDebtTypeAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US" id="us-gaap_LongtermDebtTypeAxis_lbl">Long-term Debt, Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" xlink:title="label: LongtermDebtTypeAxis to us-gaap_LongtermDebtTypeAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="LongtermDebtTypeDomain" xlink:title="LongtermDebtTypeDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" id="us-gaap_LongtermDebtTypeDomain_lbl">Long-term Debt, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" xlink:title="label: LongtermDebtTypeDomain to us-gaap_LongtermDebtTypeDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseCostAbstract" xlink:label="LeaseCostAbstract" xlink:title="LeaseCostAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LeaseCostAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LeaseCostAbstract_lbl" xml:lang="en-US" id="us-gaap_LeaseCostAbstract_lbl">Lease Commitments [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseCostAbstract" xlink:to="us-gaap_LeaseCostAbstract_lbl" xlink:title="label: LeaseCostAbstract to us-gaap_LeaseCostAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LeaseCostAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LeaseCostAbstract_lbl1" xml:lang="en-US" id="us-gaap_LeaseCostAbstract_lbl1">Lease, Cost [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseCostAbstract" xlink:to="us-gaap_LeaseCostAbstract_lbl1" xlink:title="label: LeaseCostAbstract to us-gaap_LeaseCostAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="LiabilitiesAbstract" xlink:title="LiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesAbstract_lbl">LIABILITIES:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xlink:title="label: LiabilitiesAbstract to us-gaap_LiabilitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquity_lbl">Total liabilities and shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:title="label: LiabilitiesAndStockholdersEquity to us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquity_lbl1">Liabilities and Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xlink:title="label: LiabilitiesAndStockholdersEquity to us-gaap_LiabilitiesAndStockholdersEquity_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="LiabilitiesFairValueDisclosure" xlink:title="LiabilitiesFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesFairValueDisclosure_lbl">Liabilities measured at fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesFairValueDisclosure" xlink:to="us-gaap_LiabilitiesFairValueDisclosure_lbl" xlink:title="label: LiabilitiesFairValueDisclosure to us-gaap_LiabilitiesFairValueDisclosure_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_Liabilities_lbl" xml:lang="en-US" id="us-gaap_Liabilities_lbl">Total liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:title="label: Liabilities to us-gaap_Liabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Liabilities_lbl1" xml:lang="en-US" id="us-gaap_Liabilities_lbl1">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="us-gaap_Liabilities_lbl1" xlink:title="label: Liabilities to us-gaap_Liabilities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="LiabilitiesCurrent" xlink:title="LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesCurrent_lbl">Total current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl" xlink:title="label: LiabilitiesCurrent to us-gaap_LiabilitiesCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesCurrent_lbl1" xml:lang="en-US" id="us-gaap_LiabilitiesCurrent_lbl1">Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl1" xlink:title="label: LiabilitiesCurrent to us-gaap_LiabilitiesCurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="LiabilitiesCurrentAbstract" xlink:title="LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesCurrentAbstract_lbl">Current liabilities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:title="label: LiabilitiesCurrentAbstract to us-gaap_LiabilitiesCurrentAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LoansReceivableMember" xlink:label="LoansReceivableMember" xlink:title="LoansReceivableMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LoansReceivableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LoansReceivableMember_lbl" xml:lang="en-US" id="us-gaap_LoansReceivableMember_lbl">Loans Receivable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansReceivableMember" xlink:to="us-gaap_LoansReceivableMember_lbl" xlink:title="label: LoansReceivableMember to us-gaap_LoansReceivableMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="NetCashProvidedByUsedInOperatingActivities" xlink:title="NetCashProvidedByUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl">Net cash provided (used) by operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:title="label: NetCashProvidedByUsedInOperatingActivities to us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xlink:title="label: NetCashProvidedByUsedInOperatingActivities to us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl">Net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" xlink:title="label: NetIncomeLoss to us-gaap_NetIncomeLoss_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetIncomeLoss_lbl1" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl1">Net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl1" xlink:title="label: NetIncomeLoss to us-gaap_NetIncomeLoss_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInInvestingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl">Cash flows from investing activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:title="label: NetCashProvidedByUsedInInvestingActivitiesAbstract to us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl">Cash flows from operating activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:title="label: NetCashProvidedByUsedInOperatingActivitiesAbstract to us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="NetCashProvidedByUsedInInvestingActivities" xlink:title="NetCashProvidedByUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl">Net cash used by investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:title="label: NetCashProvidedByUsedInInvestingActivities to us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" xlink:title="label: NetCashProvidedByUsedInInvestingActivities to us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="NetCashProvidedByUsedInFinancingActivities" xlink:title="NetCashProvidedByUsedInFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl">Net cash provided by financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:title="label: NetCashProvidedByUsedInFinancingActivities to us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" xlink:title="label: NetCashProvidedByUsedInFinancingActivities to us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl">Cash flows from financing activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:title="label: NetCashProvidedByUsedInFinancingActivitiesAbstract to us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:label="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:title="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_lbl" xml:lang="en-US" id="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_lbl">New Accounting Pronouncements or Change in Accounting Principle [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:to="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_lbl" xlink:title="label: NewAccountingPronouncementsOrChangeInAccountingPrincipleTable to us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:label="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:title="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems_lbl" xml:lang="en-US" id="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems_lbl">New Accounting Pronouncements or Change in Accounting Principle [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:to="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems_lbl" xlink:title="label: NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems to us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:title="NewAccountingPronouncementsPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl">Recently Issued Accounting Pronouncements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:title="label: NewAccountingPronouncementsPolicyPolicyTextBlock to us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:label="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:title="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl" xml:lang="en-US" id="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl">New Accounting Pronouncements and Changes in Accounting Principles [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:to="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl" xlink:title="label: NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract to us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableMember" xlink:label="NotesReceivableMember" xlink:title="NotesReceivableMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NotesReceivableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NotesReceivableMember_lbl" xml:lang="en-US" id="us-gaap_NotesReceivableMember_lbl">Notes Receivable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableMember" xlink:to="us-gaap_NotesReceivableMember_lbl" xlink:title="label: NotesReceivableMember to us-gaap_NotesReceivableMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableRelatedParties" xlink:label="NotesReceivableRelatedParties" xlink:title="NotesReceivableRelatedParties" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NotesReceivableRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NotesReceivableRelatedParties_lbl" xml:lang="en-US" id="us-gaap_NotesReceivableRelatedParties_lbl">Notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedParties" xlink:to="us-gaap_NotesReceivableRelatedParties_lbl" xlink:title="label: NotesReceivableRelatedParties to us-gaap_NotesReceivableRelatedParties_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableRelatedPartiesNoncurrent" xlink:label="NotesReceivableRelatedPartiesNoncurrent" xlink:title="NotesReceivableRelatedPartiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NotesReceivableRelatedPartiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NotesReceivableRelatedPartiesNoncurrent_lbl" xml:lang="en-US" id="us-gaap_NotesReceivableRelatedPartiesNoncurrent_lbl">Notes receivable - related parties, including accrued interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedPartiesNoncurrent" xlink:to="us-gaap_NotesReceivableRelatedPartiesNoncurrent_lbl" xlink:title="label: NotesReceivableRelatedPartiesNoncurrent to us-gaap_NotesReceivableRelatedPartiesNoncurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NumberOfOperatingSegments" xlink:label="NumberOfOperatingSegments" xlink:title="NumberOfOperatingSegments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_NumberOfOperatingSegments_lbl" xml:lang="en-US" id="us-gaap_NumberOfOperatingSegments_lbl">Number of operating segments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperatingSegments" xlink:to="us-gaap_NumberOfOperatingSegments_lbl" xlink:title="label: NumberOfOperatingSegments to us-gaap_NumberOfOperatingSegments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NumberOfOperatingSegments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NumberOfOperatingSegments_lbl1" xml:lang="en-US" id="us-gaap_NumberOfOperatingSegments_lbl1">Number of Operating Segments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperatingSegments" xlink:to="us-gaap_NumberOfOperatingSegments_lbl1" xlink:title="label: NumberOfOperatingSegments to us-gaap_NumberOfOperatingSegments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="NumberOfRealEstateProperties" xlink:title="NumberOfRealEstateProperties" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NumberOfRealEstateProperties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_NumberOfRealEstateProperties_lbl" xml:lang="en-US" id="us-gaap_NumberOfRealEstateProperties_lbl">Number of initial lots</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstateProperties" xlink:to="us-gaap_NumberOfRealEstateProperties_lbl" xlink:title="label: NumberOfRealEstateProperties to us-gaap_NumberOfRealEstateProperties_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NumberOfRealEstateProperties_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NumberOfRealEstateProperties_lbl1" xml:lang="en-US" id="us-gaap_NumberOfRealEstateProperties_lbl1">Number of Real Estate Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstateProperties" xlink:to="us-gaap_NumberOfRealEstateProperties_lbl1" xlink:title="label: NumberOfRealEstateProperties to us-gaap_NumberOfRealEstateProperties_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OilAndGasMember" xlink:label="OilAndGasMember" xlink:title="OilAndGasMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OilAndGasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_OilAndGasMember_lbl" xml:lang="en-US" id="us-gaap_OilAndGasMember_lbl">Oil and Gas Leases [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OilAndGasMember" xlink:to="us-gaap_OilAndGasMember_lbl" xlink:title="label: OilAndGasMember to us-gaap_OilAndGasMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OilAndGasMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OilAndGasMember_lbl1" xml:lang="en-US" id="us-gaap_OilAndGasMember_lbl1">Oil and Gas [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OilAndGasMember" xlink:to="us-gaap_OilAndGasMember_lbl1" xlink:title="label: OilAndGasMember to us-gaap_OilAndGasMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasePayments" xlink:label="OperatingLeasePayments" xlink:title="OperatingLeasePayments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeasePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OperatingLeasePayments_lbl" xml:lang="en-US" id="us-gaap_OperatingLeasePayments_lbl">Payment against lease obligation, operating lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasePayments" xlink:to="us-gaap_OperatingLeasePayments_lbl" xlink:title="label: OperatingLeasePayments to us-gaap_OperatingLeasePayments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeasePayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeasePayments_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeasePayments_lbl1">Operating Lease, Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasePayments" xlink:to="us-gaap_OperatingLeasePayments_lbl1" xlink:title="label: OperatingLeasePayments to us-gaap_OperatingLeasePayments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xlink:label="OperatingLeaseWeightedAverageDiscountRatePercent" xlink:title="OperatingLeaseWeightedAverageDiscountRatePercent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl" xml:lang="en-US" id="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl">Weighted average discount rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseWeightedAverageDiscountRatePercent" xlink:to="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl" xlink:title="label: OperatingLeaseWeightedAverageDiscountRatePercent to us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl1">Operating Lease, Weighted Average Discount Rate, Percent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseWeightedAverageDiscountRatePercent" xlink:to="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl1" xlink:title="label: OperatingLeaseWeightedAverageDiscountRatePercent to us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="OperatingLeaseLiability" xlink:title="OperatingLeaseLiability" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_OperatingLeaseLiability_lbl" xml:lang="en-US" id="us-gaap_OperatingLeaseLiability_lbl">Total lease liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseLiability" xlink:to="us-gaap_OperatingLeaseLiability_lbl" xlink:title="label: OperatingLeaseLiability to us-gaap_OperatingLeaseLiability_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseLiability_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeaseLiability_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeaseLiability_lbl1">Lease liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseLiability" xlink:to="us-gaap_OperatingLeaseLiability_lbl1" xlink:title="label: OperatingLeaseLiability to us-gaap_OperatingLeaseLiability_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingCostsAndExpensesAbstract" xlink:label="OperatingCostsAndExpensesAbstract" xlink:title="OperatingCostsAndExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingCostsAndExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingCostsAndExpensesAbstract_lbl" xml:lang="en-US" id="us-gaap_OperatingCostsAndExpensesAbstract_lbl">Expenses:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingCostsAndExpensesAbstract" xlink:to="us-gaap_OperatingCostsAndExpensesAbstract_lbl" xlink:title="label: OperatingCostsAndExpensesAbstract to us-gaap_OperatingCostsAndExpensesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="OperatingLeaseLiabilityNoncurrent" xlink:title="OperatingLeaseLiabilityNoncurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xml:lang="en-US" id="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl">Lease obligations - operating leases, less current portion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseLiabilityNoncurrent" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xlink:title="label: OperatingLeaseLiabilityNoncurrent to us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl1">Lease obligations - operating leases, net of current portion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseLiabilityNoncurrent" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl1" xlink:title="label: OperatingLeaseLiabilityNoncurrent to us-gaap_OperatingLeaseLiabilityNoncurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="OperatingLeaseLiabilityCurrent" xlink:title="OperatingLeaseLiabilityCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xml:lang="en-US" id="us-gaap_OperatingLeaseLiabilityCurrent_lbl">Accounts payable and accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseLiabilityCurrent" xlink:to="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xlink:title="label: OperatingLeaseLiabilityCurrent to us-gaap_OperatingLeaseLiabilityCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeaseLiabilityCurrent_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeaseLiabilityCurrent_lbl1">Current operating lease obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseLiabilityCurrent" xlink:to="us-gaap_OperatingLeaseLiabilityCurrent_lbl1" xlink:title="label: OperatingLeaseLiabilityCurrent to us-gaap_OperatingLeaseLiabilityCurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseExpense" xlink:label="OperatingLeaseExpense" xlink:title="OperatingLeaseExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OperatingLeaseExpense_lbl" xml:lang="en-US" id="us-gaap_OperatingLeaseExpense_lbl">Operating lease expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseExpense" xlink:to="us-gaap_OperatingLeaseExpense_lbl" xlink:title="label: OperatingLeaseExpense to us-gaap_OperatingLeaseExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeaseExpense_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeaseExpense_lbl1">Operating Lease, Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseExpense" xlink:to="us-gaap_OperatingLeaseExpense_lbl1" xlink:title="label: OperatingLeaseExpense to us-gaap_OperatingLeaseExpense_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="OperatingLeaseRightOfUseAsset" xlink:title="OperatingLeaseRightOfUseAsset" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xml:lang="en-US" id="us-gaap_OperatingLeaseRightOfUseAsset_lbl">Operating leases - right of use assets, less current portion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseRightOfUseAsset" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xlink:title="label: OperatingLeaseRightOfUseAsset to us-gaap_OperatingLeaseRightOfUseAsset_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeaseRightOfUseAsset_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeaseRightOfUseAsset_lbl1">Operating leases - right of use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseRightOfUseAsset" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_lbl1" xlink:title="label: OperatingLeaseRightOfUseAsset to us-gaap_OperatingLeaseRightOfUseAsset_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_OperatingLeaseRightOfUseAsset_lbl2" xml:lang="en-US" id="us-gaap_OperatingLeaseRightOfUseAsset_lbl2">Right-to use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseRightOfUseAsset" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_lbl2" xlink:title="label: OperatingLeaseRightOfUseAsset to us-gaap_OperatingLeaseRightOfUseAsset_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsExpirationDate" xlink:label="OperatingLossCarryforwardsExpirationDate" xlink:title="OperatingLossCarryforwardsExpirationDate" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLossCarryforwardsExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLossCarryforwardsExpirationDate_lbl" xml:lang="en-US" id="us-gaap_OperatingLossCarryforwardsExpirationDate_lbl">Net operating loss carryforwards, expiration date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLossCarryforwardsExpirationDate" xlink:to="us-gaap_OperatingLossCarryforwardsExpirationDate_lbl" xlink:title="label: OperatingLossCarryforwardsExpirationDate to us-gaap_OperatingLossCarryforwardsExpirationDate_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:title="OperatingLeaseWeightedAverageRemainingLeaseTerm1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl" xml:lang="en-US" id="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl">Weighted average remaining lease term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:to="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl" xlink:title="label: OperatingLeaseWeightedAverageRemainingLeaseTerm1 to us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl1" xml:lang="en-US" id="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl1">Operating Lease, Weighted Average Remaining Lease Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:to="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl1" xlink:title="label: OperatingLeaseWeightedAverageRemainingLeaseTerm1 to us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="OperatingIncomeLoss" xlink:title="OperatingIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" id="us-gaap_OperatingIncomeLoss_lbl">Operating (loss) income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xlink:title="label: OperatingIncomeLoss to us-gaap_OperatingIncomeLoss_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingIncomeLoss_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingIncomeLoss_lbl1" xml:lang="en-US" id="us-gaap_OperatingIncomeLoss_lbl1">Operating Income (Loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl1" xlink:title="label: OperatingIncomeLoss to us-gaap_OperatingIncomeLoss_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="OperatingLossCarryforwards" xlink:title="OperatingLossCarryforwards" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLossCarryforwards_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_OperatingLossCarryforwards_lbl" xml:lang="en-US" id="us-gaap_OperatingLossCarryforwards_lbl">Net operating loss carryforwards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLossCarryforwards" xlink:to="us-gaap_OperatingLossCarryforwards_lbl" xlink:title="label: OperatingLossCarryforwards to us-gaap_OperatingLossCarryforwards_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLossCarryforwards_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLossCarryforwards_lbl1" xml:lang="en-US" id="us-gaap_OperatingLossCarryforwards_lbl1">Operating Loss Carryforwards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLossCarryforwards" xlink:to="us-gaap_OperatingLossCarryforwards_lbl1" xlink:title="label: OperatingLossCarryforwards to us-gaap_OperatingLossCarryforwards_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsLineItems" xlink:label="OperatingLossCarryforwardsLineItems" xlink:title="OperatingLossCarryforwardsLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLossCarryforwardsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLossCarryforwardsLineItems_lbl" xml:lang="en-US" id="us-gaap_OperatingLossCarryforwardsLineItems_lbl">Operating Loss Carryforwards [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLossCarryforwardsLineItems" xlink:to="us-gaap_OperatingLossCarryforwardsLineItems_lbl" xlink:title="label: OperatingLossCarryforwardsLineItems to us-gaap_OperatingLossCarryforwardsLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsTable" xlink:label="OperatingLossCarryforwardsTable" xlink:title="OperatingLossCarryforwardsTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLossCarryforwardsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLossCarryforwardsTable_lbl" xml:lang="en-US" id="us-gaap_OperatingLossCarryforwardsTable_lbl">Operating Loss Carryforwards [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLossCarryforwardsTable" xlink:to="us-gaap_OperatingLossCarryforwardsTable_lbl" xlink:title="label: OperatingLossCarryforwardsTable to us-gaap_OperatingLossCarryforwardsTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:label="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:title="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US" id="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_lbl">PRESENTATION OF INTERIM INFORMATION</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_lbl" xlink:title="label: OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock to us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract" xlink:label="OtherIncomeAndExpensesAbstract" xlink:title="OtherIncomeAndExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherIncomeAndExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherIncomeAndExpensesAbstract_lbl" xml:lang="en-US" id="us-gaap_OtherIncomeAndExpensesAbstract_lbl">Other income (expense):</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIncomeAndExpensesAbstract" xlink:to="us-gaap_OtherIncomeAndExpensesAbstract_lbl" xlink:title="label: OtherIncomeAndExpensesAbstract to us-gaap_OtherIncomeAndExpensesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="OtherAssetsNoncurrent" xlink:title="OtherAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US" id="us-gaap_OtherAssetsNoncurrent_lbl">Other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl" xlink:title="label: OtherAssetsNoncurrent to us-gaap_OtherAssetsNoncurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" xml:lang="en-US" id="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl">Unrealized holding loss on investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" xlink:title="label: OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax to us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl1" xml:lang="en-US" id="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl1">Unrealized holding losses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl1" xlink:title="label: OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax to us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherMachineryAndEquipmentMember" xlink:label="OtherMachineryAndEquipmentMember" xlink:title="OtherMachineryAndEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherMachineryAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherMachineryAndEquipmentMember_lbl" xml:lang="en-US" id="us-gaap_OtherMachineryAndEquipmentMember_lbl">Other Equipment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherMachineryAndEquipmentMember" xlink:to="us-gaap_OtherMachineryAndEquipmentMember_lbl" xlink:title="label: OtherMachineryAndEquipmentMember to us-gaap_OtherMachineryAndEquipmentMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="OtherNonoperatingIncomeExpense" xlink:title="OtherNonoperatingIncomeExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" id="us-gaap_OtherNonoperatingIncomeExpense_lbl">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl" xlink:title="label: OtherNonoperatingIncomeExpense to us-gaap_OtherNonoperatingIncomeExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherNonoperatingIncomeExpense_lbl1" xml:lang="en-US" id="us-gaap_OtherNonoperatingIncomeExpense_lbl1">Other Nonoperating Income (Expense)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl1" xlink:title="label: OtherNonoperatingIncomeExpense to us-gaap_OtherNonoperatingIncomeExpense_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="OtherAccruedLiabilitiesCurrent" xlink:title="OtherAccruedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" id="us-gaap_OtherAccruedLiabilitiesCurrent_lbl">Operating payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xlink:title="label: OtherAccruedLiabilitiesCurrent to us-gaap_OtherAccruedLiabilitiesCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PrimeRateMember" xlink:label="PrimeRateMember" xlink:title="PrimeRateMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PrimeRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PrimeRateMember_lbl" xml:lang="en-US" id="us-gaap_PrimeRateMember_lbl">Prime Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrimeRateMember" xlink:to="us-gaap_PrimeRateMember_lbl" xlink:title="label: PrimeRateMember to us-gaap_PrimeRateMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PayablesAndAccrualsAbstract" xlink:label="PayablesAndAccrualsAbstract" xlink:title="PayablesAndAccrualsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PayablesAndAccrualsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PayablesAndAccrualsAbstract_lbl" xml:lang="en-US" id="us-gaap_PayablesAndAccrualsAbstract_lbl">ACCRUED LIABILITIES [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesAndAccrualsAbstract" xlink:to="us-gaap_PayablesAndAccrualsAbstract_lbl" xlink:title="label: PayablesAndAccrualsAbstract to us-gaap_PayablesAndAccrualsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:label="PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:title="PaymentsToAcquireOtherPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" xml:lang="en-US" id="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl">Purchase of property and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" xlink:title="label: PaymentsToAcquireOtherPropertyPlantAndEquipment to us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl1" xml:lang="en-US" id="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl1">Payments to Acquire Other Property, Plant, and Equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl1" xlink:title="label: PaymentsToAcquireOtherPropertyPlantAndEquipment to us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments" xlink:label="PaymentsToAcquireShortTermInvestments" xlink:title="PaymentsToAcquireShortTermInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsToAcquireShortTermInvestments_lbl" xml:lang="en-US" id="us-gaap_PaymentsToAcquireShortTermInvestments_lbl">Purchase of short-term investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireShortTermInvestments" xlink:to="us-gaap_PaymentsToAcquireShortTermInvestments_lbl" xlink:title="label: PaymentsToAcquireShortTermInvestments to us-gaap_PaymentsToAcquireShortTermInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsToAcquireShortTermInvestments_lbl1" xml:lang="en-US" id="us-gaap_PaymentsToAcquireShortTermInvestments_lbl1">Payments to Acquire Short-term Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireShortTermInvestments" xlink:to="us-gaap_PaymentsToAcquireShortTermInvestments_lbl1" xlink:title="label: PaymentsToAcquireShortTermInvestments to us-gaap_PaymentsToAcquireShortTermInvestments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems" xlink:label="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="PaymentsToAcquireWaterAndWasteWaterSystems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl" xml:lang="en-US" id="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl">Purchase of water</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:to="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl" xlink:title="label: PaymentsToAcquireWaterAndWasteWaterSystems to us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl1" xml:lang="en-US" id="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl1">Payments to Acquire Water and Waste Water Systems</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:to="us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl1" xlink:title="label: PaymentsToAcquireWaterAndWasteWaterSystems to us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="PlanNameAxis" xlink:title="PlanNameAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PlanNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PlanNameAxis_lbl" xml:lang="en-US" id="us-gaap_PlanNameAxis_lbl">Plan Name [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanNameAxis" xlink:to="us-gaap_PlanNameAxis_lbl" xlink:title="label: PlanNameAxis to us-gaap_PlanNameAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="PlanNameDomain" xlink:title="PlanNameDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PlanNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PlanNameDomain_lbl" xml:lang="en-US" id="us-gaap_PlanNameDomain_lbl">Plan Name [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanNameDomain" xlink:to="us-gaap_PlanNameDomain_lbl" xlink:title="label: PlanNameDomain to us-gaap_PlanNameDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="PortionAtFairValueFairValueDisclosureMember" xlink:title="PortionAtFairValueFairValueDisclosureMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xml:lang="en-US" id="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl">Portion at Fair Value Measurement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortionAtFairValueFairValueDisclosureMember" xlink:to="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xlink:title="label: PortionAtFairValueFairValueDisclosureMember to us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockLiquidationPreferenceValue" xlink:label="PreferredStockLiquidationPreferenceValue" xlink:title="PreferredStockLiquidationPreferenceValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US" id="us-gaap_PreferredStockLiquidationPreferenceValue_lbl">Liquidation preference</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockLiquidationPreferenceValue" xlink:to="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:title="label: PreferredStockLiquidationPreferenceValue to us-gaap_PreferredStockLiquidationPreferenceValue_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="PreferredStockMember" xlink:title="PreferredStockMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PreferredStockMember_lbl" xml:lang="en-US" id="us-gaap_PreferredStockMember_lbl">Preferred Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" xlink:title="label: PreferredStockMember to us-gaap_PreferredStockMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockMember_lbl1" xml:lang="en-US" id="us-gaap_PreferredStockMember_lbl1">Preferred Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl1" xlink:title="label: PreferredStockMember to us-gaap_PreferredStockMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="PreferredStockSharesIssued" xlink:title="PreferredStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" id="us-gaap_PreferredStockSharesIssued_lbl">Preferred stock, shares issued (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" xlink:title="label: PreferredStockSharesIssued to us-gaap_PreferredStockSharesIssued_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="PreferredStockValue" xlink:title="PreferredStockValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" id="us-gaap_PreferredStockValue_lbl">Preferred stock, Series B - par value $0.001 per share, 25 million shares authorized; 432,513 shares issued and outstanding (liquidation preference of $432,513)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" xlink:title="label: PreferredStockValue to us-gaap_PreferredStockValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockValue_lbl1" xml:lang="en-US" id="us-gaap_PreferredStockValue_lbl1">Preferred Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl1" xlink:title="label: PreferredStockValue to us-gaap_PreferredStockValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="PreferredStockSharesOutstanding" xlink:title="PreferredStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_PreferredStockSharesOutstanding_lbl">Preferred stock, shares outstanding (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:title="label: PreferredStockSharesOutstanding to us-gaap_PreferredStockSharesOutstanding_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="PreferredStockParOrStatedValuePerShare" xlink:title="PreferredStockParOrStatedValuePerShare" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="us-gaap_PreferredStockParOrStatedValuePerShare_lbl">Preferred stock, par value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:title="label: PreferredStockParOrStatedValuePerShare to us-gaap_PreferredStockParOrStatedValuePerShare_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="PreferredStockSharesAuthorized" xlink:title="PreferredStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US" id="us-gaap_PreferredStockSharesAuthorized_lbl">Preferred stock, shares authorized (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:title="label: PreferredStockSharesAuthorized to us-gaap_PreferredStockSharesAuthorized_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:label="PrepaidExpenseCurrent" xlink:title="PrepaidExpenseCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PrepaidExpenseCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PrepaidExpenseCurrent_lbl" xml:lang="en-US" id="us-gaap_PrepaidExpenseCurrent_lbl">Prepaid expenses and deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaidExpenseCurrent" xlink:to="us-gaap_PrepaidExpenseCurrent_lbl" xlink:title="label: PrepaidExpenseCurrent to us-gaap_PrepaidExpenseCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PrepaidExpenseCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PrepaidExpenseCurrent_lbl1" xml:lang="en-US" id="us-gaap_PrepaidExpenseCurrent_lbl1">Prepaid Expense, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaidExpenseCurrent" xlink:to="us-gaap_PrepaidExpenseCurrent_lbl1" xlink:title="label: PrepaidExpenseCurrent to us-gaap_PrepaidExpenseCurrent_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="PriorPeriodReclassificationAdjustmentDescription" xlink:title="PriorPeriodReclassificationAdjustmentDescription" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US" id="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl">Reclassifications</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PriorPeriodReclassificationAdjustmentDescription" xlink:to="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xlink:title="label: PriorPeriodReclassificationAdjustmentDescription to us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:label="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:title="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl">Sale and maturities of short-term investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:to="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl" xlink:title="label: ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments to us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl1" xml:lang="en-US" id="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl1">Proceeds from Sale, Maturity and Collection of Short-term Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:to="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl1" xlink:title="label: ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments to us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromCustomersForProgressPayments" xlink:label="ProceedsFromCustomersForProgressPayments" xlink:title="ProceedsFromCustomersForProgressPayments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromCustomersForProgressPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ProceedsFromCustomersForProgressPayments_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromCustomersForProgressPayments_lbl">Proceeds from sale of lots</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromCustomersForProgressPayments" xlink:to="us-gaap_ProceedsFromCustomersForProgressPayments_lbl" xlink:title="label: ProceedsFromCustomersForProgressPayments to us-gaap_ProceedsFromCustomersForProgressPayments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromCustomersForProgressPayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromCustomersForProgressPayments_lbl1" xml:lang="en-US" id="us-gaap_ProceedsFromCustomersForProgressPayments_lbl1">Proceeds from Customers for Progress Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromCustomersForProgressPayments" xlink:to="us-gaap_ProceedsFromCustomersForProgressPayments_lbl1" xlink:title="label: ProceedsFromCustomersForProgressPayments to us-gaap_ProceedsFromCustomersForProgressPayments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:label="ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:title="ProceedsFromIssuanceOfSecuredTaxExemptDebt" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt_lbl">Net proceeds from sale of bonds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt_lbl" xlink:title="label: ProceedsFromIssuanceOfSecuredTaxExemptDebt to us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="ProceedsFromStockOptionsExercised" xlink:title="ProceedsFromStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromStockOptionsExercised_lbl">Proceeds from exercise of stock options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl" xlink:title="label: ProceedsFromStockOptionsExercised to us-gaap_ProceedsFromStockOptionsExercised_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="PropertyPlantAndEquipmentUsefulLife" xlink:title="PropertyPlantAndEquipmentUsefulLife" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl">Estimated useful lives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xlink:title="label: PropertyPlantAndEquipmentUsefulLife to us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="PropertyPlantAndEquipmentLineItems" xlink:title="PropertyPlantAndEquipmentLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentLineItems_lbl">Property, Plant and Equipment [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xlink:title="label: PropertyPlantAndEquipmentLineItems to us-gaap_PropertyPlantAndEquipmentLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="PropertyPlantAndEquipmentDisclosureTextBlock" xlink:title="PropertyPlantAndEquipmentDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl">WATER AND LAND ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xlink:title="label: PropertyPlantAndEquipmentDisclosureTextBlock to us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="PropertyPlantAndEquipmentByTypeAxis" xlink:title="PropertyPlantAndEquipmentByTypeAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl">Property, Plant and Equipment, Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xlink:title="label: PropertyPlantAndEquipmentByTypeAxis to us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="PropertyPlantAndEquipmentTextBlock" xlink:title="PropertyPlantAndEquipmentTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl">Investments in Water and Water Systems</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xlink:title="label: PropertyPlantAndEquipmentTextBlock to us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="PropertyPlantAndEquipmentAbstract" xlink:title="PropertyPlantAndEquipmentAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentAbstract_lbl">WATER AND LAND ASSETS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xlink:title="label: PropertyPlantAndEquipmentAbstract to us-gaap_PropertyPlantAndEquipmentAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyManagementFeePercentFee" xlink:label="PropertyManagementFeePercentFee" xlink:title="PropertyManagementFeePercentFee" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyManagementFeePercentFee_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyManagementFeePercentFee_lbl" xml:lang="en-US" id="us-gaap_PropertyManagementFeePercentFee_lbl">Project management fee percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyManagementFeePercentFee" xlink:to="us-gaap_PropertyManagementFeePercentFee_lbl" xlink:title="label: PropertyManagementFeePercentFee to us-gaap_PropertyManagementFeePercentFee_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="PropertyPlantAndEquipmentTypeDomain" xlink:title="PropertyPlantAndEquipmentTypeDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl">Property, Plant and Equipment, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xlink:title="label: PropertyPlantAndEquipmentTypeDomain to us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="PropertyPlantAndEquipmentGross" xlink:title="PropertyPlantAndEquipmentGross" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentGross_lbl">Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" xlink:title="label: PropertyPlantAndEquipmentGross to us-gaap_PropertyPlantAndEquipmentGross_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentNet_lbl">Investments in water and water systems, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:title="label: PropertyPlantAndEquipmentNet to us-gaap_PropertyPlantAndEquipmentNet_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentNet_lbl1">Net investments in water and water systems</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xlink:title="label: PropertyPlantAndEquipmentNet to us-gaap_PropertyPlantAndEquipmentNet_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:label="PropertyPlantAndEquipmentNetAbstract" xlink:title="PropertyPlantAndEquipmentNetAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl">Investment in Water and Water Systems [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNetAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xlink:title="label: PropertyPlantAndEquipmentNetAbstract to us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="ProvisionForDoubtfulAccounts" xlink:title="ProvisionForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US" id="us-gaap_ProvisionForDoubtfulAccounts_lbl">Recovery of doubtful accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl" xlink:title="label: ProvisionForDoubtfulAccounts to us-gaap_ProvisionForDoubtfulAccounts_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateInvestments" xlink:label="RealEstateInvestments" xlink:title="RealEstateInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateInvestments_lbl" xml:lang="en-US" id="us-gaap_RealEstateInvestments_lbl">Long-term land investment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestments" xlink:to="us-gaap_RealEstateInvestments_lbl" xlink:title="label: RealEstateInvestments to us-gaap_RealEstateInvestments_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="ReceivableTypeDomain" xlink:title="ReceivableTypeDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ReceivableTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ReceivableTypeDomain_lbl" xml:lang="en-US" id="us-gaap_ReceivableTypeDomain_lbl">Receivable [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivableTypeDomain" xlink:to="us-gaap_ReceivableTypeDomain_lbl" xlink:title="label: ReceivableTypeDomain to us-gaap_ReceivableTypeDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:label="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:title="ReconciliationOfAssetsFromSegmentToConsolidatedTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_lbl" xml:lang="en-US" id="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_lbl">Reconciliation of Assets from Segment to Consolidated [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:to="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_lbl" xlink:title="label: ReconciliationOfAssetsFromSegmentToConsolidatedTable to us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="RelatedPartyTransactionsAbstract" xlink:title="RelatedPartyTransactionsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionsAbstract_lbl">RELATED PARTY TRANSACTIONS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:title="label: RelatedPartyTransactionsAbstract to us-gaap_RelatedPartyTransactionsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyDomain_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyDomain_lbl">Related Party [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyDomain" xlink:to="us-gaap_RelatedPartyDomain_lbl" xlink:title="label: RelatedPartyDomain to us-gaap_RelatedPartyDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="RelatedPartyTransactionLineItems" xlink:title="RelatedPartyTransactionLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionLineItems_lbl">Related Party Transaction [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:title="label: RelatedPartyTransactionLineItems to us-gaap_RelatedPartyTransactionLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:label="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="RelatedPartyTransactionDueFromToRelatedPartyAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl">Related Party Transactions [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" xlink:title="label: RelatedPartyTransactionDueFromToRelatedPartyAbstract to us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1">Related Party Transaction, Due from (to) Related Party [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" xlink:title="label: RelatedPartyTransactionDueFromToRelatedPartyAbstract to us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl">Related Party [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:title="label: RelatedPartyTransactionsByRelatedPartyAxis to us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="RelatedPartyTransactionAxis" xlink:title="RelatedPartyTransactionAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionAxis_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionAxis_lbl">Related Party Transaction [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionAxis" xlink:to="us-gaap_RelatedPartyTransactionAxis_lbl" xlink:title="label: RelatedPartyTransactionAxis to us-gaap_RelatedPartyTransactionAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="RelatedPartyTransactionAmountsOfTransaction" xlink:title="RelatedPartyTransactionAmountsOfTransaction" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl">Funding pursuant to participation agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionAmountsOfTransaction" xlink:to="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl" xlink:title="label: RelatedPartyTransactionAmountsOfTransaction to us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl1" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl1">Related Party Transaction, Amounts of Transaction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionAmountsOfTransaction" xlink:to="us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl1" xlink:title="label: RelatedPartyTransactionAmountsOfTransaction to us-gaap_RelatedPartyTransactionAmountsOfTransaction_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain" xlink:title="RelatedPartyTransactionDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionDomain_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionDomain_lbl">Related Party Transaction [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionDomain" xlink:to="us-gaap_RelatedPartyTransactionDomain_lbl" xlink:title="label: RelatedPartyTransactionDomain to us-gaap_RelatedPartyTransactionDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="RelatedPartyTransactionsDisclosureTextBlock" xlink:title="RelatedPartyTransactionsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl">RELATED PARTY TRANSACTIONS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:title="label: RelatedPartyTransactionsDisclosureTextBlock to us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl1" xml:lang="en-US" id="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl1">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl1" xlink:title="label: RelatedPartyTransactionsDisclosureTextBlock to us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RentalIncomeNonoperating" xlink:label="RentalIncomeNonoperating" xlink:title="RentalIncomeNonoperating" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RentalIncomeNonoperating_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_RentalIncomeNonoperating_lbl" xml:lang="en-US" id="us-gaap_RentalIncomeNonoperating_lbl">Oil and gas lease income, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalIncomeNonoperating" xlink:to="us-gaap_RentalIncomeNonoperating_lbl" xlink:title="label: RentalIncomeNonoperating to us-gaap_RentalIncomeNonoperating_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RentalIncomeNonoperating_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RentalIncomeNonoperating_lbl1" xml:lang="en-US" id="us-gaap_RentalIncomeNonoperating_lbl1">Rental Income, Nonoperating</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalIncomeNonoperating" xlink:to="us-gaap_RentalIncomeNonoperating_lbl1" xlink:title="label: RentalIncomeNonoperating to us-gaap_RentalIncomeNonoperating_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="RepaymentsOfNotesPayable" xlink:title="RepaymentsOfNotesPayable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RepaymentsOfNotesPayable_lbl" xml:lang="en-US" id="us-gaap_RepaymentsOfNotesPayable_lbl">Repayment of note payable including interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfNotesPayable" xlink:to="us-gaap_RepaymentsOfNotesPayable_lbl" xlink:title="label: RepaymentsOfNotesPayable to us-gaap_RepaymentsOfNotesPayable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="RetainedEarningsAccumulatedDeficit" xlink:title="RetainedEarningsAccumulatedDeficit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" id="us-gaap_RetainedEarningsAccumulatedDeficit_lbl">Accumulated deficit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:title="label: RetainedEarningsAccumulatedDeficit to us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" id="us-gaap_RetainedEarningsMember_lbl">Accumulated Deficit [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl" xlink:title="label: RetainedEarningsMember to us-gaap_RetainedEarningsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RetainedEarningsMember_lbl1" xml:lang="en-US" id="us-gaap_RetainedEarningsMember_lbl1">Retained Earnings [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl1" xlink:title="label: RetainedEarningsMember to us-gaap_RetainedEarningsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligationPercentage" xlink:label="RevenueRemainingPerformanceObligationPercentage" xlink:title="RevenueRemainingPerformanceObligationPercentage" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenueRemainingPerformanceObligationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueRemainingPerformanceObligationPercentage_lbl" xml:lang="en-US" id="us-gaap_RevenueRemainingPerformanceObligationPercentage_lbl">Remaining performance obligation expected to be recognized in the next 12 months</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueRemainingPerformanceObligationPercentage" xlink:to="us-gaap_RevenueRemainingPerformanceObligationPercentage_lbl" xlink:title="label: RevenueRemainingPerformanceObligationPercentage to us-gaap_RevenueRemainingPerformanceObligationPercentage_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuePerformanceObligationAbstract" xlink:label="RevenuePerformanceObligationAbstract" xlink:title="RevenuePerformanceObligationAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenuePerformanceObligationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenuePerformanceObligationAbstract_lbl" xml:lang="en-US" id="us-gaap_RevenuePerformanceObligationAbstract_lbl">Revenue, Performance Obligation [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuePerformanceObligationAbstract" xlink:to="us-gaap_RevenuePerformanceObligationAbstract_lbl" xlink:title="label: RevenuePerformanceObligationAbstract to us-gaap_RevenuePerformanceObligationAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:label="RevenueFromContractWithCustomerPolicyTextBlock" xlink:title="RevenueFromContractWithCustomerPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_lbl">Revenue Recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractWithCustomerPolicyTextBlock" xlink:to="us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_lbl" xlink:title="label: RevenueFromContractWithCustomerPolicyTextBlock to us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xml:lang="en-US" id="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl">Total revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xlink:title="label: RevenueFromContractWithCustomerExcludingAssessedTax to us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl1" xml:lang="en-US" id="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl1">Revenue from Contract with Customer, Excluding Assessed Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl1" xlink:title="label: RevenueFromContractWithCustomerExcludingAssessedTax to us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligation" xlink:label="RevenueRemainingPerformanceObligation" xlink:title="RevenueRemainingPerformanceObligation" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenueRemainingPerformanceObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenueRemainingPerformanceObligation_lbl" xml:lang="en-US" id="us-gaap_RevenueRemainingPerformanceObligation_lbl">Remaining performance obligation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueRemainingPerformanceObligation" xlink:to="us-gaap_RevenueRemainingPerformanceObligation_lbl" xlink:title="label: RevenueRemainingPerformanceObligation to us-gaap_RevenueRemainingPerformanceObligation_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="RevenuesAbstract" xlink:title="RevenuesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenuesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US" id="us-gaap_RevenuesAbstract_lbl">Revenues:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xlink:title="label: RevenuesAbstract to us-gaap_RevenuesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RisksAndUncertaintiesAbstract" xlink:label="RisksAndUncertaintiesAbstract" xlink:title="RisksAndUncertaintiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RisksAndUncertaintiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RisksAndUncertaintiesAbstract_lbl" xml:lang="en-US" id="us-gaap_RisksAndUncertaintiesAbstract_lbl">SIGNIFICANT CUSTOMERS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksAndUncertaintiesAbstract" xlink:to="us-gaap_RisksAndUncertaintiesAbstract_lbl" xlink:title="label: RisksAndUncertaintiesAbstract to us-gaap_RisksAndUncertaintiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RoyaltyIncomeNonoperating" xlink:label="RoyaltyIncomeNonoperating" xlink:title="RoyaltyIncomeNonoperating" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RoyaltyIncomeNonoperating_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RoyaltyIncomeNonoperating_lbl" xml:lang="en-US" id="us-gaap_RoyaltyIncomeNonoperating_lbl">Oil and gas royalty income, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyIncomeNonoperating" xlink:to="us-gaap_RoyaltyIncomeNonoperating_lbl" xlink:title="label: RoyaltyIncomeNonoperating to us-gaap_RoyaltyIncomeNonoperating_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RoyaltyIncomeNonoperating_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RoyaltyIncomeNonoperating_lbl1" xml:lang="en-US" id="us-gaap_RoyaltyIncomeNonoperating_lbl1">Oil and gas royalty income, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyIncomeNonoperating" xlink:to="us-gaap_RoyaltyIncomeNonoperating_lbl1" xlink:title="label: RoyaltyIncomeNonoperating to us-gaap_RoyaltyIncomeNonoperating_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubleaseIncome" xlink:label="SubleaseIncome" xlink:title="SubleaseIncome" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SubleaseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_SubleaseIncome_lbl" xml:lang="en-US" id="us-gaap_SubleaseIncome_lbl">Sublease rental income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubleaseIncome" xlink:to="us-gaap_SubleaseIncome_lbl" xlink:title="label: SubleaseIncome to us-gaap_SubleaseIncome_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SubleaseIncome_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubleaseIncome_lbl1" xml:lang="en-US" id="us-gaap_SubleaseIncome_lbl1">Sublease Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubleaseIncome" xlink:to="us-gaap_SubleaseIncome_lbl1" xlink:title="label: SubleaseIncome to us-gaap_SubleaseIncome_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl">Weighted Average Grant Date Fair Value [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl">Non-vested options outstanding, beginning of period (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl1">Non-vested options outstanding, end of period (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl2" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl2">Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl2" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl">Vested (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl">Vested (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl">Weighted average remaining contractual term, options exercisable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl">Expiration period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl">Forfeited (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl">Weighted-average period for options expected to vest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1 to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1 to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl">Non-vested options outstanding, end of period (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl1">Non-vested options outstanding, beginning of period (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl2" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl2">Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl2" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl">Number of Options [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl">Approximate aggregate intrinsic value, options exercisable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl">Forfeited (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl">Weighted average remaining contractual term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl1" xml:lang="en-US" id="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl1" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 to us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SalesRevenueNetMember" xlink:label="SalesRevenueNetMember" xlink:title="SalesRevenueNetMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SalesRevenueNetMember_lbl" xml:lang="en-US" id="us-gaap_SalesRevenueNetMember_lbl">Revenue [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_lbl" xlink:title="label: SalesRevenueNetMember to us-gaap_SalesRevenueNetMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SalesMember" xlink:label="SalesMember" xlink:title="SalesMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SalesMember_lbl" xml:lang="en-US" id="us-gaap_SalesMember_lbl">Sales [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesMember" xlink:to="us-gaap_SalesMember_lbl" xlink:title="label: SalesMember to us-gaap_SalesMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock" xlink:label="ScheduleOfNonvestedShareActivityTableTextBlock" xlink:title="ScheduleOfNonvestedShareActivityTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock_lbl">Non-Vested Options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfNonvestedShareActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock_lbl" xlink:title="label: ScheduleOfNonvestedShareActivityTableTextBlock to us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:title="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl">Stock Option Activity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xlink:title="label: ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock to us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:title="ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl">Deferred Tax Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xlink:title="label: ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock to us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" xlink:label="ScheduleOfDebtTableTextBlock" xlink:title="ScheduleOfDebtTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfDebtTableTextBlock_lbl">Remaining Third Party Obligation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xlink:title="label: ScheduleOfDebtTableTextBlock to us-gaap_ScheduleOfDebtTableTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xlink:title="label: ScheduleOfSegmentReportingInformationBySegmentTable to us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl">Segment Information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xlink:title="label: ScheduleOfSegmentReportingInformationBySegmentTextBlock to us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl1" xml:lang="en-US" id="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl1">Schedule of Segment Reporting Information, by Segment [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl1" xlink:title="label: ScheduleOfSegmentReportingInformationBySegmentTextBlock to us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="ScheduleOfPropertyPlantAndEquipmentTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl">Property, Plant and Equipment [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xlink:title="label: ScheduleOfPropertyPlantAndEquipmentTable to us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:title="label: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xlink:title="label: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:label="ScheduleOfShortTermDebtTable" xlink:title="ScheduleOfShortTermDebtTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfShortTermDebtTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfShortTermDebtTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfShortTermDebtTable_lbl">Schedule of Short-term Debt [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShortTermDebtTable" xlink:to="us-gaap_ScheduleOfShortTermDebtTable_lbl" xlink:title="label: ScheduleOfShortTermDebtTable to us-gaap_ScheduleOfShortTermDebtTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationAdditionalInformationAbstract" xlink:label="SegmentReportingInformationAdditionalInformationAbstract" xlink:title="SegmentReportingInformationAdditionalInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl">Segment Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationAdditionalInformationAbstract" xlink:to="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl" xlink:title="label: SegmentReportingInformationAdditionalInformationAbstract to us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl1" xml:lang="en-US" id="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl1">Segment Reporting Information, Additional Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationAdditionalInformationAbstract" xlink:to="us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl1" xlink:title="label: SegmentReportingInformationAdditionalInformationAbstract to us-gaap_SegmentReportingInformationAdditionalInformationAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="SegmentReportingInformationLineItems" xlink:title="SegmentReportingInformationLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingInformationLineItems_lbl">Segment Reporting Information [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:title="label: SegmentReportingInformationLineItems to us-gaap_SegmentReportingInformationLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentDomain_lbl" xml:lang="en-US" id="us-gaap_SegmentDomain_lbl">Segments [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentDomain" xlink:to="us-gaap_SegmentDomain_lbl" xlink:title="label: SegmentDomain to us-gaap_SegmentDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="SegmentReportingAbstract" xlink:title="SegmentReportingAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingAbstract_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingAbstract_lbl">SEGMENT INFORMATION [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingAbstract" xlink:to="us-gaap_SegmentReportingAbstract_lbl" xlink:title="label: SegmentReportingAbstract to us-gaap_SegmentReportingAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationRevenueAbstract" xlink:label="SegmentReportingInformationRevenueAbstract" xlink:title="SegmentReportingInformationRevenueAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationRevenueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_SegmentReportingInformationRevenueAbstract_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingInformationRevenueAbstract_lbl">Segment Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationRevenueAbstract" xlink:to="us-gaap_SegmentReportingInformationRevenueAbstract_lbl" xlink:title="label: SegmentReportingInformationRevenueAbstract to us-gaap_SegmentReportingInformationRevenueAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationRevenueAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingInformationRevenueAbstract_lbl1" xml:lang="en-US" id="us-gaap_SegmentReportingInformationRevenueAbstract_lbl1">Segment Reporting Information, Revenue for Reportable Segment [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationRevenueAbstract" xlink:to="us-gaap_SegmentReportingInformationRevenueAbstract_lbl1" xlink:title="label: SegmentReportingInformationRevenueAbstract to us-gaap_SegmentReportingInformationRevenueAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:label="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:title="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl">Segment Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:to="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl" xlink:title="label: SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract to us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl1" xml:lang="en-US" id="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl1">Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:to="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl1" xlink:title="label: SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract to us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="SegmentReportingDisclosureTextBlock" xlink:title="SegmentReportingDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingDisclosureTextBlock_lbl">SEGMENT INFORMATION</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingDisclosureTextBlock" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xlink:title="label: SegmentReportingDisclosureTextBlock to us-gaap_SegmentReportingDisclosureTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SeniorSubordinatedNotesMember" xlink:label="SeniorSubordinatedNotesMember" xlink:title="SeniorSubordinatedNotesMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SeniorSubordinatedNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SeniorSubordinatedNotesMember_lbl" xml:lang="en-US" id="us-gaap_SeniorSubordinatedNotesMember_lbl">Subordinate Bonds [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorSubordinatedNotesMember" xlink:to="us-gaap_SeniorSubordinatedNotesMember_lbl" xlink:title="label: SeniorSubordinatedNotesMember to us-gaap_SeniorSubordinatedNotesMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="SeniorNotesMember" xlink:title="SeniorNotesMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SeniorNotesMember_lbl" xml:lang="en-US" id="us-gaap_SeniorNotesMember_lbl">Senior Bonds [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesMember" xlink:to="us-gaap_SeniorNotesMember_lbl" xlink:title="label: SeniorNotesMember to us-gaap_SeniorNotesMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ServiceOtherMember" xlink:label="ServiceOtherMember" xlink:title="ServiceOtherMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ServiceOtherMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_ServiceOtherMember_lbl" xml:lang="en-US" id="us-gaap_ServiceOtherMember_lbl">Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiceOtherMember" xlink:to="us-gaap_ServiceOtherMember_lbl" xlink:title="label: ServiceOtherMember to us-gaap_ServiceOtherMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ServiceOtherMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ServiceOtherMember_lbl1" xml:lang="en-US" id="us-gaap_ServiceOtherMember_lbl1">Service, Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiceOtherMember" xlink:to="us-gaap_ServiceOtherMember_lbl1" xlink:title="label: ServiceOtherMember to us-gaap_ServiceOtherMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl">Exercised (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl">Weighted Average Exercise Price [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl">Granted (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl1">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl1" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationAbstract" xlink:label="ShareBasedCompensationAbstract" xlink:title="ShareBasedCompensationAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ShareBasedCompensationAbstract_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationAbstract_lbl">Share-Based Compensation [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationAbstract" xlink:to="us-gaap_ShareBasedCompensationAbstract_lbl" xlink:title="label: ShareBasedCompensationAbstract to us-gaap_ShareBasedCompensationAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationAbstract_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationAbstract_lbl1">Share-based Payment Arrangement, Noncash Expense [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationAbstract" xlink:to="us-gaap_ShareBasedCompensationAbstract_lbl1" xlink:title="label: ShareBasedCompensationAbstract to us-gaap_ShareBasedCompensationAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensation_lbl">Share-based compensation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" xlink:title="label: ShareBasedCompensation to us-gaap_ShareBasedCompensation_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ShareBasedCompensation_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensation_lbl1">Share-based compensation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl1" xlink:title="label: ShareBasedCompensation to us-gaap_ShareBasedCompensation_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharePrice" xlink:label="SharePrice" xlink:title="SharePrice" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_SharePrice_lbl" xml:lang="en-US" id="us-gaap_SharePrice_lbl">Stock price (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePrice" xlink:to="us-gaap_SharePrice_lbl" xlink:title="label: SharePrice to us-gaap_SharePrice_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharePrice_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharePrice_lbl1" xml:lang="en-US" id="us-gaap_SharePrice_lbl1">Share Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePrice" xlink:to="us-gaap_SharePrice_lbl1" xlink:title="label: SharePrice to us-gaap_SharePrice_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl">Granted (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl">Shareholders' Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl">Vesting period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl">Granted (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl1">Weighted average grant-date fair value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl">Reserved shares of common stock for issuance (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl">Options exercisable (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl">Options exercisable (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl">Stock Options [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl">Forfeited or expired (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl">Forfeited or expired (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:title="ShareBasedCompensationOptionAndIncentivePlansPolicy" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl">Share-Based Compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xlink:title="label: ShareBasedCompensationOptionAndIncentivePlansPolicy to us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl1">Share-based Payment Arrangement [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl1" xlink:title="label: ShareBasedCompensationOptionAndIncentivePlansPolicy to us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl">Outstanding, beginning of period (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl1">Outstanding, end of period (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl2" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl2">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl">Outstanding, beginning of period (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1">Outstanding, end of period (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl2" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl2">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl">Approximate aggregate intrinsic value, outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl1" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl1" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xml:lang="en-US" id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl">Number of Options [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward to us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="SharesOutstanding" xlink:title="SharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_SharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_SharesOutstanding_lbl">Balance (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl" xlink:title="label: SharesOutstanding to us-gaap_SharesOutstanding_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharesOutstanding_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_SharesOutstanding_lbl1" xml:lang="en-US" id="us-gaap_SharesOutstanding_lbl1">Balance (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl1" xlink:title="label: SharesOutstanding to us-gaap_SharesOutstanding_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SharesOutstanding_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SharesOutstanding_lbl2" xml:lang="en-US" id="us-gaap_SharesOutstanding_lbl2">Shares, Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl2" xlink:title="label: SharesOutstanding to us-gaap_SharesOutstanding_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermInvestments" xlink:label="ShortTermInvestments" xlink:title="ShortTermInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShortTermInvestments_lbl" xml:lang="en-US" id="us-gaap_ShortTermInvestments_lbl">Short-term investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShortTermInvestments" xlink:to="us-gaap_ShortTermInvestments_lbl" xlink:title="label: ShortTermInvestments to us-gaap_ShortTermInvestments_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="ShortTermDebtLineItems" xlink:title="ShortTermDebtLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ShortTermDebtLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ShortTermDebtLineItems_lbl" xml:lang="en-US" id="us-gaap_ShortTermDebtLineItems_lbl">Short-term Debt [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShortTermDebtLineItems" xlink:to="us-gaap_ShortTermDebtLineItems_lbl" xlink:title="label: ShortTermDebtLineItems to us-gaap_ShortTermDebtLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="StateAndLocalJurisdictionMember" xlink:title="StateAndLocalJurisdictionMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StateAndLocalJurisdictionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_StateAndLocalJurisdictionMember_lbl" xml:lang="en-US" id="us-gaap_StateAndLocalJurisdictionMember_lbl">State [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateAndLocalJurisdictionMember" xlink:to="us-gaap_StateAndLocalJurisdictionMember_lbl" xlink:title="label: StateAndLocalJurisdictionMember to us-gaap_StateAndLocalJurisdictionMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StateAndLocalJurisdictionMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StateAndLocalJurisdictionMember_lbl1" xml:lang="en-US" id="us-gaap_StateAndLocalJurisdictionMember_lbl1">State and Local Jurisdiction [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateAndLocalJurisdictionMember" xlink:to="us-gaap_StateAndLocalJurisdictionMember_lbl1" xlink:title="label: StateAndLocalJurisdictionMember to us-gaap_StateAndLocalJurisdictionMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfFinancialPositionAbstract_lbl">CONSOLIDATED BALANCE SHEETS (unaudited) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:title="label: StatementOfFinancialPositionAbstract to us-gaap_StatementOfFinancialPositionAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementTable_lbl" xml:lang="en-US" id="us-gaap_StatementTable_lbl">Statement [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:title="label: StatementTable to us-gaap_StatementTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US" id="us-gaap_StatementBusinessSegmentsAxis_lbl">Segments [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:title="label: StatementBusinessSegmentsAxis to us-gaap_StatementBusinessSegmentsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementLineItems_lbl" xml:lang="en-US" id="us-gaap_StatementLineItems_lbl">Statement [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xlink:title="label: StatementLineItems to us-gaap_StatementLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfCashFlowsAbstract_lbl">CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:title="label: StatementOfCashFlowsAbstract to us-gaap_StatementOfCashFlowsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="StatementEquityComponentsAxis" xlink:title="StatementEquityComponentsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US" id="us-gaap_StatementEquityComponentsAxis_lbl">Equity Components [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" xlink:title="label: StatementEquityComponentsAxis to us-gaap_StatementEquityComponentsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="StatementOfStockholdersEquityAbstract" xlink:title="StatementOfStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfStockholdersEquityAbstract_lbl">CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:title="label: StatementOfStockholdersEquityAbstract to us-gaap_StatementOfStockholdersEquityAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:label="StockIssuedDuringPeriodValueIssuedForServices" xlink:title="StockIssuedDuringPeriodValueIssuedForServices" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl">Stock granted for services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" xlink:title="label: StockIssuedDuringPeriodValueIssuedForServices to us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="StockIssuedDuringPeriodSharesStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl">Stock option exercises (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xlink:title="label: StockIssuedDuringPeriodSharesStockOptionsExercised to us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl1" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl1">Exercised (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl1" xlink:title="label: StockIssuedDuringPeriodSharesStockOptionsExercised to us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:label="StockIssuedDuringPeriodSharesIssuedForServices" xlink:title="StockIssuedDuringPeriodSharesIssuedForServices" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl">Stock granted for services (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" xlink:title="label: StockIssuedDuringPeriodSharesIssuedForServices to us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:title="StockIssuedDuringPeriodValueStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl">Stock option exercises</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xlink:title="label: StockIssuedDuringPeriodValueStockOptionsExercised to us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl">Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl1">Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_StockholdersEquity_lbl2" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl2">Total shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl2" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl2" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquity_lbl3" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl3">Stockholders' Equity Attributable to Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl3" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="StockholdersEquityAbstract" xlink:title="StockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquityAbstract_lbl">SHAREHOLDERS' EQUITY:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:title="label: StockholdersEquityAbstract to us-gaap_StockholdersEquityAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_StockholdersEquityAbstract_lbl1" xml:lang="en-US" id="us-gaap_StockholdersEquityAbstract_lbl1">SHAREHOLDERS' EQUITY:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl1" xlink:title="label: StockholdersEquityAbstract to us-gaap_StockholdersEquityAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="SupplementalCashFlowElementsAbstract" xlink:title="SupplementalCashFlowElementsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SupplementalCashFlowElementsAbstract_lbl" xml:lang="en-US" id="us-gaap_SupplementalCashFlowElementsAbstract_lbl">SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION AND NON-CASH ACTIVITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SupplementalCashFlowElementsAbstract" xlink:to="us-gaap_SupplementalCashFlowElementsAbstract_lbl" xlink:title="label: SupplementalCashFlowElementsAbstract to us-gaap_SupplementalCashFlowElementsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:title="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xml:lang="en-US" id="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl">Financial Instruments [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xlink:title="label: TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain to us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="TypeOfAdoptionMember" xlink:title="TypeOfAdoptionMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_TypeOfAdoptionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_TypeOfAdoptionMember_lbl" xml:lang="en-US" id="us-gaap_TypeOfAdoptionMember_lbl">Type of Adoption [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypeOfAdoptionMember" xlink:to="us-gaap_TypeOfAdoptionMember_lbl" xlink:title="label: TypeOfAdoptionMember to us-gaap_TypeOfAdoptionMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" xlink:label="UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" xlink:title="UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" />
    <link:label xlink:type="resource" xlink:label="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_lbl" xml:lang="en-US" id="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_lbl">Accrued interest of unrecognized tax benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" xlink:to="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_lbl" xlink:title="label: UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued to us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" xlink:label="UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" xlink:title="UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense_lbl" xml:lang="en-US" id="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense_lbl">Interest expense on unrecognized tax benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" xlink:to="us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense_lbl" xlink:title="label: UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense to us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" xlink:label="UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" xlink:title="UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" />
    <link:label xlink:type="resource" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued_lbl" xml:lang="en-US" id="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued_lbl">Accrued penalties of unrecognized tax benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" xlink:to="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued_lbl" xlink:title="label: UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued to us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="UseOfEstimates" xlink:title="UseOfEstimates" />
    <link:label xlink:type="resource" xlink:label="us-gaap_UseOfEstimates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_UseOfEstimates_lbl" xml:lang="en-US" id="us-gaap_UseOfEstimates_lbl">Use of Estimates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" xlink:title="label: UseOfEstimates to us-gaap_UseOfEstimates_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_USTreasurySecuritiesMember" xlink:label="USTreasurySecuritiesMember" xlink:title="USTreasurySecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_USTreasurySecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_USTreasurySecuritiesMember_lbl" xml:lang="en-US" id="us-gaap_USTreasurySecuritiesMember_lbl">U.S. Treasury Debt Securities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USTreasurySecuritiesMember" xlink:to="us-gaap_USTreasurySecuritiesMember_lbl" xlink:title="label: USTreasurySecuritiesMember to us-gaap_USTreasurySecuritiesMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_USTreasuryAndGovernmentMember" xlink:label="USTreasuryAndGovernmentMember" xlink:title="USTreasuryAndGovernmentMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_USTreasuryAndGovernmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_USTreasuryAndGovernmentMember_lbl" xml:lang="en-US" id="us-gaap_USTreasuryAndGovernmentMember_lbl">US Treasury and Government [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USTreasuryAndGovernmentMember" xlink:to="us-gaap_USTreasuryAndGovernmentMember_lbl" xlink:title="label: USTreasuryAndGovernmentMember to us-gaap_USTreasuryAndGovernmentMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="VariableRateDomain" xlink:title="VariableRateDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_VariableRateDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_VariableRateDomain_lbl" xml:lang="en-US" id="us-gaap_VariableRateDomain_lbl">Variable Rate [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariableRateDomain" xlink:to="us-gaap_VariableRateDomain_lbl" xlink:title="label: VariableRateDomain to us-gaap_VariableRateDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="VariableRateAxis" xlink:title="VariableRateAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_VariableRateAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_VariableRateAxis_lbl" xml:lang="en-US" id="us-gaap_VariableRateAxis_lbl">Variable Rate [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariableRateAxis" xlink:to="us-gaap_VariableRateAxis_lbl" xlink:title="label: VariableRateAxis to us-gaap_VariableRateAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="WeightedAverageNumberOfSharesOutstandingBasic" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl">Basic (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="WeightedAverageNumberOfDilutedSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl">Diluted (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="WeightedAverageNumberOfSharesOutstandingAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl">Weighted average common shares outstanding:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:title="label: WeightedAverageNumberOfSharesOutstandingAbstract to us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="CounterpartyNameAxis" xlink:title="CounterpartyNameAxis" />
    <link:label xlink:type="resource" xlink:label="srt_CounterpartyNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_CounterpartyNameAxis_lbl" xml:lang="en-US" id="srt_CounterpartyNameAxis_lbl">Counterparty Name [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartyNameAxis" xlink:to="srt_CounterpartyNameAxis_lbl" xlink:title="label: CounterpartyNameAxis to srt_CounterpartyNameAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="ConsolidationItemsAxis" xlink:title="ConsolidationItemsAxis" />
    <link:label xlink:type="resource" xlink:label="srt_ConsolidationItemsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ConsolidationItemsAxis_lbl" xml:lang="en-US" id="srt_ConsolidationItemsAxis_lbl">Consolidation Items [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsolidationItemsAxis" xlink:to="srt_ConsolidationItemsAxis_lbl" xlink:title="label: ConsolidationItemsAxis to srt_ConsolidationItemsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="ConsolidationItemsDomain" xlink:title="ConsolidationItemsDomain" />
    <link:label xlink:type="resource" xlink:label="srt_ConsolidationItemsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ConsolidationItemsDomain_lbl" xml:lang="en-US" id="srt_ConsolidationItemsDomain_lbl">Consolidation Items [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsolidationItemsDomain" xlink:to="srt_ConsolidationItemsDomain_lbl" xlink:title="label: ConsolidationItemsDomain to srt_ConsolidationItemsDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionDomain" xlink:label="CumulativeEffectPeriodOfAdoptionDomain" xlink:title="CumulativeEffectPeriodOfAdoptionDomain" />
    <link:label xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_CumulativeEffectPeriodOfAdoptionDomain_lbl" xml:lang="en-US" id="srt_CumulativeEffectPeriodOfAdoptionDomain_lbl">Cumulative Effect, Period of Adoption [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeEffectPeriodOfAdoptionDomain" xlink:to="srt_CumulativeEffectPeriodOfAdoptionDomain_lbl" xlink:title="label: CumulativeEffectPeriodOfAdoptionDomain to srt_CumulativeEffectPeriodOfAdoptionDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionAxis" xlink:label="CumulativeEffectPeriodOfAdoptionAxis" xlink:title="CumulativeEffectPeriodOfAdoptionAxis" />
    <link:label xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_CumulativeEffectPeriodOfAdoptionAxis_lbl" xml:lang="en-US" id="srt_CumulativeEffectPeriodOfAdoptionAxis_lbl">Cumulative Effect, Period of Adoption [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeEffectPeriodOfAdoptionAxis" xlink:to="srt_CumulativeEffectPeriodOfAdoptionAxis_lbl" xlink:title="label: CumulativeEffectPeriodOfAdoptionAxis to srt_CumulativeEffectPeriodOfAdoptionAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:label="CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:title="CumulativeEffectPeriodOfAdoptionAdjustmentMember" />
    <link:label xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember_lbl" xml:lang="en-US" id="srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember_lbl">Cumulative Effect, Period of Adoption, Adjustment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:to="srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember_lbl" xlink:title="label: CumulativeEffectPeriodOfAdoptionAdjustmentMember to srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_GasAndOilAreaUndevelopedNet" xlink:label="GasAndOilAreaUndevelopedNet" xlink:title="GasAndOilAreaUndevelopedNet" />
    <link:label xlink:type="resource" xlink:label="srt_GasAndOilAreaUndevelopedNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="srt_GasAndOilAreaUndevelopedNet_lbl" xml:lang="en-US" id="srt_GasAndOilAreaUndevelopedNet_lbl">Mineral estate area owned (in acres)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasAndOilAreaUndevelopedNet" xlink:to="srt_GasAndOilAreaUndevelopedNet_lbl" xlink:title="label: GasAndOilAreaUndevelopedNet to srt_GasAndOilAreaUndevelopedNet_lbl" />
    <link:label xlink:type="resource" xlink:label="srt_GasAndOilAreaUndevelopedNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_GasAndOilAreaUndevelopedNet_lbl1" xml:lang="en-US" id="srt_GasAndOilAreaUndevelopedNet_lbl1">Oil and Gas, Undeveloped Acreage, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasAndOilAreaUndevelopedNet" xlink:to="srt_GasAndOilAreaUndevelopedNet_lbl1" xlink:title="label: GasAndOilAreaUndevelopedNet to srt_GasAndOilAreaUndevelopedNet_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MajorCustomersAxis" xlink:label="MajorCustomersAxis" xlink:title="MajorCustomersAxis" />
    <link:label xlink:type="resource" xlink:label="srt_MajorCustomersAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_MajorCustomersAxis_lbl" xml:lang="en-US" id="srt_MajorCustomersAxis_lbl">Customer [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorCustomersAxis" xlink:to="srt_MajorCustomersAxis_lbl" xlink:title="label: MajorCustomersAxis to srt_MajorCustomersAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:label xlink:type="resource" xlink:label="srt_MaximumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_MaximumMember_lbl" xml:lang="en-US" id="srt_MaximumMember_lbl">Maximum [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumMember" xlink:to="srt_MaximumMember_lbl" xlink:title="label: MaximumMember to srt_MaximumMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="MinimumMember" xlink:title="MinimumMember" />
    <link:label xlink:type="resource" xlink:label="srt_MinimumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_MinimumMember_lbl" xml:lang="en-US" id="srt_MinimumMember_lbl">Minimum [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumMember" xlink:to="srt_MinimumMember_lbl" xlink:title="label: MinimumMember to srt_MinimumMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_NameOfMajorCustomerDomain" xlink:label="NameOfMajorCustomerDomain" xlink:title="NameOfMajorCustomerDomain" />
    <link:label xlink:type="resource" xlink:label="srt_NameOfMajorCustomerDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_NameOfMajorCustomerDomain_lbl" xml:lang="en-US" id="srt_NameOfMajorCustomerDomain_lbl">Customer [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NameOfMajorCustomerDomain" xlink:to="srt_NameOfMajorCustomerDomain_lbl" xlink:title="label: NameOfMajorCustomerDomain to srt_NameOfMajorCustomerDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:label xlink:type="resource" xlink:label="srt_ProductsAndServicesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ProductsAndServicesDomain_lbl" xml:lang="en-US" id="srt_ProductsAndServicesDomain_lbl">Product and Service [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductsAndServicesDomain" xlink:to="srt_ProductsAndServicesDomain_lbl" xlink:title="label: ProductsAndServicesDomain to srt_ProductsAndServicesDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:label xlink:type="resource" xlink:label="srt_ProductOrServiceAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ProductOrServiceAxis_lbl" xml:lang="en-US" id="srt_ProductOrServiceAxis_lbl">Product and Service [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductOrServiceAxis" xlink:to="srt_ProductOrServiceAxis_lbl" xlink:title="label: ProductOrServiceAxis to srt_ProductOrServiceAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductiveOilWellsNumberOfWellsNet" xlink:label="ProductiveOilWellsNumberOfWellsNet" xlink:title="ProductiveOilWellsNumberOfWellsNet" />
    <link:label xlink:type="resource" xlink:label="srt_ProductiveOilWellsNumberOfWellsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="srt_ProductiveOilWellsNumberOfWellsNet_lbl" xml:lang="en-US" id="srt_ProductiveOilWellsNumberOfWellsNet_lbl">Number of drilling wells</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductiveOilWellsNumberOfWellsNet" xlink:to="srt_ProductiveOilWellsNumberOfWellsNet_lbl" xlink:title="label: ProductiveOilWellsNumberOfWellsNet to srt_ProductiveOilWellsNumberOfWellsNet_lbl" />
    <link:label xlink:type="resource" xlink:label="srt_ProductiveOilWellsNumberOfWellsNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ProductiveOilWellsNumberOfWellsNet_lbl1" xml:lang="en-US" id="srt_ProductiveOilWellsNumberOfWellsNet_lbl1">Oil, Productive Well, Number of Wells, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductiveOilWellsNumberOfWellsNet" xlink:to="srt_ProductiveOilWellsNumberOfWellsNet_lbl1" xlink:title="label: ProductiveOilWellsNumberOfWellsNet to srt_ProductiveOilWellsNumberOfWellsNet_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:label xlink:type="resource" xlink:label="srt_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_RangeAxis_lbl" xml:lang="en-US" id="srt_RangeAxis_lbl">Statistical Measurement [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeAxis" xlink:to="srt_RangeAxis_lbl" xlink:title="label: RangeAxis to srt_RangeAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:label xlink:type="resource" xlink:label="srt_RangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_RangeMember_lbl" xml:lang="en-US" id="srt_RangeMember_lbl">Statistical Measurement [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeMember" xlink:to="srt_RangeMember_lbl" xlink:title="label: RangeMember to srt_RangeMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="RepurchaseAgreementCounterpartyNameDomain" xlink:title="RepurchaseAgreementCounterpartyNameDomain" />
    <link:label xlink:type="resource" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xml:lang="en-US" id="srt_RepurchaseAgreementCounterpartyNameDomain_lbl">Counterparty Name [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreementCounterpartyNameDomain" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xlink:title="label: RepurchaseAgreementCounterpartyNameDomain to srt_RepurchaseAgreementCounterpartyNameDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="ScenarioUnspecifiedDomain" xlink:title="ScenarioUnspecifiedDomain" />
    <link:label xlink:type="resource" xlink:label="srt_ScenarioUnspecifiedDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US" id="srt_ScenarioUnspecifiedDomain_lbl">Scenario [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioUnspecifiedDomain" xlink:to="srt_ScenarioUnspecifiedDomain_lbl" xlink:title="label: ScenarioUnspecifiedDomain to srt_ScenarioUnspecifiedDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="ScenarioForecastMember" xlink:title="ScenarioForecastMember" />
    <link:label xlink:type="resource" xlink:label="srt_ScenarioForecastMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_ScenarioForecastMember_lbl" xml:lang="en-US" id="srt_ScenarioForecastMember_lbl">Forecast [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioForecastMember" xlink:to="srt_ScenarioForecastMember_lbl" xlink:title="label: ScenarioForecastMember to srt_ScenarioForecastMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="StatementScenarioAxis" xlink:title="StatementScenarioAxis" />
    <link:label xlink:type="resource" xlink:label="srt_StatementScenarioAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_StatementScenarioAxis_lbl" xml:lang="en-US" id="srt_StatementScenarioAxis_lbl">Scenario [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementScenarioAxis" xlink:to="srt_StatementScenarioAxis_lbl" xlink:title="label: StatementScenarioAxis to srt_StatementScenarioAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_TitleOfIndividualAxis" xlink:label="TitleOfIndividualAxis" xlink:title="TitleOfIndividualAxis" />
    <link:label xlink:type="resource" xlink:label="srt_TitleOfIndividualAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_TitleOfIndividualAxis_lbl" xml:lang="en-US" id="srt_TitleOfIndividualAxis_lbl">Title of Individual [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TitleOfIndividualAxis" xlink:to="srt_TitleOfIndividualAxis_lbl" xlink:title="label: TitleOfIndividualAxis to srt_TitleOfIndividualAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="TitleOfIndividualWithRelationshipToEntityDomain" xlink:title="TitleOfIndividualWithRelationshipToEntityDomain" />
    <link:label xlink:type="resource" xlink:label="srt_TitleOfIndividualWithRelationshipToEntityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="srt_TitleOfIndividualWithRelationshipToEntityDomain_lbl" xml:lang="en-US" id="srt_TitleOfIndividualWithRelationshipToEntityDomain_lbl">Relationship to Entity [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="srt_TitleOfIndividualWithRelationshipToEntityDomain_lbl" xlink:title="label: TitleOfIndividualWithRelationshipToEntityDomain to srt_TitleOfIndividualWithRelationshipToEntityDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:label="CoverAbstract" xlink:title="CoverAbstract" />
    <link:label xlink:type="resource" xlink:label="dei_CoverAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CoverAbstract_lbl" xml:lang="en-US" id="dei_CoverAbstract_lbl">Cover [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:title="label: CoverAbstract to dei_CoverAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_AmendmentFlag_lbl" xml:lang="en-US" id="dei_AmendmentFlag_lbl">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:title="label: AmendmentFlag to dei_AmendmentFlag_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="CurrentFiscalYearEndDate" xlink:title="CurrentFiscalYearEndDate" />
    <link:label xlink:type="resource" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" id="dei_CurrentFiscalYearEndDate_lbl">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:title="label: CurrentFiscalYearEndDate to dei_CurrentFiscalYearEndDate_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US" id="dei_DocumentPeriodEndDate_lbl">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:title="label: DocumentPeriodEndDate to dei_DocumentPeriodEndDate_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US" id="dei_EntityAddressStateOrProvince_lbl">Entity Address, State or Province</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:title="label: EntityAddressStateOrProvince to dei_EntityAddressStateOrProvince_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="EntityCurrentReportingStatus" xlink:title="EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCurrentReportingStatus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US" id="dei_EntityCurrentReportingStatus_lbl">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:title="label: EntityCurrentReportingStatus to dei_EntityCurrentReportingStatus_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="EntityFilerCategory" xlink:title="EntityFilerCategory" />
    <link:label xlink:type="resource" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityFilerCategory_lbl" xml:lang="en-US" id="dei_EntityFilerCategory_lbl">Entity Filer Category</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:title="label: EntityFilerCategory to dei_EntityFilerCategory_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityRegistrantName_lbl" xml:lang="en-US" id="dei_EntityRegistrantName_lbl">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:title="label: EntityRegistrantName to dei_EntityRegistrantName_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" id="dei_EntityCentralIndexKey_lbl">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:title="label: EntityCentralIndexKey to dei_EntityCentralIndexKey_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US" id="dei_EntityCommonStockSharesOutstanding_lbl">Entity Common Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:title="label: EntityCommonStockSharesOutstanding to dei_EntityCommonStockSharesOutstanding_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US" id="dei_DocumentFiscalYearFocus_lbl">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:title="label: DocumentFiscalYearFocus to dei_DocumentFiscalYearFocus_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US" id="dei_DocumentFiscalPeriodFocus_lbl">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:title="label: DocumentFiscalPeriodFocus to dei_DocumentFiscalPeriodFocus_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentType_lbl" xml:lang="en-US" id="dei_DocumentType_lbl">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentType" xlink:to="dei_DocumentType_lbl" xlink:title="label: DocumentType to dei_DocumentType_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="EntityInteractiveDataCurrent" xlink:title="EntityInteractiveDataCurrent" />
    <link:label xlink:type="resource" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US" id="dei_EntityInteractiveDataCurrent_lbl">Entity Interactive Data Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:title="label: EntityInteractiveDataCurrent to dei_EntityInteractiveDataCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="EntityShellCompany" xlink:title="EntityShellCompany" />
    <link:label xlink:type="resource" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityShellCompany_lbl" xml:lang="en-US" id="dei_EntityShellCompany_lbl">Entity Shell Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:title="label: EntityShellCompany to dei_EntityShellCompany_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany" />
    <link:label xlink:type="resource" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US" id="dei_EntityEmergingGrowthCompany_lbl">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:title="label: EntityEmergingGrowthCompany to dei_EntityEmergingGrowthCompany_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntitySmallBusiness" xlink:label="EntitySmallBusiness" xlink:title="EntitySmallBusiness" />
    <link:label xlink:type="resource" xlink:label="dei_EntitySmallBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntitySmallBusiness_lbl" xml:lang="en-US" id="dei_EntitySmallBusiness_lbl">Entity Small Business</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:title="label: EntitySmallBusiness to dei_EntitySmallBusiness_lbl" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfLiabilities" xlink:label="NumberOfLiabilities" xlink:title="NumberOfLiabilities" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfLiabilities_lbl" xml:lang="en-US" id="pcyo_NumberOfLiabilities_lbl">Number of liabilities available in each level of input.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLiabilities" xlink:to="pcyo_NumberOfLiabilities_lbl" xlink:title="label: NumberOfLiabilities to pcyo_NumberOfLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfLiabilities_lbl1" xml:lang="en-US" id="pcyo_NumberOfLiabilities_lbl1">Number of Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLiabilities" xlink:to="pcyo_NumberOfLiabilities_lbl1" xlink:title="label: NumberOfLiabilities to pcyo_NumberOfLiabilities_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfLiabilities_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfLiabilities_lbl2" xml:lang="en-US" id="pcyo_NumberOfLiabilities_lbl2">Number of liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLiabilities" xlink:to="pcyo_NumberOfLiabilities_lbl2" xlink:title="label: NumberOfLiabilities to pcyo_NumberOfLiabilities_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfAssets" xlink:label="NumberOfAssets" xlink:title="NumberOfAssets" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfAssets_lbl" xml:lang="en-US" id="pcyo_NumberOfAssets_lbl">Number of assets available in each level of input.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssets" xlink:to="pcyo_NumberOfAssets_lbl" xlink:title="label: NumberOfAssets to pcyo_NumberOfAssets_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfAssets_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfAssets_lbl1" xml:lang="en-US" id="pcyo_NumberOfAssets_lbl1">Number of Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssets" xlink:to="pcyo_NumberOfAssets_lbl1" xlink:title="label: NumberOfAssets to pcyo_NumberOfAssets_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfAssets_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfAssets_lbl2" xml:lang="en-US" id="pcyo_NumberOfAssets_lbl2">Number of assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssets" xlink:to="pcyo_NumberOfAssets_lbl2" xlink:title="label: NumberOfAssets to pcyo_NumberOfAssets_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:label="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:title="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl" xml:lang="en-US" id="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl">The percentage of each payment remitted to Comprehensive Amendment Agreement (CAA) holders allocated to the recorded liability account.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:to="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl" xlink:title="label: PercentageOfPaymentAllocatedToRecordedLiabilityAccount to pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl1" xml:lang="en-US" id="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl1">Percentage of Payment Allocated to Recorded Liability Account</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:to="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl1" xlink:title="label: PercentageOfPaymentAllocatedToRecordedLiabilityAccount to pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl2" xml:lang="en-US" id="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl2">Percentage of payment remitted to CAA holders allocated to recorded liability account</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:to="pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl2" xlink:title="label: PercentageOfPaymentAllocatedToRecordedLiabilityAccount to pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyRelinquishment" xlink:label="ContingencyRelinquishment" xlink:title="ContingencyRelinquishment" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyRelinquishment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContingencyRelinquishment_lbl" xml:lang="en-US" id="pcyo_ContingencyRelinquishment_lbl">The change in the contingency through relinquishment during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyRelinquishment" xlink:to="pcyo_ContingencyRelinquishment_lbl" xlink:title="label: ContingencyRelinquishment to pcyo_ContingencyRelinquishment_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyRelinquishment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContingencyRelinquishment_lbl1" xml:lang="en-US" id="pcyo_ContingencyRelinquishment_lbl1">Contingency, Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyRelinquishment" xlink:to="pcyo_ContingencyRelinquishment_lbl1" xlink:title="label: ContingencyRelinquishment to pcyo_ContingencyRelinquishment_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyRelinquishment_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ContingencyRelinquishment_lbl2" xml:lang="en-US" id="pcyo_ContingencyRelinquishment_lbl2">Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyRelinquishment" xlink:to="pcyo_ContingencyRelinquishment_lbl2" xlink:title="label: ContingencyRelinquishment to pcyo_ContingencyRelinquishment_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedOptionPayments" xlink:label="ExportWaterProceedsReceivedOptionPayments" xlink:title="ExportWaterProceedsReceivedOptionPayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl">Export water proceeds received through option payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedOptionPayments" xlink:to="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl" xlink:title="label: ExportWaterProceedsReceivedOptionPayments to pcyo_ExportWaterProceedsReceivedOptionPayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl1" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl1">Export water proceeds received, Option Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedOptionPayments" xlink:to="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl1" xlink:title="label: ExportWaterProceedsReceivedOptionPayments to pcyo_ExportWaterProceedsReceivedOptionPayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl2" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl2">Option payments - Sky Ranch and The Hills at Sky Ranch</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedOptionPayments" xlink:to="pcyo_ExportWaterProceedsReceivedOptionPayments_lbl2" xlink:title="label: ExportWaterProceedsReceivedOptionPayments to pcyo_ExportWaterProceedsReceivedOptionPayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedAcquisitions" xlink:label="ExportWaterProceedsReceivedAcquisitions" xlink:title="ExportWaterProceedsReceivedAcquisitions" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl">Export water proceeds received through acquisitions during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedAcquisitions" xlink:to="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl" xlink:title="label: ExportWaterProceedsReceivedAcquisitions to pcyo_ExportWaterProceedsReceivedAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl1" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl1">Export water proceeds received, Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedAcquisitions" xlink:to="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl1" xlink:title="label: ExportWaterProceedsReceivedAcquisitions to pcyo_ExportWaterProceedsReceivedAcquisitions_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl2" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl2">Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedAcquisitions" xlink:to="pcyo_ExportWaterProceedsReceivedAcquisitions_lbl2" xlink:title="label: ExportWaterProceedsReceivedAcquisitions to pcyo_ExportWaterProceedsReceivedAcquisitions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SouthMetroWiseAuthorityMember" xlink:label="SouthMetroWiseAuthorityMember" xlink:title="SouthMetroWiseAuthorityMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_SouthMetroWiseAuthorityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_SouthMetroWiseAuthorityMember_lbl" xml:lang="en-US" id="pcyo_SouthMetroWiseAuthorityMember_lbl">Formed by Rangeview and nine other governmental or quasi-governmental water providers pursuant to the South Metro WISE Authority Formation and Organizational Intergovernmental Agreement, dated December 31, 2013 (the "SM IGA"), to enable the members of SMWA to participate in the regional water supply project known as the Water Infrastructure Supply Efficiency partnership ("WISE") created by the WISE Partnership Agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SouthMetroWiseAuthorityMember" xlink:to="pcyo_SouthMetroWiseAuthorityMember_lbl" xlink:title="label: SouthMetroWiseAuthorityMember to pcyo_SouthMetroWiseAuthorityMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_SouthMetroWiseAuthorityMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_SouthMetroWiseAuthorityMember_lbl1" xml:lang="en-US" id="pcyo_SouthMetroWiseAuthorityMember_lbl1">South Metro Wise Authority [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SouthMetroWiseAuthorityMember" xlink:to="pcyo_SouthMetroWiseAuthorityMember_lbl1" xlink:title="label: SouthMetroWiseAuthorityMember to pcyo_SouthMetroWiseAuthorityMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_SouthMetroWiseAuthorityMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_SouthMetroWiseAuthorityMember_lbl2" xml:lang="en-US" id="pcyo_SouthMetroWiseAuthorityMember_lbl2">SMWA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SouthMetroWiseAuthorityMember" xlink:to="pcyo_SouthMetroWiseAuthorityMember_lbl2" xlink:title="label: SouthMetroWiseAuthorityMember to pcyo_SouthMetroWiseAuthorityMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityAcquisitions" xlink:label="ParticipatingInterestsLiabilityAcquisitions" xlink:title="ParticipatingInterestsLiabilityAcquisitions" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl">Participating interests liability through acquisitions during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityAcquisitions" xlink:to="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl" xlink:title="label: ParticipatingInterestsLiabilityAcquisitions to pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl1" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl1">Participating Interests Liability, Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityAcquisitions" xlink:to="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl1" xlink:title="label: ParticipatingInterestsLiabilityAcquisitions to pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl2" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl2">Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityAcquisitions" xlink:to="pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl2" xlink:title="label: ParticipatingInterestsLiabilityAcquisitions to pcyo_ParticipatingInterestsLiabilityAcquisitions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:label="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:title="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl" xml:lang="en-US" id="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl">The number of other governmental or quasi-governmental water providers member in SMWA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:to="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl" xlink:title="label: NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders to pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl1" xml:lang="en-US" id="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl1">Number of Other Governmental and Quasi-governmental Water Providers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:to="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl1" xlink:title="label: NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders to pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl2" xml:lang="en-US" id="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl2">Number of other governmental or quasi-governmental water providers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:to="pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl2" xlink:title="label: NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders to pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsRelinquishment" xlink:label="InitialExportWaterProceedsRelinquishment" xlink:title="InitialExportWaterProceedsRelinquishment" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsRelinquishment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InitialExportWaterProceedsRelinquishment_lbl" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsRelinquishment_lbl">Total proceeds from the sale of export water after payment of the Land Board royalty allocated through relinquishment during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsRelinquishment" xlink:to="pcyo_InitialExportWaterProceedsRelinquishment_lbl" xlink:title="label: InitialExportWaterProceedsRelinquishment to pcyo_InitialExportWaterProceedsRelinquishment_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsRelinquishment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InitialExportWaterProceedsRelinquishment_lbl1" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsRelinquishment_lbl1">Initial Export Water Proceeds, Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsRelinquishment" xlink:to="pcyo_InitialExportWaterProceedsRelinquishment_lbl1" xlink:title="label: InitialExportWaterProceedsRelinquishment to pcyo_InitialExportWaterProceedsRelinquishment_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsRelinquishment_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_InitialExportWaterProceedsRelinquishment_lbl2" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsRelinquishment_lbl2">Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsRelinquishment" xlink:to="pcyo_InitialExportWaterProceedsRelinquishment_lbl2" xlink:title="label: InitialExportWaterProceedsRelinquishment to pcyo_InitialExportWaterProceedsRelinquishment_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsOptionPayments" xlink:label="InitialExportWaterProceedsOptionPayments" xlink:title="InitialExportWaterProceedsOptionPayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsOptionPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InitialExportWaterProceedsOptionPayments_lbl" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsOptionPayments_lbl">Total proceeds from the sale of export water after payment of the Land Board royalty allocated through option payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsOptionPayments" xlink:to="pcyo_InitialExportWaterProceedsOptionPayments_lbl" xlink:title="label: InitialExportWaterProceedsOptionPayments to pcyo_InitialExportWaterProceedsOptionPayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsOptionPayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InitialExportWaterProceedsOptionPayments_lbl1" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsOptionPayments_lbl1">Initial Export Water Proceeds, Option payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsOptionPayments" xlink:to="pcyo_InitialExportWaterProceedsOptionPayments_lbl1" xlink:title="label: InitialExportWaterProceedsOptionPayments to pcyo_InitialExportWaterProceedsOptionPayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsOptionPayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_InitialExportWaterProceedsOptionPayments_lbl2" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsOptionPayments_lbl2">Option payments - Sky Ranch and The Hills at Sky Ranch</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsOptionPayments" xlink:to="pcyo_InitialExportWaterProceedsOptionPayments_lbl2" xlink:title="label: InitialExportWaterProceedsOptionPayments to pcyo_InitialExportWaterProceedsOptionPayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfMembersToDeliverWater" xlink:label="NumberOfMembersToDeliverWater" xlink:title="NumberOfMembersToDeliverWater" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfMembersToDeliverWater_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfMembersToDeliverWater_lbl" xml:lang="en-US" id="pcyo_NumberOfMembersToDeliverWater_lbl">The number of members to deliver water of the SMWA, Denver Water and Aurora Water.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMembersToDeliverWater" xlink:to="pcyo_NumberOfMembersToDeliverWater_lbl" xlink:title="label: NumberOfMembersToDeliverWater to pcyo_NumberOfMembersToDeliverWater_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfMembersToDeliverWater_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfMembersToDeliverWater_lbl1" xml:lang="en-US" id="pcyo_NumberOfMembersToDeliverWater_lbl1">Number of Members to Deliver Water</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMembersToDeliverWater" xlink:to="pcyo_NumberOfMembersToDeliverWater_lbl1" xlink:title="label: NumberOfMembersToDeliverWater to pcyo_NumberOfMembersToDeliverWater_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfMembersToDeliverWater_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfMembersToDeliverWater_lbl2" xml:lang="en-US" id="pcyo_NumberOfMembersToDeliverWater_lbl2">Number of members</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMembersToDeliverWater" xlink:to="pcyo_NumberOfMembersToDeliverWater_lbl2" xlink:title="label: NumberOfMembersToDeliverWater to pcyo_NumberOfMembersToDeliverWater_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedTapFees" xlink:label="ExportWaterProceedsReceivedTapFees" xlink:title="ExportWaterProceedsReceivedTapFees" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedTapFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExportWaterProceedsReceivedTapFees_lbl" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedTapFees_lbl">Export water proceeds received through tap fees during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedTapFees" xlink:to="pcyo_ExportWaterProceedsReceivedTapFees_lbl" xlink:title="label: ExportWaterProceedsReceivedTapFees to pcyo_ExportWaterProceedsReceivedTapFees_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedTapFees_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterProceedsReceivedTapFees_lbl1" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedTapFees_lbl1">Export water proceeds received, Tap Fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedTapFees" xlink:to="pcyo_ExportWaterProceedsReceivedTapFees_lbl1" xlink:title="label: ExportWaterProceedsReceivedTapFees to pcyo_ExportWaterProceedsReceivedTapFees_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedTapFees_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExportWaterProceedsReceivedTapFees_lbl2" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedTapFees_lbl2">Arapahoe County tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedTapFees" xlink:to="pcyo_ExportWaterProceedsReceivedTapFees_lbl2" xlink:title="label: ExportWaterProceedsReceivedTapFees to pcyo_ExportWaterProceedsReceivedTapFees_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedRelinquishment" xlink:label="ExportWaterProceedsReceivedRelinquishment" xlink:title="ExportWaterProceedsReceivedRelinquishment" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl">Export water proceeds received through relinquishment during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedRelinquishment" xlink:to="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl" xlink:title="label: ExportWaterProceedsReceivedRelinquishment to pcyo_ExportWaterProceedsReceivedRelinquishment_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl1" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl1">Export water proceeds received, Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedRelinquishment" xlink:to="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl1" xlink:title="label: ExportWaterProceedsReceivedRelinquishment to pcyo_ExportWaterProceedsReceivedRelinquishment_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl2" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl2">Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedRelinquishment" xlink:to="pcyo_ExportWaterProceedsReceivedRelinquishment_lbl2" xlink:title="label: ExportWaterProceedsReceivedRelinquishment to pcyo_ExportWaterProceedsReceivedRelinquishment_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedSalePayments" xlink:label="ExportWaterProceedsReceivedSalePayments" xlink:title="ExportWaterProceedsReceivedSalePayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedSalePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExportWaterProceedsReceivedSalePayments_lbl" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedSalePayments_lbl">Export water proceeds received through export water sale payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedSalePayments" xlink:to="pcyo_ExportWaterProceedsReceivedSalePayments_lbl" xlink:title="label: ExportWaterProceedsReceivedSalePayments to pcyo_ExportWaterProceedsReceivedSalePayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedSalePayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterProceedsReceivedSalePayments_lbl1" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedSalePayments_lbl1">Export water proceeds received, Sale Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedSalePayments" xlink:to="pcyo_ExportWaterProceedsReceivedSalePayments_lbl1" xlink:title="label: ExportWaterProceedsReceivedSalePayments to pcyo_ExportWaterProceedsReceivedSalePayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedSalePayments_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExportWaterProceedsReceivedSalePayments_lbl2" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedSalePayments_lbl2">Export water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedSalePayments" xlink:to="pcyo_ExportWaterProceedsReceivedSalePayments_lbl2" xlink:title="label: ExportWaterProceedsReceivedSalePayments to pcyo_ExportWaterProceedsReceivedSalePayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedBalances" xlink:label="ExportWaterProceedsReceivedBalances" xlink:title="ExportWaterProceedsReceivedBalances" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedBalances_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExportWaterProceedsReceivedBalances_lbl" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedBalances_lbl">Export water proceeds received as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedBalances" xlink:to="pcyo_ExportWaterProceedsReceivedBalances_lbl" xlink:title="label: ExportWaterProceedsReceivedBalances to pcyo_ExportWaterProceedsReceivedBalances_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedBalances_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterProceedsReceivedBalances_lbl1" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedBalances_lbl1">Export water proceeds received, Balances</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedBalances" xlink:to="pcyo_ExportWaterProceedsReceivedBalances_lbl1" xlink:title="label: ExportWaterProceedsReceivedBalances to pcyo_ExportWaterProceedsReceivedBalances_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedBalances_lbl2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="pcyo_ExportWaterProceedsReceivedBalances_lbl2" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedBalances_lbl2">Balance at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedBalances" xlink:to="pcyo_ExportWaterProceedsReceivedBalances_lbl2" xlink:title="label: ExportWaterProceedsReceivedBalances to pcyo_ExportWaterProceedsReceivedBalances_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedBalances_lbl3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="pcyo_ExportWaterProceedsReceivedBalances_lbl3" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedBalances_lbl3">Balance at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedBalances" xlink:to="pcyo_ExportWaterProceedsReceivedBalances_lbl3" xlink:title="label: ExportWaterProceedsReceivedBalances to pcyo_ExportWaterProceedsReceivedBalances_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedRollForward" xlink:label="ExportWaterProceedsReceivedRollForward" xlink:title="ExportWaterProceedsReceivedRollForward" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExportWaterProceedsReceivedRollForward_lbl" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedRollForward_lbl">A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="pcyo_ExportWaterProceedsReceivedRollForward_lbl" xlink:title="label: ExportWaterProceedsReceivedRollForward to pcyo_ExportWaterProceedsReceivedRollForward_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterProceedsReceivedRollForward_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterProceedsReceivedRollForward_lbl1" xml:lang="en-US" id="pcyo_ExportWaterProceedsReceivedRollForward_lbl1">Export Water Proceeds Received [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="pcyo_ExportWaterProceedsReceivedRollForward_lbl1" xlink:title="label: ExportWaterProceedsReceivedRollForward to pcyo_ExportWaterProceedsReceivedRollForward_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationOptionPayments" xlink:label="PotentialThirdPartyObligationOptionPayments" xlink:title="PotentialThirdPartyObligationOptionPayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationOptionPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PotentialThirdPartyObligationOptionPayments_lbl" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationOptionPayments_lbl">Total potential third-party obligation through option payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationOptionPayments" xlink:to="pcyo_PotentialThirdPartyObligationOptionPayments_lbl" xlink:title="label: PotentialThirdPartyObligationOptionPayments to pcyo_PotentialThirdPartyObligationOptionPayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationOptionPayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PotentialThirdPartyObligationOptionPayments_lbl1" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationOptionPayments_lbl1">Potential Third-Party Obligation, Option payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationOptionPayments" xlink:to="pcyo_PotentialThirdPartyObligationOptionPayments_lbl1" xlink:title="label: PotentialThirdPartyObligationOptionPayments to pcyo_PotentialThirdPartyObligationOptionPayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationOptionPayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_PotentialThirdPartyObligationOptionPayments_lbl2" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationOptionPayments_lbl2">Option payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationOptionPayments" xlink:to="pcyo_PotentialThirdPartyObligationOptionPayments_lbl2" xlink:title="label: PotentialThirdPartyObligationOptionPayments to pcyo_PotentialThirdPartyObligationOptionPayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:label="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:title="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl" xml:lang="en-US" id="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl">The percentage of net proceeds of export water allocated after payment of land board royalty.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:to="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl" xlink:title="label: PercentageOfNetProceedsFromSaleOfExportWaterAllocated to pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl1" xml:lang="en-US" id="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl1">Percentage of Net Proceeds from Sale of Export Water Allocated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:to="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl1" xlink:title="label: PercentageOfNetProceedsFromSaleOfExportWaterAllocated to pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl2" xml:lang="en-US" id="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl2">Percentage of net proceeds from sale of export water allocated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:to="pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl2" xlink:title="label: PercentageOfNetProceedsFromSaleOfExportWaterAllocated to pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedFutureExportWaterPayouts" xlink:label="ExpectedFutureExportWaterPayouts" xlink:title="ExpectedFutureExportWaterPayouts" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedFutureExportWaterPayouts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExpectedFutureExportWaterPayouts_lbl" xml:lang="en-US" id="pcyo_ExpectedFutureExportWaterPayouts_lbl">The amount of expected future export water payouts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedFutureExportWaterPayouts" xlink:to="pcyo_ExpectedFutureExportWaterPayouts_lbl" xlink:title="label: ExpectedFutureExportWaterPayouts to pcyo_ExpectedFutureExportWaterPayouts_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedFutureExportWaterPayouts_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExpectedFutureExportWaterPayouts_lbl1" xml:lang="en-US" id="pcyo_ExpectedFutureExportWaterPayouts_lbl1">Expected future export water payouts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedFutureExportWaterPayouts" xlink:to="pcyo_ExpectedFutureExportWaterPayouts_lbl1" xlink:title="label: ExpectedFutureExportWaterPayouts to pcyo_ExpectedFutureExportWaterPayouts_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedFutureExportWaterPayouts_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExpectedFutureExportWaterPayouts_lbl2" xml:lang="en-US" id="pcyo_ExpectedFutureExportWaterPayouts_lbl2">Expected future export water payouts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedFutureExportWaterPayouts" xlink:to="pcyo_ExpectedFutureExportWaterPayouts_lbl2" xlink:title="label: ExpectedFutureExportWaterPayouts to pcyo_ExpectedFutureExportWaterPayouts_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:label="ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:title="ExpectedFutureRevenueReceivableFromSaleOfExportWater" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl" xml:lang="en-US" id="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl">The expected amount of revenue receivable from the sale of export water.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:to="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl" xlink:title="label: ExpectedFutureRevenueReceivableFromSaleOfExportWater to pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl1" xml:lang="en-US" id="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl1">Expected future Revenue Receivable from Sale of Export Water</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:to="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl1" xlink:title="label: ExpectedFutureRevenueReceivableFromSaleOfExportWater to pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl2" xml:lang="en-US" id="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl2">Revenue receivables from sale of export water</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:to="pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl2" xlink:title="label: ExpectedFutureRevenueReceivableFromSaleOfExportWater to pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:label="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:title="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl" xml:lang="en-US" id="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl">The amount of expected proceeds from sale of export water after deduction of Land Board Royalty.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:to="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl" xlink:title="label: ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty to pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl1" xml:lang="en-US" id="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl1">Expected Proceeds from Sale of Export Water after Deduction of Royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:to="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl1" xlink:title="label: ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty to pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl2" xml:lang="en-US" id="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl2">Expected proceeds from sale of export water after deduction of Land Board royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:to="pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl2" xlink:title="label: ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty to pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterAbstract" xlink:label="ExportWaterAbstract" xlink:title="ExportWaterAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExportWaterAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExportWaterAbstract_lbl1" xml:lang="en-US" id="pcyo_ExportWaterAbstract_lbl1">Export Water [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportWaterAbstract" xlink:to="pcyo_ExportWaterAbstract_lbl1" xlink:title="label: ExportWaterAbstract to pcyo_ExportWaterAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationTapFees" xlink:label="PotentialThirdPartyObligationTapFees" xlink:title="PotentialThirdPartyObligationTapFees" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationTapFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PotentialThirdPartyObligationTapFees_lbl" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationTapFees_lbl">Total potential third-party obligation through tap fees during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationTapFees" xlink:to="pcyo_PotentialThirdPartyObligationTapFees_lbl" xlink:title="label: PotentialThirdPartyObligationTapFees to pcyo_PotentialThirdPartyObligationTapFees_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationTapFees_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PotentialThirdPartyObligationTapFees_lbl1" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationTapFees_lbl1">Potential Third-Party Obligation, Tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationTapFees" xlink:to="pcyo_PotentialThirdPartyObligationTapFees_lbl1" xlink:title="label: PotentialThirdPartyObligationTapFees to pcyo_PotentialThirdPartyObligationTapFees_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationTapFees_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_PotentialThirdPartyObligationTapFees_lbl2" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationTapFees_lbl2">Arapahoe County tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationTapFees" xlink:to="pcyo_PotentialThirdPartyObligationTapFees_lbl2" xlink:title="label: PotentialThirdPartyObligationTapFees to pcyo_PotentialThirdPartyObligationTapFees_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAbstract" xlink:label="PartnershipAbstract" xlink:title="PartnershipAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_PartnershipAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PartnershipAbstract_lbl1" xml:lang="en-US" id="pcyo_PartnershipAbstract_lbl1">Partnership [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipAbstract" xlink:to="pcyo_PartnershipAbstract_lbl1" xlink:title="label: PartnershipAbstract to pcyo_PartnershipAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PartnershipAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PartnershipAbstract_lbl2" xml:lang="en-US" id="pcyo_PartnershipAbstract_lbl2">WISE Partnership [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipAbstract" xlink:to="pcyo_PartnershipAbstract_lbl2" xlink:title="label: PartnershipAbstract to pcyo_PartnershipAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAgreementLineItems" xlink:label="PartnershipAgreementLineItems" xlink:title="PartnershipAgreementLineItems" />
    <link:label xlink:type="resource" xlink:label="pcyo_PartnershipAgreementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PartnershipAgreementLineItems_lbl" xml:lang="en-US" id="pcyo_PartnershipAgreementLineItems_lbl">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipAgreementLineItems" xlink:to="pcyo_PartnershipAgreementLineItems_lbl" xlink:title="label: PartnershipAgreementLineItems to pcyo_PartnershipAgreementLineItems_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PartnershipAgreementLineItems_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PartnershipAgreementLineItems_lbl1" xml:lang="en-US" id="pcyo_PartnershipAgreementLineItems_lbl1">Partnership Agreement [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipAgreementLineItems" xlink:to="pcyo_PartnershipAgreementLineItems_lbl1" xlink:title="label: PartnershipAgreementLineItems to pcyo_PartnershipAgreementLineItems_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsAcquisitions" xlink:label="InitialExportWaterProceedsAcquisitions" xlink:title="InitialExportWaterProceedsAcquisitions" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InitialExportWaterProceedsAcquisitions_lbl" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsAcquisitions_lbl">Total proceeds from the sale of export water after payment of the Land Board royalty allocated through acquisitions during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsAcquisitions" xlink:to="pcyo_InitialExportWaterProceedsAcquisitions_lbl" xlink:title="label: InitialExportWaterProceedsAcquisitions to pcyo_InitialExportWaterProceedsAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InitialExportWaterProceedsAcquisitions_lbl1" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsAcquisitions_lbl1">Initial Export Water Proceeds, Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsAcquisitions" xlink:to="pcyo_InitialExportWaterProceedsAcquisitions_lbl1" xlink:title="label: InitialExportWaterProceedsAcquisitions to pcyo_InitialExportWaterProceedsAcquisitions_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_InitialExportWaterProceedsAcquisitions_lbl2" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsAcquisitions_lbl2">Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsAcquisitions" xlink:to="pcyo_InitialExportWaterProceedsAcquisitions_lbl2" xlink:title="label: InitialExportWaterProceedsAcquisitions to pcyo_InitialExportWaterProceedsAcquisitions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyOptionPayments" xlink:label="ContingencyOptionPayments" xlink:title="ContingencyOptionPayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyOptionPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContingencyOptionPayments_lbl" xml:lang="en-US" id="pcyo_ContingencyOptionPayments_lbl">The change in the contingency through option payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyOptionPayments" xlink:to="pcyo_ContingencyOptionPayments_lbl" xlink:title="label: ContingencyOptionPayments to pcyo_ContingencyOptionPayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyOptionPayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContingencyOptionPayments_lbl1" xml:lang="en-US" id="pcyo_ContingencyOptionPayments_lbl1">Contingency, Option payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyOptionPayments" xlink:to="pcyo_ContingencyOptionPayments_lbl1" xlink:title="label: ContingencyOptionPayments to pcyo_ContingencyOptionPayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyOptionPayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ContingencyOptionPayments_lbl2" xml:lang="en-US" id="pcyo_ContingencyOptionPayments_lbl2">Option payments - Sky Ranch and The Hills at Sky Ranch</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyOptionPayments" xlink:to="pcyo_ContingencyOptionPayments_lbl2" xlink:title="label: ContingencyOptionPayments to pcyo_ContingencyOptionPayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationRelinquishment" xlink:label="PotentialThirdPartyObligationRelinquishment" xlink:title="PotentialThirdPartyObligationRelinquishment" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationRelinquishment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PotentialThirdPartyObligationRelinquishment_lbl" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationRelinquishment_lbl">Total potential third-party obligation through relinquishment during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationRelinquishment" xlink:to="pcyo_PotentialThirdPartyObligationRelinquishment_lbl" xlink:title="label: PotentialThirdPartyObligationRelinquishment to pcyo_PotentialThirdPartyObligationRelinquishment_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationRelinquishment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PotentialThirdPartyObligationRelinquishment_lbl1" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationRelinquishment_lbl1">Potential Third-Party Obligation, Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationRelinquishment" xlink:to="pcyo_PotentialThirdPartyObligationRelinquishment_lbl1" xlink:title="label: PotentialThirdPartyObligationRelinquishment to pcyo_PotentialThirdPartyObligationRelinquishment_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationRelinquishment_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_PotentialThirdPartyObligationRelinquishment_lbl2" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationRelinquishment_lbl2">Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationRelinquishment" xlink:to="pcyo_PotentialThirdPartyObligationRelinquishment_lbl2" xlink:title="label: PotentialThirdPartyObligationRelinquishment to pcyo_PotentialThirdPartyObligationRelinquishment_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityTapFees" xlink:label="ParticipatingInterestsLiabilityTapFees" xlink:title="ParticipatingInterestsLiabilityTapFees" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityTapFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ParticipatingInterestsLiabilityTapFees_lbl" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityTapFees_lbl">Participating interests liability through tap fees during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityTapFees" xlink:to="pcyo_ParticipatingInterestsLiabilityTapFees_lbl" xlink:title="label: ParticipatingInterestsLiabilityTapFees to pcyo_ParticipatingInterestsLiabilityTapFees_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityTapFees_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ParticipatingInterestsLiabilityTapFees_lbl1" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityTapFees_lbl1">Participating Interests Liability, Tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityTapFees" xlink:to="pcyo_ParticipatingInterestsLiabilityTapFees_lbl1" xlink:title="label: ParticipatingInterestsLiabilityTapFees to pcyo_ParticipatingInterestsLiabilityTapFees_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityTapFees_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ParticipatingInterestsLiabilityTapFees_lbl2" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityTapFees_lbl2">Arapahoe County tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityTapFees" xlink:to="pcyo_ParticipatingInterestsLiabilityTapFees_lbl2" xlink:title="label: ParticipatingInterestsLiabilityTapFees to pcyo_ParticipatingInterestsLiabilityTapFees_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityRelinquishment" xlink:label="ParticipatingInterestsLiabilityRelinquishment" xlink:title="ParticipatingInterestsLiabilityRelinquishment" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl">Participating interests liability through relinquishment during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityRelinquishment" xlink:to="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl" xlink:title="label: ParticipatingInterestsLiabilityRelinquishment to pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl1" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl1">Participating Interests Liability, Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityRelinquishment" xlink:to="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl1" xlink:title="label: ParticipatingInterestsLiabilityRelinquishment to pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl2" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl2">Relinquishment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityRelinquishment" xlink:to="pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl2" xlink:title="label: ParticipatingInterestsLiabilityRelinquishment to pcyo_ParticipatingInterestsLiabilityRelinquishment_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:label="ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:title="ParticipatingInterestsLiabilityExportWaterSalePayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl">Participating interests liability through export water sale payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:to="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl" xlink:title="label: ParticipatingInterestsLiabilityExportWaterSalePayments to pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl1" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl1">Participating Interests Liability, Export Water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:to="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl1" xlink:title="label: ParticipatingInterestsLiabilityExportWaterSalePayments to pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl2" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl2">Export water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:to="pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl2" xlink:title="label: ParticipatingInterestsLiabilityExportWaterSalePayments to pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityOptionPayments" xlink:label="ParticipatingInterestsLiabilityOptionPayments" xlink:title="ParticipatingInterestsLiabilityOptionPayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl">Participating interests liability through option payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityOptionPayments" xlink:to="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl" xlink:title="label: ParticipatingInterestsLiabilityOptionPayments to pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl1" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl1">Participating Interests Liability, Option payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityOptionPayments" xlink:to="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl1" xlink:title="label: ParticipatingInterestsLiabilityOptionPayments to pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl2" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl2">Option payments - Sky Ranch and The Hills at Sky Ranch</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityOptionPayments" xlink:to="pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl2" xlink:title="label: ParticipatingInterestsLiabilityOptionPayments to pcyo_ParticipatingInterestsLiabilityOptionPayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityRollForward" xlink:label="ParticipatingInterestsLiabilityRollForward" xlink:title="ParticipatingInterestsLiabilityRollForward" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ParticipatingInterestsLiabilityRollForward_lbl" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityRollForward_lbl">A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="pcyo_ParticipatingInterestsLiabilityRollForward_lbl" xlink:title="label: ParticipatingInterestsLiabilityRollForward to pcyo_ParticipatingInterestsLiabilityRollForward_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiabilityRollForward_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ParticipatingInterestsLiabilityRollForward_lbl1" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiabilityRollForward_lbl1">Participating Interests Liability [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="pcyo_ParticipatingInterestsLiabilityRollForward_lbl1" xlink:title="label: ParticipatingInterestsLiabilityRollForward to pcyo_ParticipatingInterestsLiabilityRollForward_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyExportWaterSalePayments" xlink:label="ContingencyExportWaterSalePayments" xlink:title="ContingencyExportWaterSalePayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyExportWaterSalePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContingencyExportWaterSalePayments_lbl" xml:lang="en-US" id="pcyo_ContingencyExportWaterSalePayments_lbl">The change in the contingency through export water sale payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyExportWaterSalePayments" xlink:to="pcyo_ContingencyExportWaterSalePayments_lbl" xlink:title="label: ContingencyExportWaterSalePayments to pcyo_ContingencyExportWaterSalePayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyExportWaterSalePayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContingencyExportWaterSalePayments_lbl1" xml:lang="en-US" id="pcyo_ContingencyExportWaterSalePayments_lbl1">Contingency, Export Water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyExportWaterSalePayments" xlink:to="pcyo_ContingencyExportWaterSalePayments_lbl1" xlink:title="label: ContingencyExportWaterSalePayments to pcyo_ContingencyExportWaterSalePayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyExportWaterSalePayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ContingencyExportWaterSalePayments_lbl2" xml:lang="en-US" id="pcyo_ContingencyExportWaterSalePayments_lbl2">Export water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyExportWaterSalePayments" xlink:to="pcyo_ContingencyExportWaterSalePayments_lbl2" xlink:title="label: ContingencyExportWaterSalePayments to pcyo_ContingencyExportWaterSalePayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsTapFee" xlink:label="InitialExportWaterProceedsTapFee" xlink:title="InitialExportWaterProceedsTapFee" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsTapFee_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InitialExportWaterProceedsTapFee_lbl" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsTapFee_lbl">Total proceeds from the sale of export water after payment of the Land Board royalty allocated through tap fees during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsTapFee" xlink:to="pcyo_InitialExportWaterProceedsTapFee_lbl" xlink:title="label: InitialExportWaterProceedsTapFee to pcyo_InitialExportWaterProceedsTapFee_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsTapFee_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InitialExportWaterProceedsTapFee_lbl1" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsTapFee_lbl1">Initial Export Water Proceeds, Tap fee</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsTapFee" xlink:to="pcyo_InitialExportWaterProceedsTapFee_lbl1" xlink:title="label: InitialExportWaterProceedsTapFee to pcyo_InitialExportWaterProceedsTapFee_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsTapFee_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_InitialExportWaterProceedsTapFee_lbl2" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsTapFee_lbl2">Arapahoe County tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsTapFee" xlink:to="pcyo_InitialExportWaterProceedsTapFee_lbl2" xlink:title="label: InitialExportWaterProceedsTapFee to pcyo_InitialExportWaterProceedsTapFee_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:label="PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:title="PercentageOfPaymentRemittedToAllocatedToContingentObligation" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl" xml:lang="en-US" id="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl">The percentage of each payment remitted to Comprehensive Amendment Agreement (CAA) holders allocated to the contingent obligation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:to="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl" xlink:title="label: PercentageOfPaymentRemittedToAllocatedToContingentObligation to pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl1" xml:lang="en-US" id="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl1">Percentage of Payment Remitted to Allocated to Contingent Obligation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:to="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl1" xlink:title="label: PercentageOfPaymentRemittedToAllocatedToContingentObligation to pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl2" xml:lang="en-US" id="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl2">Percentage of payment remitted to CAA holders allocated to contingent obligation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:to="pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl2" xlink:title="label: PercentageOfPaymentRemittedToAllocatedToContingentObligation to pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyTapFees" xlink:label="ContingencyTapFees" xlink:title="ContingencyTapFees" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyTapFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContingencyTapFees_lbl" xml:lang="en-US" id="pcyo_ContingencyTapFees_lbl">The change in the contingency through tap fees during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyTapFees" xlink:to="pcyo_ContingencyTapFees_lbl" xlink:title="label: ContingencyTapFees to pcyo_ContingencyTapFees_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyTapFees_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContingencyTapFees_lbl1" xml:lang="en-US" id="pcyo_ContingencyTapFees_lbl1">Contingency, Tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyTapFees" xlink:to="pcyo_ContingencyTapFees_lbl1" xlink:title="label: ContingencyTapFees to pcyo_ContingencyTapFees_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyTapFees_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ContingencyTapFees_lbl2" xml:lang="en-US" id="pcyo_ContingencyTapFees_lbl2">Arapahoe County tap fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyTapFees" xlink:to="pcyo_ContingencyTapFees_lbl2" xlink:title="label: ContingencyTapFees to pcyo_ContingencyTapFees_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyAcquisitions" xlink:label="ContingencyAcquisitions" xlink:title="ContingencyAcquisitions" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContingencyAcquisitions_lbl" xml:lang="en-US" id="pcyo_ContingencyAcquisitions_lbl">The change in the contingency through acquisitions during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyAcquisitions" xlink:to="pcyo_ContingencyAcquisitions_lbl" xlink:title="label: ContingencyAcquisitions to pcyo_ContingencyAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContingencyAcquisitions_lbl1" xml:lang="en-US" id="pcyo_ContingencyAcquisitions_lbl1">Contingency, Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyAcquisitions" xlink:to="pcyo_ContingencyAcquisitions_lbl1" xlink:title="label: ContingencyAcquisitions to pcyo_ContingencyAcquisitions_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_ContingencyAcquisitions_lbl2" xml:lang="en-US" id="pcyo_ContingencyAcquisitions_lbl2">Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyAcquisitions" xlink:to="pcyo_ContingencyAcquisitions_lbl2" xlink:title="label: ContingencyAcquisitions to pcyo_ContingencyAcquisitions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyRollForward" xlink:label="ContingencyRollForward" xlink:title="ContingencyRollForward" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContingencyRollForward_lbl" xml:lang="en-US" id="pcyo_ContingencyRollForward_lbl">A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyRollForward" xlink:to="pcyo_ContingencyRollForward_lbl" xlink:title="label: ContingencyRollForward to pcyo_ContingencyRollForward_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContingencyRollForward_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContingencyRollForward_lbl1" xml:lang="en-US" id="pcyo_ContingencyRollForward_lbl1">Contingency [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingencyRollForward" xlink:to="pcyo_ContingencyRollForward_lbl1" xlink:title="label: ContingencyRollForward to pcyo_ContingencyRollForward_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationBalances" xlink:label="PotentialThirdPartyObligationBalances" xlink:title="PotentialThirdPartyObligationBalances" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationBalances_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PotentialThirdPartyObligationBalances_lbl" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationBalances_lbl">Potential third-party obligation as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationBalances" xlink:to="pcyo_PotentialThirdPartyObligationBalances_lbl" xlink:title="label: PotentialThirdPartyObligationBalances to pcyo_PotentialThirdPartyObligationBalances_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationBalances_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PotentialThirdPartyObligationBalances_lbl1" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationBalances_lbl1">Potential Third-Party Obligation, Balances</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationBalances" xlink:to="pcyo_PotentialThirdPartyObligationBalances_lbl1" xlink:title="label: PotentialThirdPartyObligationBalances to pcyo_PotentialThirdPartyObligationBalances_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationBalances_lbl2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="pcyo_PotentialThirdPartyObligationBalances_lbl2" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationBalances_lbl2">Balance at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationBalances" xlink:to="pcyo_PotentialThirdPartyObligationBalances_lbl2" xlink:title="label: PotentialThirdPartyObligationBalances to pcyo_PotentialThirdPartyObligationBalances_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_PotentialThirdPartyObligationBalances_lbl3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="pcyo_PotentialThirdPartyObligationBalances_lbl3" xml:lang="en-US" id="pcyo_PotentialThirdPartyObligationBalances_lbl3">Balance at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialThirdPartyObligationBalances" xlink:to="pcyo_PotentialThirdPartyObligationBalances_lbl3" xlink:title="label: PotentialThirdPartyObligationBalances to pcyo_PotentialThirdPartyObligationBalances_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsExportWaterSalePayments" xlink:label="InitialExportWaterProceedsExportWaterSalePayments" xlink:title="InitialExportWaterProceedsExportWaterSalePayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl">Total proceeds from the sale of export water after payment of the Land Board royalty allocated through export water sale payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsExportWaterSalePayments" xlink:to="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl" xlink:title="label: InitialExportWaterProceedsExportWaterSalePayments to pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl1" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl1">Initial Export Water Proceeds, Export Water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsExportWaterSalePayments" xlink:to="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl1" xlink:title="label: InitialExportWaterProceedsExportWaterSalePayments to pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl2" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl2">Export water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsExportWaterSalePayments" xlink:to="pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl2" xlink:title="label: InitialExportWaterProceedsExportWaterSalePayments to pcyo_InitialExportWaterProceedsExportWaterSalePayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:label="TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:title="TotalPotentialThirdPartyObligationExportWaterSalePayments" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl">Total potential third-party obligation through export water sale payments during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:to="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl" xlink:title="label: TotalPotentialThirdPartyObligationExportWaterSalePayments to pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl1" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl1">Total Potential Third-Party Obligation, Export Water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:to="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl1" xlink:title="label: TotalPotentialThirdPartyObligationExportWaterSalePayments to pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl2" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl2">Export water sale payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:to="pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl2" xlink:title="label: TotalPotentialThirdPartyObligationExportWaterSalePayments to pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsBalances" xlink:label="InitialExportWaterProceedsBalances" xlink:title="InitialExportWaterProceedsBalances" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsBalances_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InitialExportWaterProceedsBalances_lbl" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsBalances_lbl">Initial export water proceeds as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsBalances" xlink:to="pcyo_InitialExportWaterProceedsBalances_lbl" xlink:title="label: InitialExportWaterProceedsBalances to pcyo_InitialExportWaterProceedsBalances_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsBalances_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InitialExportWaterProceedsBalances_lbl1" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsBalances_lbl1">Initial Export Water Proceeds, Balances</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsBalances" xlink:to="pcyo_InitialExportWaterProceedsBalances_lbl1" xlink:title="label: InitialExportWaterProceedsBalances to pcyo_InitialExportWaterProceedsBalances_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsBalances_lbl2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="pcyo_InitialExportWaterProceedsBalances_lbl2" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsBalances_lbl2">Balance at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsBalances" xlink:to="pcyo_InitialExportWaterProceedsBalances_lbl2" xlink:title="label: InitialExportWaterProceedsBalances to pcyo_InitialExportWaterProceedsBalances_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsBalances_lbl3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="pcyo_InitialExportWaterProceedsBalances_lbl3" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsBalances_lbl3">Balance at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsBalances" xlink:to="pcyo_InitialExportWaterProceedsBalances_lbl3" xlink:title="label: InitialExportWaterProceedsBalances to pcyo_InitialExportWaterProceedsBalances_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsRollForward" xlink:label="InitialExportWaterProceedsRollForward" xlink:title="InitialExportWaterProceedsRollForward" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InitialExportWaterProceedsRollForward_lbl" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsRollForward_lbl">A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="pcyo_InitialExportWaterProceedsRollForward_lbl" xlink:title="label: InitialExportWaterProceedsRollForward to pcyo_InitialExportWaterProceedsRollForward_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsRollForward_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InitialExportWaterProceedsRollForward_lbl1" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsRollForward_lbl1">Initial Export Water Proceeds [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="pcyo_InitialExportWaterProceedsRollForward_lbl1" xlink:title="label: InitialExportWaterProceedsRollForward to pcyo_InitialExportWaterProceedsRollForward_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InitialExportWaterProceedsRollForward_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_InitialExportWaterProceedsRollForward_lbl2" xml:lang="en-US" id="pcyo_InitialExportWaterProceedsRollForward_lbl2">Initial Export Water Proceeds to Pure Cycle [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="pcyo_InitialExportWaterProceedsRollForward_lbl2" xlink:title="label: InitialExportWaterProceedsRollForward to pcyo_InitialExportWaterProceedsRollForward_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAgreementTable" xlink:label="PartnershipAgreementTable" xlink:title="PartnershipAgreementTable" />
    <link:label xlink:type="resource" xlink:label="pcyo_PartnershipAgreementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PartnershipAgreementTable_lbl" xml:lang="en-US" id="pcyo_PartnershipAgreementTable_lbl">A table or schedule providing information pertaining to the partnership agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipAgreementTable" xlink:to="pcyo_PartnershipAgreementTable_lbl" xlink:title="label: PartnershipAgreementTable to pcyo_PartnershipAgreementTable_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PartnershipAgreementTable_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PartnershipAgreementTable_lbl1" xml:lang="en-US" id="pcyo_PartnershipAgreementTable_lbl1">Partnership Agreement [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipAgreementTable" xlink:to="pcyo_PartnershipAgreementTable_lbl1" xlink:title="label: PartnershipAgreementTable to pcyo_PartnershipAgreementTable_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TotalPotentialThirdPartyObligationAcquisitions" xlink:label="TotalPotentialThirdPartyObligationAcquisitions" xlink:title="TotalPotentialThirdPartyObligationAcquisitions" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl">Total potential third-party obligation through acquisitions during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationAcquisitions" xlink:to="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl" xlink:title="label: TotalPotentialThirdPartyObligationAcquisitions to pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl1" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl1">Total Potential Third-Party Obligation, Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationAcquisitions" xlink:to="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl1" xlink:title="label: TotalPotentialThirdPartyObligationAcquisitions to pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl2" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl2">Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationAcquisitions" xlink:to="pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl2" xlink:title="label: TotalPotentialThirdPartyObligationAcquisitions to pcyo_TotalPotentialThirdPartyObligationAcquisitions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:label="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:title="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl" xml:lang="en-US" id="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl">The percentage of original recorded liability as compared to total original liability.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:to="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl" xlink:title="label: PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability to pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl1" xml:lang="en-US" id="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl1">Percentage of Original Recorded Liability to Original Total Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:to="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl1" xlink:title="label: PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability to pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl2" xml:lang="en-US" id="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl2">Percentage of original recorded liability compared to original total liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:to="pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl2" xlink:title="label: PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability to pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TotalPotentialThirdPartyObligationRollForward" xlink:label="TotalPotentialThirdPartyObligationRollForward" xlink:title="TotalPotentialThirdPartyObligationRollForward" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl">A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl" xlink:title="label: TotalPotentialThirdPartyObligationRollForward to pcyo_TotalPotentialThirdPartyObligationRollForward_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl1" xml:lang="en-US" id="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl1">Total Potential Third-Party Obligation [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="pcyo_TotalPotentialThirdPartyObligationRollForward_lbl1" xlink:title="label: TotalPotentialThirdPartyObligationRollForward to pcyo_TotalPotentialThirdPartyObligationRollForward_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FairgroundsWaterAndWaterSystemMember" xlink:label="FairgroundsWaterAndWaterSystemMember" xlink:title="FairgroundsWaterAndWaterSystemMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_FairgroundsWaterAndWaterSystemMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_FairgroundsWaterAndWaterSystemMember_lbl" xml:lang="en-US" id="pcyo_FairgroundsWaterAndWaterSystemMember_lbl">Reserved ground water and water system to provide water services to the county for use at the Arapahoe County fairgrounds located in west of the Lowry Range.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairgroundsWaterAndWaterSystemMember" xlink:to="pcyo_FairgroundsWaterAndWaterSystemMember_lbl" xlink:title="label: FairgroundsWaterAndWaterSystemMember to pcyo_FairgroundsWaterAndWaterSystemMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_FairgroundsWaterAndWaterSystemMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_FairgroundsWaterAndWaterSystemMember_lbl1" xml:lang="en-US" id="pcyo_FairgroundsWaterAndWaterSystemMember_lbl1">Fairgrounds Water And Water System [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairgroundsWaterAndWaterSystemMember" xlink:to="pcyo_FairgroundsWaterAndWaterSystemMember_lbl1" xlink:title="label: FairgroundsWaterAndWaterSystemMember to pcyo_FairgroundsWaterAndWaterSystemMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_FairgroundsWaterAndWaterSystemMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_FairgroundsWaterAndWaterSystemMember_lbl2" xml:lang="en-US" id="pcyo_FairgroundsWaterAndWaterSystemMember_lbl2">Fairgrounds Water And Water System [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairgroundsWaterAndWaterSystemMember" xlink:to="pcyo_FairgroundsWaterAndWaterSystemMember_lbl2" xlink:title="label: FairgroundsWaterAndWaterSystemMember to pcyo_FairgroundsWaterAndWaterSystemMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterSupplyOtherMember" xlink:label="WaterSupplyOtherMember" xlink:title="WaterSupplyOtherMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterSupplyOtherMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WaterSupplyOtherMember_lbl" xml:lang="en-US" id="pcyo_WaterSupplyOtherMember_lbl">Assets combined with tributary surface water and groundwater rights along with certain storage rights located in different part of the country classified as other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterSupplyOtherMember" xlink:to="pcyo_WaterSupplyOtherMember_lbl" xlink:title="label: WaterSupplyOtherMember to pcyo_WaterSupplyOtherMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterSupplyOtherMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WaterSupplyOtherMember_lbl1" xml:lang="en-US" id="pcyo_WaterSupplyOtherMember_lbl1">Water Supply - Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterSupplyOtherMember" xlink:to="pcyo_WaterSupplyOtherMember_lbl1" xlink:title="label: WaterSupplyOtherMember to pcyo_WaterSupplyOtherMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterSupplyOtherMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WaterSupplyOtherMember_lbl2" xml:lang="en-US" id="pcyo_WaterSupplyOtherMember_lbl2">Water Supply - Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterSupplyOtherMember" xlink:to="pcyo_WaterSupplyOtherMember_lbl2" xlink:title="label: WaterSupplyOtherMember to pcyo_WaterSupplyOtherMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WildPointeServiceRightsMember" xlink:label="WildPointeServiceRightsMember" xlink:title="WildPointeServiceRightsMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WildPointeServiceRightsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WildPointeServiceRightsMember_lbl" xml:lang="en-US" id="pcyo_WildPointeServiceRightsMember_lbl">Service agreement right to provide water services to all users of water services within the boundaries and service area of the Elbert 86 District and for operating and maintaining the Elbert 86 District's water system.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WildPointeServiceRightsMember" xlink:to="pcyo_WildPointeServiceRightsMember_lbl" xlink:title="label: WildPointeServiceRightsMember to pcyo_WildPointeServiceRightsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WildPointeServiceRightsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WildPointeServiceRightsMember_lbl1" xml:lang="en-US" id="pcyo_WildPointeServiceRightsMember_lbl1">Wild Pointe Service Rights [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WildPointeServiceRightsMember" xlink:to="pcyo_WildPointeServiceRightsMember_lbl1" xlink:title="label: WildPointeServiceRightsMember to pcyo_WildPointeServiceRightsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LostCreekWaterSupplyMember" xlink:label="LostCreekWaterSupplyMember" xlink:title="LostCreekWaterSupplyMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_LostCreekWaterSupplyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LostCreekWaterSupplyMember_lbl" xml:lang="en-US" id="pcyo_LostCreekWaterSupplyMember_lbl">Assets combined with tributary surface water and groundwater rights along with certain storage rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LostCreekWaterSupplyMember" xlink:to="pcyo_LostCreekWaterSupplyMember_lbl" xlink:title="label: LostCreekWaterSupplyMember to pcyo_LostCreekWaterSupplyMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LostCreekWaterSupplyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LostCreekWaterSupplyMember_lbl1" xml:lang="en-US" id="pcyo_LostCreekWaterSupplyMember_lbl1">Lost Creek water supply [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LostCreekWaterSupplyMember" xlink:to="pcyo_LostCreekWaterSupplyMember_lbl1" xlink:title="label: LostCreekWaterSupplyMember to pcyo_LostCreekWaterSupplyMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LostCreekWaterSupplyMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LostCreekWaterSupplyMember_lbl2" xml:lang="en-US" id="pcyo_LostCreekWaterSupplyMember_lbl2">Lost Creek water supply [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LostCreekWaterSupplyMember" xlink:to="pcyo_LostCreekWaterSupplyMember_lbl2" xlink:title="label: LostCreekWaterSupplyMember to pcyo_LostCreekWaterSupplyMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewWaterSupplyMember" xlink:label="RangeviewWaterSupplyMember" xlink:title="RangeviewWaterSupplyMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewWaterSupplyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RangeviewWaterSupplyMember_lbl" xml:lang="en-US" id="pcyo_RangeviewWaterSupplyMember_lbl">Assets combined with tributary surface water and groundwater rights along with certain storage rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewWaterSupplyMember" xlink:to="pcyo_RangeviewWaterSupplyMember_lbl" xlink:title="label: RangeviewWaterSupplyMember to pcyo_RangeviewWaterSupplyMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewWaterSupplyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RangeviewWaterSupplyMember_lbl1" xml:lang="en-US" id="pcyo_RangeviewWaterSupplyMember_lbl1">Rangeview Water Supply [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewWaterSupplyMember" xlink:to="pcyo_RangeviewWaterSupplyMember_lbl1" xlink:title="label: RangeviewWaterSupplyMember to pcyo_RangeviewWaterSupplyMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewWaterSupplyMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RangeviewWaterSupplyMember_lbl2" xml:lang="en-US" id="pcyo_RangeviewWaterSupplyMember_lbl2">Rangeview Water Supply [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewWaterSupplyMember" xlink:to="pcyo_RangeviewWaterSupplyMember_lbl2" xlink:title="label: RangeviewWaterSupplyMember to pcyo_RangeviewWaterSupplyMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchWaterRightsAndOtherCostsMember" xlink:label="SkyRanchWaterRightsAndOtherCostsMember" xlink:title="SkyRanchWaterRightsAndOtherCostsMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl" xml:lang="en-US" id="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl">Land zoned under master planned community along the I-70 corridor east of Denver, Colorado which includes rights to water and oil and gas mineral rights and has been zoned for residential, commercial and retail uses and cost associated with the development of lots.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchWaterRightsAndOtherCostsMember" xlink:to="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl" xlink:title="label: SkyRanchWaterRightsAndOtherCostsMember to pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl1" xml:lang="en-US" id="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl1">Sky Ranch Water Rights And Other Costs [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchWaterRightsAndOtherCostsMember" xlink:to="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl1" xlink:title="label: SkyRanchWaterRightsAndOtherCostsMember to pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl2" xml:lang="en-US" id="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl2">Sky Ranch Water Rights and Other Costs [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchWaterRightsAndOtherCostsMember" xlink:to="pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl2" xlink:title="label: SkyRanchWaterRightsAndOtherCostsMember to pcyo_SkyRanchWaterRightsAndOtherCostsMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchPipelineMember" xlink:label="SkyRanchPipelineMember" xlink:title="SkyRanchPipelineMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchPipelineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_SkyRanchPipelineMember_lbl" xml:lang="en-US" id="pcyo_SkyRanchPipelineMember_lbl">Pipeline service connecting Sky Ranch water system to Rangeview's water system.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchPipelineMember" xlink:to="pcyo_SkyRanchPipelineMember_lbl" xlink:title="label: SkyRanchPipelineMember to pcyo_SkyRanchPipelineMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchPipelineMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_SkyRanchPipelineMember_lbl1" xml:lang="en-US" id="pcyo_SkyRanchPipelineMember_lbl1">Sky Ranch pipeline [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchPipelineMember" xlink:to="pcyo_SkyRanchPipelineMember_lbl1" xlink:title="label: SkyRanchPipelineMember to pcyo_SkyRanchPipelineMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchPipelineMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_SkyRanchPipelineMember_lbl2" xml:lang="en-US" id="pcyo_SkyRanchPipelineMember_lbl2">Sky Ranch Pipeline [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchPipelineMember" xlink:to="pcyo_SkyRanchPipelineMember_lbl2" xlink:title="label: SkyRanchPipelineMember to pcyo_SkyRanchPipelineMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewWaterSystemMember" xlink:label="RangeviewWaterSystemMember" xlink:title="RangeviewWaterSystemMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewWaterSystemMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RangeviewWaterSystemMember_lbl" xml:lang="en-US" id="pcyo_RangeviewWaterSystemMember_lbl">Water system to extend water service to customers located on and off the Lowry Range.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewWaterSystemMember" xlink:to="pcyo_RangeviewWaterSystemMember_lbl" xlink:title="label: RangeviewWaterSystemMember to pcyo_RangeviewWaterSystemMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewWaterSystemMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RangeviewWaterSystemMember_lbl1" xml:lang="en-US" id="pcyo_RangeviewWaterSystemMember_lbl1">Rangeview Water System [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewWaterSystemMember" xlink:to="pcyo_RangeviewWaterSystemMember_lbl1" xlink:title="label: RangeviewWaterSystemMember to pcyo_RangeviewWaterSystemMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewWaterSystemMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RangeviewWaterSystemMember_lbl2" xml:lang="en-US" id="pcyo_RangeviewWaterSystemMember_lbl2">Rangeview Water System [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewWaterSystemMember" xlink:to="pcyo_RangeviewWaterSystemMember_lbl2" xlink:title="label: RangeviewWaterSystemMember to pcyo_RangeviewWaterSystemMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractWithCustomerAssetRecognitionOfContractAsset" xlink:label="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:title="ContractWithCustomerAssetRecognitionOfContractAsset" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl" xml:lang="en-US" id="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl">Amount of increase in right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time from transfer to receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:to="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl" xlink:title="label: ContractWithCustomerAssetRecognitionOfContractAsset to pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl1" xml:lang="en-US" id="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl1">Contract with Customer, Asset, Recognition of Contract Asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:to="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl1" xlink:title="label: ContractWithCustomerAssetRecognitionOfContractAsset to pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl2" xml:lang="en-US" id="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl2">Recognition of land development revenue contract asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:to="pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl2" xlink:title="label: ContractWithCustomerAssetRecognitionOfContractAsset to pcyo_ContractWithCustomerAssetRecognitionOfContractAsset_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfUnsoldRealEstateProperties" xlink:label="NumberOfUnsoldRealEstateProperties" xlink:title="NumberOfUnsoldRealEstateProperties" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfUnsoldRealEstateProperties_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfUnsoldRealEstateProperties_lbl" xml:lang="en-US" id="pcyo_NumberOfUnsoldRealEstateProperties_lbl">The number of unsold real estate properties as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnsoldRealEstateProperties" xlink:to="pcyo_NumberOfUnsoldRealEstateProperties_lbl" xlink:title="label: NumberOfUnsoldRealEstateProperties to pcyo_NumberOfUnsoldRealEstateProperties_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfUnsoldRealEstateProperties_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfUnsoldRealEstateProperties_lbl1" xml:lang="en-US" id="pcyo_NumberOfUnsoldRealEstateProperties_lbl1">Number of Unsold Real Estate Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnsoldRealEstateProperties" xlink:to="pcyo_NumberOfUnsoldRealEstateProperties_lbl1" xlink:title="label: NumberOfUnsoldRealEstateProperties to pcyo_NumberOfUnsoldRealEstateProperties_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfUnsoldRealEstateProperties_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfUnsoldRealEstateProperties_lbl2" xml:lang="en-US" id="pcyo_NumberOfUnsoldRealEstateProperties_lbl2">Number of unsold lots</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnsoldRealEstateProperties" xlink:to="pcyo_NumberOfUnsoldRealEstateProperties_lbl2" xlink:title="label: NumberOfUnsoldRealEstateProperties to pcyo_NumberOfUnsoldRealEstateProperties_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractWithCustomerDeferralOfRevenue" xlink:label="ContractWithCustomerDeferralOfRevenue" xlink:title="ContractWithCustomerDeferralOfRevenue" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractWithCustomerDeferralOfRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContractWithCustomerDeferralOfRevenue_lbl" xml:lang="en-US" id="pcyo_ContractWithCustomerDeferralOfRevenue_lbl">The amount of deferral of revenue from contract with customer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerDeferralOfRevenue" xlink:to="pcyo_ContractWithCustomerDeferralOfRevenue_lbl" xlink:title="label: ContractWithCustomerDeferralOfRevenue to pcyo_ContractWithCustomerDeferralOfRevenue_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractWithCustomerDeferralOfRevenue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContractWithCustomerDeferralOfRevenue_lbl1" xml:lang="en-US" id="pcyo_ContractWithCustomerDeferralOfRevenue_lbl1">Contract with Customer, Deferral of Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerDeferralOfRevenue" xlink:to="pcyo_ContractWithCustomerDeferralOfRevenue_lbl1" xlink:title="label: ContractWithCustomerDeferralOfRevenue to pcyo_ContractWithCustomerDeferralOfRevenue_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractWithCustomerDeferralOfRevenue_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ContractWithCustomerDeferralOfRevenue_lbl2" xml:lang="en-US" id="pcyo_ContractWithCustomerDeferralOfRevenue_lbl2">Deferral of revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractWithCustomerDeferralOfRevenue" xlink:to="pcyo_ContractWithCustomerDeferralOfRevenue_lbl2" xlink:title="label: ContractWithCustomerDeferralOfRevenue to pcyo_ContractWithCustomerDeferralOfRevenue_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInDeferredRevenueAbstract" xlink:label="ChangesInDeferredRevenueAbstract" xlink:title="ChangesInDeferredRevenueAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInDeferredRevenueAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ChangesInDeferredRevenueAbstract_lbl1" xml:lang="en-US" id="pcyo_ChangesInDeferredRevenueAbstract_lbl1">Changes in Deferred Revenue [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInDeferredRevenueAbstract" xlink:to="pcyo_ChangesInDeferredRevenueAbstract_lbl1" xlink:title="label: ChangesInDeferredRevenueAbstract to pcyo_ChangesInDeferredRevenueAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInDeferredRevenueAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ChangesInDeferredRevenueAbstract_lbl2" xml:lang="en-US" id="pcyo_ChangesInDeferredRevenueAbstract_lbl2">Changes in Deferred Revenue [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInDeferredRevenueAbstract" xlink:to="pcyo_ChangesInDeferredRevenueAbstract_lbl2" xlink:title="label: ChangesInDeferredRevenueAbstract to pcyo_ChangesInDeferredRevenueAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OilAndGasLeasesAndWaterSalesPaymentMember" xlink:label="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:title="OilAndGasLeasesAndWaterSalesPaymentMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl" xml:lang="en-US" id="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl">Viscous liquid derived from petroleum and flammable gas occurring naturally underground and water.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:to="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl" xlink:title="label: OilAndGasLeasesAndWaterSalesPaymentMember to pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl1" xml:lang="en-US" id="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl1">Oil and Gas Leases and Water Sales Payment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:to="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl1" xlink:title="label: OilAndGasLeasesAndWaterSalesPaymentMember to pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl2" xml:lang="en-US" id="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl2">Oil and Gas Leases and Water Sales Payment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:to="pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl2" xlink:title="label: OilAndGasLeasesAndWaterSalesPaymentMember to pcyo_OilAndGasLeasesAndWaterSalesPaymentMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInContractAssetAbstract" xlink:label="ChangesInContractAssetAbstract" xlink:title="ChangesInContractAssetAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInContractAssetAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ChangesInContractAssetAbstract_lbl1" xml:lang="en-US" id="pcyo_ChangesInContractAssetAbstract_lbl1">Changes in Contract Asset [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInContractAssetAbstract" xlink:to="pcyo_ChangesInContractAssetAbstract_lbl1" xlink:title="label: ChangesInContractAssetAbstract to pcyo_ChangesInContractAssetAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInContractAssetAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ChangesInContractAssetAbstract_lbl2" xml:lang="en-US" id="pcyo_ChangesInContractAssetAbstract_lbl2">Changes in Contract Asset [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInContractAssetAbstract" xlink:to="pcyo_ChangesInContractAssetAbstract_lbl2" xlink:title="label: ChangesInContractAssetAbstract to pcyo_ChangesInContractAssetAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredTaxImpactOnIncomeTaxProvision" xlink:label="DeferredTaxImpactOnIncomeTaxProvision" xlink:title="DeferredTaxImpactOnIncomeTaxProvision" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl" xml:lang="en-US" id="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl">The amount of deferred tax impact on the income tax provision as a result of the granting and exercise of stock options.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxImpactOnIncomeTaxProvision" xlink:to="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl" xlink:title="label: DeferredTaxImpactOnIncomeTaxProvision to pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl1" xml:lang="en-US" id="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl1">Deferred Tax Impact on Income Tax Provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxImpactOnIncomeTaxProvision" xlink:to="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl1" xlink:title="label: DeferredTaxImpactOnIncomeTaxProvision to pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl2" xml:lang="en-US" id="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl2">Deferred tax impact</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxImpactOnIncomeTaxProvision" xlink:to="pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl2" xlink:title="label: DeferredTaxImpactOnIncomeTaxProvision to pcyo_DeferredTaxImpactOnIncomeTaxProvision_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:label="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:title="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" />
    <link:label xlink:type="resource" xlink:label="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl" xml:lang="en-US" id="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl">The amount of tax expense (benefit) related for the granting and exercise of stock options.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:to="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl" xlink:title="label: TaxExpenseBenefitForGrantingAndExerciseOfStockOptions to pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl1" xml:lang="en-US" id="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl1">Tax Expense (Benefit) for Granting and Exercise of Stock Options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:to="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl1" xlink:title="label: TaxExpenseBenefitForGrantingAndExerciseOfStockOptions to pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl2" xml:lang="en-US" id="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl2">Tax expense (benefit) for granting and exercise of stock options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:to="pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl2" xlink:title="label: TaxExpenseBenefitForGrantingAndExerciseOfStockOptions to pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesSecondFormatMember" xlink:label="LotSalesSecondFormatMember" xlink:title="LotSalesSecondFormatMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesSecondFormatMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LotSalesSecondFormatMember_lbl" xml:lang="en-US" id="pcyo_LotSalesSecondFormatMember_lbl">Lot sales from agreement with builder.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesSecondFormatMember" xlink:to="pcyo_LotSalesSecondFormatMember_lbl" xlink:title="label: LotSalesSecondFormatMember to pcyo_LotSalesSecondFormatMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesSecondFormatMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LotSalesSecondFormatMember_lbl1" xml:lang="en-US" id="pcyo_LotSalesSecondFormatMember_lbl1">Lot Sales Second Format [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesSecondFormatMember" xlink:to="pcyo_LotSalesSecondFormatMember_lbl1" xlink:title="label: LotSalesSecondFormatMember to pcyo_LotSalesSecondFormatMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesSecondFormatMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LotSalesSecondFormatMember_lbl2" xml:lang="en-US" id="pcyo_LotSalesSecondFormatMember_lbl2">Lot Sales - Agreement with Builders [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesSecondFormatMember" xlink:to="pcyo_LotSalesSecondFormatMember_lbl2" xlink:title="label: LotSalesSecondFormatMember to pcyo_LotSalesSecondFormatMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfPlattedLotsSold" xlink:label="NumberOfPlattedLotsSold" xlink:title="NumberOfPlattedLotsSold" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfPlattedLotsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfPlattedLotsSold_lbl" xml:lang="en-US" id="pcyo_NumberOfPlattedLotsSold_lbl">Number of platted lots sold during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPlattedLotsSold" xlink:to="pcyo_NumberOfPlattedLotsSold_lbl" xlink:title="label: NumberOfPlattedLotsSold to pcyo_NumberOfPlattedLotsSold_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfPlattedLotsSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfPlattedLotsSold_lbl1" xml:lang="en-US" id="pcyo_NumberOfPlattedLotsSold_lbl1">Number of Platted Lots Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPlattedLotsSold" xlink:to="pcyo_NumberOfPlattedLotsSold_lbl1" xlink:title="label: NumberOfPlattedLotsSold to pcyo_NumberOfPlattedLotsSold_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfPlattedLotsSold_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfPlattedLotsSold_lbl2" xml:lang="en-US" id="pcyo_NumberOfPlattedLotsSold_lbl2">Number of platted lots sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPlattedLotsSold" xlink:to="pcyo_NumberOfPlattedLotsSold_lbl2" xlink:title="label: NumberOfPlattedLotsSold to pcyo_NumberOfPlattedLotsSold_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterDeliveredToCustomers" xlink:label="WaterDeliveredToCustomers" xlink:title="WaterDeliveredToCustomers" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterDeliveredToCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WaterDeliveredToCustomers_lbl" xml:lang="en-US" id="pcyo_WaterDeliveredToCustomers_lbl">Water delivered to customers during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterDeliveredToCustomers" xlink:to="pcyo_WaterDeliveredToCustomers_lbl" xlink:title="label: WaterDeliveredToCustomers to pcyo_WaterDeliveredToCustomers_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterDeliveredToCustomers_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WaterDeliveredToCustomers_lbl1" xml:lang="en-US" id="pcyo_WaterDeliveredToCustomers_lbl1">Water delivered to customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterDeliveredToCustomers" xlink:to="pcyo_WaterDeliveredToCustomers_lbl1" xlink:title="label: WaterDeliveredToCustomers to pcyo_WaterDeliveredToCustomers_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterDeliveredToCustomers_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WaterDeliveredToCustomers_lbl2" xml:lang="en-US" id="pcyo_WaterDeliveredToCustomers_lbl2">Water delivered to customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterDeliveredToCustomers" xlink:to="pcyo_WaterDeliveredToCustomers_lbl2" xlink:title="label: WaterDeliveredToCustomers to pcyo_WaterDeliveredToCustomers_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfFinishedLotsSold" xlink:label="NumberOfFinishedLotsSold" xlink:title="NumberOfFinishedLotsSold" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfFinishedLotsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfFinishedLotsSold_lbl" xml:lang="en-US" id="pcyo_NumberOfFinishedLotsSold_lbl">Number of finished lots sold during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfFinishedLotsSold" xlink:to="pcyo_NumberOfFinishedLotsSold_lbl" xlink:title="label: NumberOfFinishedLotsSold to pcyo_NumberOfFinishedLotsSold_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfFinishedLotsSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfFinishedLotsSold_lbl1" xml:lang="en-US" id="pcyo_NumberOfFinishedLotsSold_lbl1">Number of Finished Lots Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfFinishedLotsSold" xlink:to="pcyo_NumberOfFinishedLotsSold_lbl1" xlink:title="label: NumberOfFinishedLotsSold to pcyo_NumberOfFinishedLotsSold_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfFinishedLotsSold_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfFinishedLotsSold_lbl2" xml:lang="en-US" id="pcyo_NumberOfFinishedLotsSold_lbl2">Number of finished lots sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfFinishedLotsSold" xlink:to="pcyo_NumberOfFinishedLotsSold_lbl2" xlink:title="label: NumberOfFinishedLotsSold to pcyo_NumberOfFinishedLotsSold_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:label="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:title="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl" xml:lang="en-US" id="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl">Percentage of expected increase in revenues as a results from reimbursed of construction costs, margin from land and development.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:to="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl" xlink:title="label: PercentageOfExpectedIncreaseInRevenuesReimbursedCosts to pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl1" xml:lang="en-US" id="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl1">Percentage of Expected Increase In Revenues Reimbursed Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:to="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl1" xlink:title="label: PercentageOfExpectedIncreaseInRevenuesReimbursedCosts to pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl2" xml:lang="en-US" id="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl2">Percentage of expected increase in revenues, reimbursed costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:to="pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl2" xlink:title="label: PercentageOfExpectedIncreaseInRevenuesReimbursedCosts to pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfHomeBuilders" xlink:label="NumberOfHomeBuilders" xlink:title="NumberOfHomeBuilders" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfHomeBuilders_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfHomeBuilders_lbl" xml:lang="en-US" id="pcyo_NumberOfHomeBuilders_lbl">Refers to number of home builders.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfHomeBuilders" xlink:to="pcyo_NumberOfHomeBuilders_lbl" xlink:title="label: NumberOfHomeBuilders to pcyo_NumberOfHomeBuilders_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfHomeBuilders_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfHomeBuilders_lbl1" xml:lang="en-US" id="pcyo_NumberOfHomeBuilders_lbl1">Number of Home Builders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfHomeBuilders" xlink:to="pcyo_NumberOfHomeBuilders_lbl1" xlink:title="label: NumberOfHomeBuilders to pcyo_NumberOfHomeBuilders_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfHomeBuilders_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfHomeBuilders_lbl2" xml:lang="en-US" id="pcyo_NumberOfHomeBuilders_lbl2">Number of home builders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfHomeBuilders" xlink:to="pcyo_NumberOfHomeBuilders_lbl2" xlink:title="label: NumberOfHomeBuilders to pcyo_NumberOfHomeBuilders_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedDeliveryPeriodForLotsSold" xlink:label="ExpectedDeliveryPeriodForLotsSold" xlink:title="ExpectedDeliveryPeriodForLotsSold" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl" xml:lang="en-US" id="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl">Expected delivery period for lots sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDeliveryPeriodForLotsSold" xlink:to="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl" xlink:title="label: ExpectedDeliveryPeriodForLotsSold to pcyo_ExpectedDeliveryPeriodForLotsSold_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl1" xml:lang="en-US" id="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl1">Expected delivery period for lots sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDeliveryPeriodForLotsSold" xlink:to="pcyo_ExpectedDeliveryPeriodForLotsSold_lbl1" xlink:title="label: ExpectedDeliveryPeriodForLotsSold to pcyo_ExpectedDeliveryPeriodForLotsSold_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredInterestIncome" xlink:label="DeferredInterestIncome" xlink:title="DeferredInterestIncome" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredInterestIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_DeferredInterestIncome_lbl" xml:lang="en-US" id="pcyo_DeferredInterestIncome_lbl">The amount of interest income on advances made to the Sky Ranch Community Authority Board (the "CAB") that has been deferred.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredInterestIncome" xlink:to="pcyo_DeferredInterestIncome_lbl" xlink:title="label: DeferredInterestIncome to pcyo_DeferredInterestIncome_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredInterestIncome_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_DeferredInterestIncome_lbl1" xml:lang="en-US" id="pcyo_DeferredInterestIncome_lbl1">Deferred Interest Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredInterestIncome" xlink:to="pcyo_DeferredInterestIncome_lbl1" xlink:title="label: DeferredInterestIncome to pcyo_DeferredInterestIncome_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredInterestIncome_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_DeferredInterestIncome_lbl2" xml:lang="en-US" id="pcyo_DeferredInterestIncome_lbl2">Deferred interest income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredInterestIncome" xlink:to="pcyo_DeferredInterestIncome_lbl2" xlink:title="label: DeferredInterestIncome to pcyo_DeferredInterestIncome_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConstructionSupportAmountInvoiced" xlink:label="ConstructionSupportAmountInvoiced" xlink:title="ConstructionSupportAmountInvoiced" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConstructionSupportAmountInvoiced_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ConstructionSupportAmountInvoiced_lbl" xml:lang="en-US" id="pcyo_ConstructionSupportAmountInvoiced_lbl">Amount of construction support amount invoiced to the vendor.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionSupportAmountInvoiced" xlink:to="pcyo_ConstructionSupportAmountInvoiced_lbl" xlink:title="label: ConstructionSupportAmountInvoiced to pcyo_ConstructionSupportAmountInvoiced_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConstructionSupportAmountInvoiced_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ConstructionSupportAmountInvoiced_lbl1" xml:lang="en-US" id="pcyo_ConstructionSupportAmountInvoiced_lbl1">Construction Support Amount Invoiced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionSupportAmountInvoiced" xlink:to="pcyo_ConstructionSupportAmountInvoiced_lbl1" xlink:title="label: ConstructionSupportAmountInvoiced to pcyo_ConstructionSupportAmountInvoiced_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConstructionSupportAmountInvoiced_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ConstructionSupportAmountInvoiced_lbl2" xml:lang="en-US" id="pcyo_ConstructionSupportAmountInvoiced_lbl2">Construction support amount invoiced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionSupportAmountInvoiced" xlink:to="pcyo_ConstructionSupportAmountInvoiced_lbl2" xlink:title="label: ConstructionSupportAmountInvoiced to pcyo_ConstructionSupportAmountInvoiced_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfServiceAgreementsProjects" xlink:label="NumberOfServiceAgreementsProjects" xlink:title="NumberOfServiceAgreementsProjects" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfServiceAgreementsProjects_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfServiceAgreementsProjects_lbl" xml:lang="en-US" id="pcyo_NumberOfServiceAgreementsProjects_lbl">Number of service agreements for project management services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfServiceAgreementsProjects" xlink:to="pcyo_NumberOfServiceAgreementsProjects_lbl" xlink:title="label: NumberOfServiceAgreementsProjects to pcyo_NumberOfServiceAgreementsProjects_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfServiceAgreementsProjects_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfServiceAgreementsProjects_lbl1" xml:lang="en-US" id="pcyo_NumberOfServiceAgreementsProjects_lbl1">Number of Service Agreements Projects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfServiceAgreementsProjects" xlink:to="pcyo_NumberOfServiceAgreementsProjects_lbl1" xlink:title="label: NumberOfServiceAgreementsProjects to pcyo_NumberOfServiceAgreementsProjects_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfServiceAgreementsProjects_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfServiceAgreementsProjects_lbl2" xml:lang="en-US" id="pcyo_NumberOfServiceAgreementsProjects_lbl2">Number of service agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfServiceAgreementsProjects" xlink:to="pcyo_NumberOfServiceAgreementsProjects_lbl2" xlink:title="label: NumberOfServiceAgreementsProjects to pcyo_NumberOfServiceAgreementsProjects_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesAccruedReimbursableAmount" xlink:label="ProjectManagementServicesAccruedReimbursableAmount" xlink:title="ProjectManagementServicesAccruedReimbursableAmount" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl" xml:lang="en-US" id="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl">Project management services accrued reimbursable amount included in inventories.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectManagementServicesAccruedReimbursableAmount" xlink:to="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl" xlink:title="label: ProjectManagementServicesAccruedReimbursableAmount to pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl1" xml:lang="en-US" id="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl1">Project management services - accrued reimbursable amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectManagementServicesAccruedReimbursableAmount" xlink:to="pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl1" xlink:title="label: ProjectManagementServicesAccruedReimbursableAmount to pcyo_ProjectManagementServicesAccruedReimbursableAmount_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:label="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:title="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" />
    <link:label xlink:type="resource" xlink:label="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl" xml:lang="en-US" id="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl">The amount of net proceeds utilized to reduce the remaining capitalized expenses in inventories.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:to="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl" xlink:title="label: NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories to pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl1" xml:lang="en-US" id="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl1">Net Proceeds Used to Reduced Remaining Capitalized Expenses In Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:to="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl1" xlink:title="label: NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories to pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl2" xml:lang="en-US" id="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl2">Net proceeds used to reduce remaining capital expenses in inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:to="pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl2" xlink:title="label: NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories to pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterTapFeeMember" xlink:label="WastewaterTapFeeMember" xlink:title="WastewaterTapFeeMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterTapFeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WastewaterTapFeeMember_lbl" xml:lang="en-US" id="pcyo_WastewaterTapFeeMember_lbl">Wastewater tap fee constitutes a right to connect to the Company's wholesale water and wastewater systems through a service line to a residential or commercial building or property, and once granted, the customer may make a physical tap into the wholesale line(s) to connect its property for water and/or wastewater service.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterTapFeeMember" xlink:to="pcyo_WastewaterTapFeeMember_lbl" xlink:title="label: WastewaterTapFeeMember to pcyo_WastewaterTapFeeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterTapFeeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WastewaterTapFeeMember_lbl1" xml:lang="en-US" id="pcyo_WastewaterTapFeeMember_lbl1">Wastewater Tap Fee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterTapFeeMember" xlink:to="pcyo_WastewaterTapFeeMember_lbl1" xlink:title="label: WastewaterTapFeeMember to pcyo_WastewaterTapFeeMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterTapFeeMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WastewaterTapFeeMember_lbl2" xml:lang="en-US" id="pcyo_WastewaterTapFeeMember_lbl2">Wastewater Tap Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterTapFeeMember" xlink:to="pcyo_WastewaterTapFeeMember_lbl2" xlink:title="label: WastewaterTapFeeMember to pcyo_WastewaterTapFeeMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SpecialFacilityFundingRecognizedMember" xlink:label="SpecialFacilityFundingRecognizedMember" xlink:title="SpecialFacilityFundingRecognizedMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_SpecialFacilityFundingRecognizedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_SpecialFacilityFundingRecognizedMember_lbl" xml:lang="en-US" id="pcyo_SpecialFacilityFundingRecognizedMember_lbl">Special facility funding recognized based on usage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecialFacilityFundingRecognizedMember" xlink:to="pcyo_SpecialFacilityFundingRecognizedMember_lbl" xlink:title="label: SpecialFacilityFundingRecognizedMember to pcyo_SpecialFacilityFundingRecognizedMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_SpecialFacilityFundingRecognizedMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_SpecialFacilityFundingRecognizedMember_lbl1" xml:lang="en-US" id="pcyo_SpecialFacilityFundingRecognizedMember_lbl1">Special Facility Funding Recognized [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecialFacilityFundingRecognizedMember" xlink:to="pcyo_SpecialFacilityFundingRecognizedMember_lbl1" xlink:title="label: SpecialFacilityFundingRecognizedMember to pcyo_SpecialFacilityFundingRecognizedMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_SpecialFacilityFundingRecognizedMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_SpecialFacilityFundingRecognizedMember_lbl2" xml:lang="en-US" id="pcyo_SpecialFacilityFundingRecognizedMember_lbl2">Special Facility Funding Recognized [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecialFacilityFundingRecognizedMember" xlink:to="pcyo_SpecialFacilityFundingRecognizedMember_lbl2" xlink:title="label: SpecialFacilityFundingRecognizedMember to pcyo_SpecialFacilityFundingRecognizedMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesFirstFormatMember" xlink:label="LotSalesFirstFormatMember" xlink:title="LotSalesFirstFormatMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesFirstFormatMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LotSalesFirstFormatMember_lbl" xml:lang="en-US" id="pcyo_LotSalesFirstFormatMember_lbl">Lot sales from agreement with purchaser.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesFirstFormatMember" xlink:to="pcyo_LotSalesFirstFormatMember_lbl" xlink:title="label: LotSalesFirstFormatMember to pcyo_LotSalesFirstFormatMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesFirstFormatMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LotSalesFirstFormatMember_lbl1" xml:lang="en-US" id="pcyo_LotSalesFirstFormatMember_lbl1">Lot Sales First Format [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesFirstFormatMember" xlink:to="pcyo_LotSalesFirstFormatMember_lbl1" xlink:title="label: LotSalesFirstFormatMember to pcyo_LotSalesFirstFormatMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesFirstFormatMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LotSalesFirstFormatMember_lbl2" xml:lang="en-US" id="pcyo_LotSalesFirstFormatMember_lbl2">Lot Sales - Agreement with Purchaser [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesFirstFormatMember" xlink:to="pcyo_LotSalesFirstFormatMember_lbl2" xlink:title="label: LotSalesFirstFormatMember to pcyo_LotSalesFirstFormatMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:label="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:title="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl" xml:lang="en-US" id="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl">Water tap fees recognized excluding wastewater tap fees.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:to="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl" xlink:title="label: WaterTapFeesRecognizedExcludingWastewaterTapFeeMember to pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl1" xml:lang="en-US" id="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl1">Water Tap Fees Recognized excluding Wastewater Tap Fee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:to="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl1" xlink:title="label: WaterTapFeesRecognizedExcludingWastewaterTapFeeMember to pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl2" xml:lang="en-US" id="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl2">Water Tap Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:to="pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl2" xlink:title="label: WaterTapFeesRecognizedExcludingWastewaterTapFeeMember to pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConsultingFeesMember" xlink:label="ConsultingFeesMember" xlink:title="ConsultingFeesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConsultingFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ConsultingFeesMember_lbl" xml:lang="en-US" id="pcyo_ConsultingFeesMember_lbl">Consulting fees are fees receives, typically on a monthly basis, from municipalities and area water providers along the I-70 corridor, for contract operations services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsultingFeesMember" xlink:to="pcyo_ConsultingFeesMember_lbl" xlink:title="label: ConsultingFeesMember to pcyo_ConsultingFeesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConsultingFeesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ConsultingFeesMember_lbl1" xml:lang="en-US" id="pcyo_ConsultingFeesMember_lbl1">Consulting Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsultingFeesMember" xlink:to="pcyo_ConsultingFeesMember_lbl1" xlink:title="label: ConsultingFeesMember to pcyo_ConsultingFeesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConsultingFeesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ConsultingFeesMember_lbl2" xml:lang="en-US" id="pcyo_ConsultingFeesMember_lbl2">Consulting Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsultingFeesMember" xlink:to="pcyo_ConsultingFeesMember_lbl2" xlink:title="label: ConsultingFeesMember to pcyo_ConsultingFeesMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterTapFeeMember" xlink:label="WaterTapFeeMember" xlink:title="WaterTapFeeMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterTapFeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WaterTapFeeMember_lbl" xml:lang="en-US" id="pcyo_WaterTapFeeMember_lbl">Water tap fee constitutes a right to connect to the Company's wholesale water and wastewater systems through a service line to a residential or commercial building or property, and once granted, the customer may make a physical tap into the wholesale line(s) to connect its property for water and/or wastewater service.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterTapFeeMember" xlink:to="pcyo_WaterTapFeeMember_lbl" xlink:title="label: WaterTapFeeMember to pcyo_WaterTapFeeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterTapFeeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WaterTapFeeMember_lbl1" xml:lang="en-US" id="pcyo_WaterTapFeeMember_lbl1">Water Tap Fee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterTapFeeMember" xlink:to="pcyo_WaterTapFeeMember_lbl1" xlink:title="label: WaterTapFeeMember to pcyo_WaterTapFeeMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterTapFeeMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_WaterTapFeeMember_lbl2" xml:lang="en-US" id="pcyo_WaterTapFeeMember_lbl2">Water Tap Fees Recognized [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterTapFeeMember" xlink:to="pcyo_WaterTapFeeMember_lbl2" xlink:title="label: WaterTapFeeMember to pcyo_WaterTapFeeMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfBusinessLines" xlink:label="NumberOfBusinessLines" xlink:title="NumberOfBusinessLines" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfBusinessLines_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfBusinessLines_lbl" xml:lang="en-US" id="pcyo_NumberOfBusinessLines_lbl">Number of business lines in operation by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBusinessLines" xlink:to="pcyo_NumberOfBusinessLines_lbl" xlink:title="label: NumberOfBusinessLines to pcyo_NumberOfBusinessLines_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfBusinessLines_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfBusinessLines_lbl1" xml:lang="en-US" id="pcyo_NumberOfBusinessLines_lbl1">Number of Business Lines</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBusinessLines" xlink:to="pcyo_NumberOfBusinessLines_lbl1" xlink:title="label: NumberOfBusinessLines to pcyo_NumberOfBusinessLines_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfBusinessLines_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfBusinessLines_lbl2" xml:lang="en-US" id="pcyo_NumberOfBusinessLines_lbl2">Number of business lines</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBusinessLines" xlink:to="pcyo_NumberOfBusinessLines_lbl2" xlink:title="label: NumberOfBusinessLines to pcyo_NumberOfBusinessLines_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfWaterUsedForOilAndGasExploration" xlink:label="PercentageOfWaterUsedForOilAndGasExploration" xlink:title="PercentageOfWaterUsedForOilAndGasExploration" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl" xml:lang="en-US" id="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl">Percentage of water used for oil and gas exploration.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfWaterUsedForOilAndGasExploration" xlink:to="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl" xlink:title="label: PercentageOfWaterUsedForOilAndGasExploration to pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl1" xml:lang="en-US" id="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl1">Percentage of Water used for Oil and Gas Exploration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfWaterUsedForOilAndGasExploration" xlink:to="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl1" xlink:title="label: PercentageOfWaterUsedForOilAndGasExploration to pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl2" xml:lang="en-US" id="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl2">Percentage of water used for oil and gas exploration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfWaterUsedForOilAndGasExploration" xlink:to="pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl2" xlink:title="label: PercentageOfWaterUsedForOilAndGasExploration to pcyo_PercentageOfWaterUsedForOilAndGasExploration_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfRevenueSources" xlink:label="NumberOfRevenueSources" xlink:title="NumberOfRevenueSources" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfRevenueSources_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfRevenueSources_lbl" xml:lang="en-US" id="pcyo_NumberOfRevenueSources_lbl">Number of revenue sources from where company generates revenues.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRevenueSources" xlink:to="pcyo_NumberOfRevenueSources_lbl" xlink:title="label: NumberOfRevenueSources to pcyo_NumberOfRevenueSources_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfRevenueSources_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfRevenueSources_lbl1" xml:lang="en-US" id="pcyo_NumberOfRevenueSources_lbl1">Number of Revenue Sources</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRevenueSources" xlink:to="pcyo_NumberOfRevenueSources_lbl1" xlink:title="label: NumberOfRevenueSources to pcyo_NumberOfRevenueSources_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfRevenueSources_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfRevenueSources_lbl2" xml:lang="en-US" id="pcyo_NumberOfRevenueSources_lbl2">Number of revenue sources</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRevenueSources" xlink:to="pcyo_NumberOfRevenueSources_lbl2" xlink:title="label: NumberOfRevenueSources to pcyo_NumberOfRevenueSources_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesMember" xlink:label="ProjectManagementServicesMember" xlink:title="ProjectManagementServicesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectManagementServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ProjectManagementServicesMember_lbl" xml:lang="en-US" id="pcyo_ProjectManagementServicesMember_lbl">Revenue derived from project management services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectManagementServicesMember" xlink:to="pcyo_ProjectManagementServicesMember_lbl" xlink:title="label: ProjectManagementServicesMember to pcyo_ProjectManagementServicesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectManagementServicesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ProjectManagementServicesMember_lbl1" xml:lang="en-US" id="pcyo_ProjectManagementServicesMember_lbl1">Project Management Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectManagementServicesMember" xlink:to="pcyo_ProjectManagementServicesMember_lbl1" xlink:title="label: ProjectManagementServicesMember to pcyo_ProjectManagementServicesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectManagementServicesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ProjectManagementServicesMember_lbl2" xml:lang="en-US" id="pcyo_ProjectManagementServicesMember_lbl2">Project Management Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectManagementServicesMember" xlink:to="pcyo_ProjectManagementServicesMember_lbl2" xlink:title="label: ProjectManagementServicesMember to pcyo_ProjectManagementServicesMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostNet" xlink:label="ReimbursableCostNet" xlink:title="ReimbursableCostNet" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursableCostNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ReimbursableCostNet_lbl" xml:lang="en-US" id="pcyo_ReimbursableCostNet_lbl">Cost associated with reimbursable income net. This occurs when a services entity incurs expenses on behalf of the client and passes through the cost of reimbursable expenses to a client.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursableCostNet" xlink:to="pcyo_ReimbursableCostNet_lbl" xlink:title="label: ReimbursableCostNet to pcyo_ReimbursableCostNet_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursableCostNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ReimbursableCostNet_lbl1" xml:lang="en-US" id="pcyo_ReimbursableCostNet_lbl1">Reimbursable Cost, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursableCostNet" xlink:to="pcyo_ReimbursableCostNet_lbl1" xlink:title="label: ReimbursableCostNet to pcyo_ReimbursableCostNet_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursableCostNet_lbl2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="pcyo_ReimbursableCostNet_lbl2" xml:lang="en-US" id="pcyo_ReimbursableCostNet_lbl2">Net costs incurred to date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursableCostNet" xlink:to="pcyo_ReimbursableCostNet_lbl2" xlink:title="label: ReimbursableCostNet to pcyo_ReimbursableCostNet_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsRepaidByCommunityAuthorityBoard" xlink:label="PaymentsRepaidByCommunityAuthorityBoard" xlink:title="PaymentsRepaidByCommunityAuthorityBoard" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl" xml:lang="en-US" id="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl">Payment repaid by authority board.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsRepaidByCommunityAuthorityBoard" xlink:to="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl" xlink:title="label: PaymentsRepaidByCommunityAuthorityBoard to pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl1" xml:lang="en-US" id="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl1">Payments Repaid by Community Authority Board</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsRepaidByCommunityAuthorityBoard" xlink:to="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl1" xlink:title="label: PaymentsRepaidByCommunityAuthorityBoard to pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl2" xml:lang="en-US" id="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl2">Payments repaid by CAB</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsRepaidByCommunityAuthorityBoard" xlink:to="pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl2" xlink:title="label: PaymentsRepaidByCommunityAuthorityBoard to pcyo_PaymentsRepaidByCommunityAuthorityBoard_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostGross" xlink:label="ReimbursableCostGross" xlink:title="ReimbursableCostGross" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursableCostGross_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ReimbursableCostGross_lbl" xml:lang="en-US" id="pcyo_ReimbursableCostGross_lbl">Cost associated with reimbursable income gross. This occurs when a services entity incurs expenses on behalf of the client and passes through the cost of reimbursable expenses to a client.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursableCostGross" xlink:to="pcyo_ReimbursableCostGross_lbl" xlink:title="label: ReimbursableCostGross to pcyo_ReimbursableCostGross_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursableCostGross_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ReimbursableCostGross_lbl1" xml:lang="en-US" id="pcyo_ReimbursableCostGross_lbl1">Reimbursable Cost, Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursableCostGross" xlink:to="pcyo_ReimbursableCostGross_lbl1" xlink:title="label: ReimbursableCostGross to pcyo_ReimbursableCostGross_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursableCostGross_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ReimbursableCostGross_lbl2" xml:lang="en-US" id="pcyo_ReimbursableCostGross_lbl2">Costs incurred to date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursableCostGross" xlink:to="pcyo_ReimbursableCostGross_lbl2" xlink:title="label: ReimbursableCostGross to pcyo_ReimbursableCostGross_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostsNetAbstract" xlink:label="ReimbursableCostsNetAbstract" xlink:title="ReimbursableCostsNetAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursableCostsNetAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ReimbursableCostsNetAbstract_lbl1" xml:lang="en-US" id="pcyo_ReimbursableCostsNetAbstract_lbl1">Reimbursable Costs, Net [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursableCostsNetAbstract" xlink:to="pcyo_ReimbursableCostsNetAbstract_lbl1" xlink:title="label: ReimbursableCostsNetAbstract to pcyo_ReimbursableCostsNetAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PublicImprovementsMember" xlink:label="PublicImprovementsMember" xlink:title="PublicImprovementsMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_PublicImprovementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PublicImprovementsMember_lbl" xml:lang="en-US" id="pcyo_PublicImprovementsMember_lbl">Reimbursable costs related to Public improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PublicImprovementsMember" xlink:to="pcyo_PublicImprovementsMember_lbl" xlink:title="label: PublicImprovementsMember to pcyo_PublicImprovementsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PublicImprovementsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PublicImprovementsMember_lbl1" xml:lang="en-US" id="pcyo_PublicImprovementsMember_lbl1">Public Improvements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PublicImprovementsMember" xlink:to="pcyo_PublicImprovementsMember_lbl1" xlink:title="label: PublicImprovementsMember to pcyo_PublicImprovementsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_AccruedInterestMember" xlink:label="AccruedInterestMember" xlink:title="AccruedInterestMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_AccruedInterestMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_AccruedInterestMember_lbl" xml:lang="en-US" id="pcyo_AccruedInterestMember_lbl">Reimbursable costs related to accrued interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedInterestMember" xlink:to="pcyo_AccruedInterestMember_lbl" xlink:title="label: AccruedInterestMember to pcyo_AccruedInterestMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_AccruedInterestMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_AccruedInterestMember_lbl1" xml:lang="en-US" id="pcyo_AccruedInterestMember_lbl1">Accrued Interest [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedInterestMember" xlink:to="pcyo_AccruedInterestMember_lbl1" xlink:title="label: AccruedInterestMember to pcyo_AccruedInterestMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConstructionSupportActivitiesMember" xlink:label="ConstructionSupportActivitiesMember" xlink:title="ConstructionSupportActivitiesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConstructionSupportActivitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ConstructionSupportActivitiesMember_lbl" xml:lang="en-US" id="pcyo_ConstructionSupportActivitiesMember_lbl">Reimbursable costs related to construction support activity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionSupportActivitiesMember" xlink:to="pcyo_ConstructionSupportActivitiesMember_lbl" xlink:title="label: ConstructionSupportActivitiesMember to pcyo_ConstructionSupportActivitiesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConstructionSupportActivitiesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ConstructionSupportActivitiesMember_lbl1" xml:lang="en-US" id="pcyo_ConstructionSupportActivitiesMember_lbl1">Construction Support Activities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionSupportActivitiesMember" xlink:to="pcyo_ConstructionSupportActivitiesMember_lbl1" xlink:title="label: ConstructionSupportActivitiesMember to pcyo_ConstructionSupportActivitiesMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentInventoriesPolicyTextBlock" xlink:label="LandDevelopmentInventoriesPolicyTextBlock" xlink:title="LandDevelopmentInventoriesPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl" xml:lang="en-US" id="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl">Disclosure of land development inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentInventoriesPolicyTextBlock" xlink:to="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl" xlink:title="label: LandDevelopmentInventoriesPolicyTextBlock to pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl1" xml:lang="en-US" id="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl1">Land Development Inventories [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentInventoriesPolicyTextBlock" xlink:to="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl1" xlink:title="label: LandDevelopmentInventoriesPolicyTextBlock to pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl2" xml:lang="en-US" id="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl2">Land Development Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentInventoriesPolicyTextBlock" xlink:to="pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl2" xlink:title="label: LandDevelopmentInventoriesPolicyTextBlock to pcyo_LandDevelopmentInventoriesPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractAssetPolicyTextBlock" xlink:label="ContractAssetPolicyTextBlock" xlink:title="ContractAssetPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractAssetPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ContractAssetPolicyTextBlock_lbl" xml:lang="en-US" id="pcyo_ContractAssetPolicyTextBlock_lbl">Disclosure of accounting policy for contract asset.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssetPolicyTextBlock" xlink:to="pcyo_ContractAssetPolicyTextBlock_lbl" xlink:title="label: ContractAssetPolicyTextBlock to pcyo_ContractAssetPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractAssetPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ContractAssetPolicyTextBlock_lbl1" xml:lang="en-US" id="pcyo_ContractAssetPolicyTextBlock_lbl1">Contract Asset [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssetPolicyTextBlock" xlink:to="pcyo_ContractAssetPolicyTextBlock_lbl1" xlink:title="label: ContractAssetPolicyTextBlock to pcyo_ContractAssetPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ContractAssetPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ContractAssetPolicyTextBlock_lbl2" xml:lang="en-US" id="pcyo_ContractAssetPolicyTextBlock_lbl2">Contract Asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssetPolicyTextBlock" xlink:to="pcyo_ContractAssetPolicyTextBlock_lbl2" xlink:title="label: ContractAssetPolicyTextBlock to pcyo_ContractAssetPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:label="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:title="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl" xml:lang="en-US" id="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl">Disclosure of accounting policy for capitalized costs of water and wastewater systems and depletion and depreciation of water assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:to="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl" xlink:title="label: CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock to pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl1" xml:lang="en-US" id="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl1">Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:to="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl1" xlink:title="label: CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock to pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl2" xml:lang="en-US" id="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl2">Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:to="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl2" xlink:title="label: CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock to pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:label="DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:title="DeferredRevenueFromContractWithCustomerPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl" xml:lang="en-US" id="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl">Disclosure of accounting policy for deferred revenue from contract with customer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:to="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl" xlink:title="label: DeferredRevenueFromContractWithCustomerPolicyTextBlock to pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl1" xml:lang="en-US" id="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl1">Deferred Revenue from Contract With Customer [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:to="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl1" xlink:title="label: DeferredRevenueFromContractWithCustomerPolicyTextBlock to pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl2" xml:lang="en-US" id="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl2">Deferred Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:to="pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl2" xlink:title="label: DeferredRevenueFromContractWithCustomerPolicyTextBlock to pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RoyaltyAndOtherObligationsPolicyTextBlock" xlink:label="RoyaltyAndOtherObligationsPolicyTextBlock" xlink:title="RoyaltyAndOtherObligationsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl" xml:lang="en-US" id="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl">Disclosure of accounting policy for royalty and other obligations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyAndOtherObligationsPolicyTextBlock" xlink:to="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl" xlink:title="label: RoyaltyAndOtherObligationsPolicyTextBlock to pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl1" xml:lang="en-US" id="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl1">Royalty and Other Obligations [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyAndOtherObligationsPolicyTextBlock" xlink:to="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl1" xlink:title="label: RoyaltyAndOtherObligationsPolicyTextBlock to pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl2" xml:lang="en-US" id="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl2">Royalty and Other Obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyAndOtherObligationsPolicyTextBlock" xlink:to="pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl2" xlink:title="label: RoyaltyAndOtherObligationsPolicyTextBlock to pcyo_RoyaltyAndOtherObligationsPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:label="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:title="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl" xml:lang="en-US" id="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl">Disclosure of accounting policy for concentration of credit risk and fair value of financial instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:to="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl" xlink:title="label: ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock to pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl1" xml:lang="en-US" id="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl1">Concentration of Credit Risk and Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:to="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl1" xlink:title="label: ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock to pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl2" xml:lang="en-US" id="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl2">Concentration of Credit Risk and Fair Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:to="pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl2" xlink:title="label: ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock to pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:label="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:title="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl1" xml:lang="en-US" id="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl1">Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:to="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl1" xlink:title="label: CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract to pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl2" xml:lang="en-US" id="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl2">Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:to="pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl2" xlink:title="label: CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract to pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:label="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:title="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl" xml:lang="en-US" id="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl">Amount of increase (decrease) from the Sky Ranch Community Authority Board (CAB) reimbursement applied to land development inventories classified as operating activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:to="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl" xlink:title="label: IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories to pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl1" xml:lang="en-US" id="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl1">Increase (Decrease) in Reimbursement Applied to Land Development Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:to="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl1" xlink:title="label: IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories to pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl2" xml:lang="en-US" id="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl2">Proceeds from CAB reimbursement applied to land development inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:to="pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl2" xlink:title="label: IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories to pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInDeferredRevenueLeases" xlink:label="IncreaseDecreaseInDeferredRevenueLeases" xlink:title="IncreaseDecreaseInDeferredRevenueLeases" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl" xml:lang="en-US" id="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl">The increase (decrease) during the reporting period in the obligation created by deferred revenue leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInDeferredRevenueLeases" xlink:to="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl" xlink:title="label: IncreaseDecreaseInDeferredRevenueLeases to pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl1" xml:lang="en-US" id="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl1">Increase (Decrease) in Deferred Revenue, Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInDeferredRevenueLeases" xlink:to="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl1" xlink:title="label: IncreaseDecreaseInDeferredRevenueLeases to pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl2" xml:lang="en-US" id="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl2">Deferred income - oil and gas lease and water sales payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInDeferredRevenueLeases" xlink:to="pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl2" xlink:title="label: IncreaseDecreaseInDeferredRevenueLeases to pcyo_IncreaseDecreaseInDeferredRevenueLeases_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInOperatingLeaseLiabilities" xlink:label="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:title="IncreaseDecreaseInOperatingLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl" xml:lang="en-US" id="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl">The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from operating lease obligations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:to="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl" xlink:title="label: IncreaseDecreaseInOperatingLeaseLiabilities to pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl1" xml:lang="en-US" id="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl1">Increase (Decrease) in Operating Lease Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:to="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl1" xlink:title="label: IncreaseDecreaseInOperatingLeaseLiabilities to pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl2" xml:lang="en-US" id="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl2">Lease obligations - operating leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:to="pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl2" xlink:title="label: IncreaseDecreaseInOperatingLeaseLiabilities to pcyo_IncreaseDecreaseInOperatingLeaseLiabilities_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInLandDevelopmentInventories" xlink:label="IncreaseDecreaseInLandDevelopmentInventories" xlink:title="IncreaseDecreaseInLandDevelopmentInventories" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl" xml:lang="en-US" id="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl">The increase (decrease) during the reporting period in the value of land development inventory, primarily consisting of deposits for land purchases (including option payments), related acquisition costs, and land which is not expected to be developed in the next two years, held by the reporting entity, associated with underlying transactions that are classified as operating activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInLandDevelopmentInventories" xlink:to="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl" xlink:title="label: IncreaseDecreaseInLandDevelopmentInventories to pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl1" xml:lang="en-US" id="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl1">Increase (Decrease) in Land Development Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInLandDevelopmentInventories" xlink:to="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl1" xlink:title="label: IncreaseDecreaseInLandDevelopmentInventories to pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl2" xml:lang="en-US" id="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl2">Land development inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInLandDevelopmentInventories" xlink:to="pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl2" xlink:title="label: IncreaseDecreaseInLandDevelopmentInventories to pcyo_IncreaseDecreaseInLandDevelopmentInventories_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InterestIncomeAndOtherNonCashItems" xlink:label="InterestIncomeAndOtherNonCashItems" xlink:title="InterestIncomeAndOtherNonCashItems" />
    <link:label xlink:type="resource" xlink:label="pcyo_InterestIncomeAndOtherNonCashItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_InterestIncomeAndOtherNonCashItems_lbl" xml:lang="en-US" id="pcyo_InterestIncomeAndOtherNonCashItems_lbl">The amount of interest income and other non-cash income recognized during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeAndOtherNonCashItems" xlink:to="pcyo_InterestIncomeAndOtherNonCashItems_lbl" xlink:title="label: InterestIncomeAndOtherNonCashItems to pcyo_InterestIncomeAndOtherNonCashItems_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_InterestIncomeAndOtherNonCashItems_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_InterestIncomeAndOtherNonCashItems_lbl1" xml:lang="en-US" id="pcyo_InterestIncomeAndOtherNonCashItems_lbl1">Interest Income and Other Non-Cash Items</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeAndOtherNonCashItems" xlink:to="pcyo_InterestIncomeAndOtherNonCashItems_lbl1" xlink:title="label: InterestIncomeAndOtherNonCashItems to pcyo_InterestIncomeAndOtherNonCashItems_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_InterestIncomeAndOtherNonCashItems_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_InterestIncomeAndOtherNonCashItems_lbl2" xml:lang="en-US" id="pcyo_InterestIncomeAndOtherNonCashItems_lbl2">Interest income and other non-cash items</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeAndOtherNonCashItems" xlink:to="pcyo_InterestIncomeAndOtherNonCashItems_lbl2" xlink:title="label: InterestIncomeAndOtherNonCashItems to pcyo_InterestIncomeAndOtherNonCashItems_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsToContingentLiabilityHolders" xlink:label="PaymentsToContingentLiabilityHolders" xlink:title="PaymentsToContingentLiabilityHolders" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsToContingentLiabilityHolders_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PaymentsToContingentLiabilityHolders_lbl" xml:lang="en-US" id="pcyo_PaymentsToContingentLiabilityHolders_lbl">Amount of cash outflow for the payment of export water contingent liability holders during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToContingentLiabilityHolders" xlink:to="pcyo_PaymentsToContingentLiabilityHolders_lbl" xlink:title="label: PaymentsToContingentLiabilityHolders to pcyo_PaymentsToContingentLiabilityHolders_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsToContingentLiabilityHolders_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PaymentsToContingentLiabilityHolders_lbl1" xml:lang="en-US" id="pcyo_PaymentsToContingentLiabilityHolders_lbl1">Payments to Contingent Liability Holders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToContingentLiabilityHolders" xlink:to="pcyo_PaymentsToContingentLiabilityHolders_lbl1" xlink:title="label: PaymentsToContingentLiabilityHolders to pcyo_PaymentsToContingentLiabilityHolders_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsToContingentLiabilityHolders_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_PaymentsToContingentLiabilityHolders_lbl2" xml:lang="en-US" id="pcyo_PaymentsToContingentLiabilityHolders_lbl2">Payments to contingent liability holders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToContingentLiabilityHolders" xlink:to="pcyo_PaymentsToContingentLiabilityHolders_lbl2" xlink:title="label: PaymentsToContingentLiabilityHolders to pcyo_PaymentsToContingentLiabilityHolders_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:label="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:title="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" id="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl">Changes in land development inventories included in accounts payable and accrued liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:to="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl" xlink:title="label: ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities to pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl1" xml:lang="en-US" id="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl1">Changes in Land Development Inventories Included in Accounts Payable and Accrued Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:to="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl1" xlink:title="label: ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities to pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl2" xml:lang="en-US" id="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl2">Changes in Land development inventories included in accounts payable and accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:to="pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl2" xlink:title="label: ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities to pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:label="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:title="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" id="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl">Changes in investments in water, water systems and land included in accounts payable and accrued liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:to="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl" xlink:title="label: ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities to pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl1" xml:lang="en-US" id="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl1">Changes in Investments in Water, Water Systems and Land Included in Accounts Payable and Accrued Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:to="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl1" xlink:title="label: ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities to pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl2" xml:lang="en-US" id="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl2">Changes in Investments in water, water systems and land included in accounts payable and accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:to="pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl2" xlink:title="label: ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities to pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsToAcquireWaterWaterSystemsAndLand" xlink:label="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:title="PaymentsToAcquireWaterWaterSystemsAndLand" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl" xml:lang="en-US" id="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl">The cash outflow associated with the purchase of water, water systems and land.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:to="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl" xlink:title="label: PaymentsToAcquireWaterWaterSystemsAndLand to pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl1" xml:lang="en-US" id="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl1">Payments to Acquire Water, Water Systems and Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:to="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl1" xlink:title="label: PaymentsToAcquireWaterWaterSystemsAndLand to pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl2" xml:lang="en-US" id="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl2">Investments in water, water systems and land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:to="pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl2" xlink:title="label: PaymentsToAcquireWaterWaterSystemsAndLand to pcyo_PaymentsToAcquireWaterWaterSystemsAndLand_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_BisonOilAndGasLlpMember" xlink:label="BisonOilAndGasLlpMember" xlink:title="BisonOilAndGasLlpMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_BisonOilAndGasLlpMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_BisonOilAndGasLlpMember_lbl" xml:lang="en-US" id="pcyo_BisonOilAndGasLlpMember_lbl">The entity leasing the oil &amp; gas property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BisonOilAndGasLlpMember" xlink:to="pcyo_BisonOilAndGasLlpMember_lbl" xlink:title="label: BisonOilAndGasLlpMember to pcyo_BisonOilAndGasLlpMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_BisonOilAndGasLlpMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_BisonOilAndGasLlpMember_lbl1" xml:lang="en-US" id="pcyo_BisonOilAndGasLlpMember_lbl1">Bison Oil and Gas LLP [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BisonOilAndGasLlpMember" xlink:to="pcyo_BisonOilAndGasLlpMember_lbl1" xlink:title="label: BisonOilAndGasLlpMember to pcyo_BisonOilAndGasLlpMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_BisonOilAndGasLlpMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_BisonOilAndGasLlpMember_lbl2" xml:lang="en-US" id="pcyo_BisonOilAndGasLlpMember_lbl2">Bison Oil and Gas, LLP [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BisonOilAndGasLlpMember" xlink:to="pcyo_BisonOilAndGasLlpMember_lbl2" xlink:title="label: BisonOilAndGasLlpMember to pcyo_BisonOilAndGasLlpMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:label="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:title="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl" xml:lang="en-US" id="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl">Number of additional years for which operator may extend lease in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:to="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl" xlink:title="label: NumberOfAdditionalYearsForWhichOperatorMayExtendLease to pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl1" xml:lang="en-US" id="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl1">Number of Additional Years for Which Operator May Extend Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:to="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl1" xlink:title="label: NumberOfAdditionalYearsForWhichOperatorMayExtendLease to pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl2" xml:lang="en-US" id="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl2">Number of additional years for which operator may extend lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:to="pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl2" xlink:title="label: NumberOfAdditionalYearsForWhichOperatorMayExtendLease to pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredRevenueRevenueRecognizedTerm" xlink:label="DeferredRevenueRevenueRecognizedTerm" xlink:title="DeferredRevenueRevenueRecognizedTerm" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl" xml:lang="en-US" id="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl">Period for recognize revenue which reported as deferred or unearned revenue.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueRevenueRecognizedTerm" xlink:to="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl" xlink:title="label: DeferredRevenueRevenueRecognizedTerm to pcyo_DeferredRevenueRevenueRecognizedTerm_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl1" xml:lang="en-US" id="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl1">Deferred Revenue, Revenue Recognized Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueRevenueRecognizedTerm" xlink:to="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl1" xlink:title="label: DeferredRevenueRevenueRecognizedTerm to pcyo_DeferredRevenueRevenueRecognizedTerm_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl2" xml:lang="en-US" id="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl2">Term period of lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRevenueRevenueRecognizedTerm" xlink:to="pcyo_DeferredRevenueRevenueRecognizedTerm_lbl2" xlink:title="label: DeferredRevenueRevenueRecognizedTerm to pcyo_DeferredRevenueRevenueRecognizedTerm_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:label="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:title="RequiredPaymentFromOperatorForExtendingRightForOneYear" />
    <link:label xlink:type="resource" xlink:label="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl" xml:lang="en-US" id="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl">The amount of payment the operator is required to pay to extend the right for one year.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:to="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl" xlink:title="label: RequiredPaymentFromOperatorForExtendingRightForOneYear to pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl1" xml:lang="en-US" id="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl1">Required Payment from Operator for Extending Right for One Year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:to="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl1" xlink:title="label: RequiredPaymentFromOperatorForExtendingRightForOneYear to pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl2" xml:lang="en-US" id="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl2">Required payment from operator for extending right for one year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:to="pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl2" xlink:title="label: RequiredPaymentFromOperatorForExtendingRightForOneYear to pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MaximumTermOfLease" xlink:label="MaximumTermOfLease" xlink:title="MaximumTermOfLease" />
    <link:label xlink:type="resource" xlink:label="pcyo_MaximumTermOfLease_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_MaximumTermOfLease_lbl" xml:lang="en-US" id="pcyo_MaximumTermOfLease_lbl">The maximum term of lease after the additional extending period in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumTermOfLease" xlink:to="pcyo_MaximumTermOfLease_lbl" xlink:title="label: MaximumTermOfLease to pcyo_MaximumTermOfLease_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_MaximumTermOfLease_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_MaximumTermOfLease_lbl1" xml:lang="en-US" id="pcyo_MaximumTermOfLease_lbl1">Maximum Term of Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumTermOfLease" xlink:to="pcyo_MaximumTermOfLease_lbl1" xlink:title="label: MaximumTermOfLease to pcyo_MaximumTermOfLease_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_MaximumTermOfLease_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_MaximumTermOfLease_lbl2" xml:lang="en-US" id="pcyo_MaximumTermOfLease_lbl2">Maximum term of lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumTermOfLease" xlink:to="pcyo_MaximumTermOfLease_lbl2" xlink:title="label: MaximumTermOfLease to pcyo_MaximumTermOfLease_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TermForWhichOperatorMayExtendRight" xlink:label="TermForWhichOperatorMayExtendRight" xlink:title="TermForWhichOperatorMayExtendRight" />
    <link:label xlink:type="resource" xlink:label="pcyo_TermForWhichOperatorMayExtendRight_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_TermForWhichOperatorMayExtendRight_lbl" xml:lang="en-US" id="pcyo_TermForWhichOperatorMayExtendRight_lbl">The term for which operator may extend the right in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermForWhichOperatorMayExtendRight" xlink:to="pcyo_TermForWhichOperatorMayExtendRight_lbl" xlink:title="label: TermForWhichOperatorMayExtendRight to pcyo_TermForWhichOperatorMayExtendRight_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_TermForWhichOperatorMayExtendRight_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_TermForWhichOperatorMayExtendRight_lbl1" xml:lang="en-US" id="pcyo_TermForWhichOperatorMayExtendRight_lbl1">Term for Which Operator May Extend Right</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermForWhichOperatorMayExtendRight" xlink:to="pcyo_TermForWhichOperatorMayExtendRight_lbl1" xlink:title="label: TermForWhichOperatorMayExtendRight to pcyo_TermForWhichOperatorMayExtendRight_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_TermForWhichOperatorMayExtendRight_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_TermForWhichOperatorMayExtendRight_lbl2" xml:lang="en-US" id="pcyo_TermForWhichOperatorMayExtendRight_lbl2">Term for which operator may extend right</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermForWhichOperatorMayExtendRight" xlink:to="pcyo_TermForWhichOperatorMayExtendRight_lbl2" xlink:title="label: TermForWhichOperatorMayExtendRight to pcyo_TermForWhichOperatorMayExtendRight_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAbstract" xlink:label="LandAbstract" xlink:title="LandAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LandAbstract_lbl1" xml:lang="en-US" id="pcyo_LandAbstract_lbl1">Land [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAbstract" xlink:to="pcyo_LandAbstract_lbl1" xlink:title="label: LandAbstract to pcyo_LandAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfIndustrialWaterCustomers" xlink:label="NumberOfIndustrialWaterCustomers" xlink:title="NumberOfIndustrialWaterCustomers" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfIndustrialWaterCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfIndustrialWaterCustomers_lbl" xml:lang="en-US" id="pcyo_NumberOfIndustrialWaterCustomers_lbl">The number of industrial water customers.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfIndustrialWaterCustomers" xlink:to="pcyo_NumberOfIndustrialWaterCustomers_lbl" xlink:title="label: NumberOfIndustrialWaterCustomers to pcyo_NumberOfIndustrialWaterCustomers_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfIndustrialWaterCustomers_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfIndustrialWaterCustomers_lbl1" xml:lang="en-US" id="pcyo_NumberOfIndustrialWaterCustomers_lbl1">Number of Industrial Water Customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfIndustrialWaterCustomers" xlink:to="pcyo_NumberOfIndustrialWaterCustomers_lbl1" xlink:title="label: NumberOfIndustrialWaterCustomers to pcyo_NumberOfIndustrialWaterCustomers_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfIndustrialWaterCustomers_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfIndustrialWaterCustomers_lbl2" xml:lang="en-US" id="pcyo_NumberOfIndustrialWaterCustomers_lbl2">Number of industrial water customer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfIndustrialWaterCustomers" xlink:to="pcyo_NumberOfIndustrialWaterCustomers_lbl2" xlink:title="label: NumberOfIndustrialWaterCustomers to pcyo_NumberOfIndustrialWaterCustomers_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OAndGLeaseMember" xlink:label="OAndGLeaseMember" xlink:title="OAndGLeaseMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_OAndGLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_OAndGLeaseMember_lbl" xml:lang="en-US" id="pcyo_OAndGLeaseMember_lbl">Name of lease with the operator.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OAndGLeaseMember" xlink:to="pcyo_OAndGLeaseMember_lbl" xlink:title="label: OAndGLeaseMember to pcyo_OAndGLeaseMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_OAndGLeaseMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_OAndGLeaseMember_lbl1" xml:lang="en-US" id="pcyo_OAndGLeaseMember_lbl1">O and G Lease [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OAndGLeaseMember" xlink:to="pcyo_OAndGLeaseMember_lbl1" xlink:title="label: OAndGLeaseMember to pcyo_OAndGLeaseMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_OAndGLeaseMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_OAndGLeaseMember_lbl2" xml:lang="en-US" id="pcyo_OAndGLeaseMember_lbl2">OGOA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OAndGLeaseMember" xlink:to="pcyo_OAndGLeaseMember_lbl2" xlink:title="label: OAndGLeaseMember to pcyo_OAndGLeaseMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:label="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:title="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl" xml:lang="en-US" id="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl">Number of producing oil wells and oil wells capable of production representing summation of fractional ownership working interest to whole expected to be placed in service.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:to="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl" xlink:title="label: ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService to pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl1" xml:lang="en-US" id="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl1">Productive Oil Wells Number Of Wells Expected to be Placed in service</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:to="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl1" xlink:title="label: ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService to pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl2" xml:lang="en-US" id="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl2">Productive oil wells number of wells expected to be placed in service</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:to="pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl2" xlink:title="label: ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService to pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OilAndGasLeasePaymentsAbstract" xlink:label="OilAndGasLeasePaymentsAbstract" xlink:title="OilAndGasLeasePaymentsAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_OilAndGasLeasePaymentsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_OilAndGasLeasePaymentsAbstract_lbl1" xml:lang="en-US" id="pcyo_OilAndGasLeasePaymentsAbstract_lbl1">Oil and Gas Lease Payments [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OilAndGasLeasePaymentsAbstract" xlink:to="pcyo_OilAndGasLeasePaymentsAbstract_lbl1" xlink:title="label: OilAndGasLeasePaymentsAbstract to pcyo_OilAndGasLeasePaymentsAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_OilAndGasLeasePaymentsAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_OilAndGasLeasePaymentsAbstract_lbl2" xml:lang="en-US" id="pcyo_OilAndGasLeasePaymentsAbstract_lbl2">Oil and Gas Lease Payments [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OilAndGasLeasePaymentsAbstract" xlink:to="pcyo_OilAndGasLeasePaymentsAbstract_lbl2" xlink:title="label: OilAndGasLeasePaymentsAbstract to pcyo_OilAndGasLeasePaymentsAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaycheckProtectionProgramLoanMember" xlink:label="PaycheckProtectionProgramLoanMember" xlink:title="PaycheckProtectionProgramLoanMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaycheckProtectionProgramLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PaycheckProtectionProgramLoanMember_lbl" xml:lang="en-US" id="pcyo_PaycheckProtectionProgramLoanMember_lbl">Loans authorized under the Coronavirus Aid, Relief and Economic Security Act, Section 7(a)(36) of the Small Business Act (the "CARES Act") to provide forgivable loans to small businesses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaycheckProtectionProgramLoanMember" xlink:to="pcyo_PaycheckProtectionProgramLoanMember_lbl" xlink:title="label: PaycheckProtectionProgramLoanMember to pcyo_PaycheckProtectionProgramLoanMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaycheckProtectionProgramLoanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PaycheckProtectionProgramLoanMember_lbl1" xml:lang="en-US" id="pcyo_PaycheckProtectionProgramLoanMember_lbl1">Paycheck Protection Program Loan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaycheckProtectionProgramLoanMember" xlink:to="pcyo_PaycheckProtectionProgramLoanMember_lbl1" xlink:title="label: PaycheckProtectionProgramLoanMember to pcyo_PaycheckProtectionProgramLoanMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PaycheckProtectionProgramLoanMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PaycheckProtectionProgramLoanMember_lbl2" xml:lang="en-US" id="pcyo_PaycheckProtectionProgramLoanMember_lbl2">PPP Loan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaycheckProtectionProgramLoanMember" xlink:to="pcyo_PaycheckProtectionProgramLoanMember_lbl2" xlink:title="label: PaycheckProtectionProgramLoanMember to pcyo_PaycheckProtectionProgramLoanMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ScheduleOfReimbursableCostsTableTextBlock" xlink:label="ScheduleOfReimbursableCostsTableTextBlock" xlink:title="ScheduleOfReimbursableCostsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl" xml:lang="en-US" id="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl">Tabular disclosure of reimbursable costs incurred to date, payments made outstanding reimbursable amounts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfReimbursableCostsTableTextBlock" xlink:to="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl" xlink:title="label: ScheduleOfReimbursableCostsTableTextBlock to pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl1" xml:lang="en-US" id="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl1">Schedule of Reimbursable Costs [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfReimbursableCostsTableTextBlock" xlink:to="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl1" xlink:title="label: ScheduleOfReimbursableCostsTableTextBlock to pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl2" xml:lang="en-US" id="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl2">Reimbursable Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfReimbursableCostsTableTextBlock" xlink:to="pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl2" xlink:title="label: ScheduleOfReimbursableCostsTableTextBlock to pcyo_ScheduleOfReimbursableCostsTableTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FacilitiesFundingAndAcquisitionAgreementMember" xlink:label="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="FacilitiesFundingAndAcquisitionAgreementMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl" xml:lang="en-US" id="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl">The Facilities Funding and Acquisition Agreement (FFAA), entered into on September 18, 2018, with an effective date of November 13, 2017, which supersedes and consolidates the previous funding agreements between the Company and the Sky Ranch Community Authority Board (CAB) and the Company and Sky Ranch Metropolitan District No. 5.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FacilitiesFundingAndAcquisitionAgreementMember" xlink:to="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl" xlink:title="label: FacilitiesFundingAndAcquisitionAgreementMember to pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl1" xml:lang="en-US" id="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl1">Facilities Funding and Acquisition Agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FacilitiesFundingAndAcquisitionAgreementMember" xlink:to="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl1" xlink:title="label: FacilitiesFundingAndAcquisitionAgreementMember to pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl2" xml:lang="en-US" id="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl2">Facilities Funding and Acquisition Agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FacilitiesFundingAndAcquisitionAgreementMember" xlink:to="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl2" xlink:title="label: FacilitiesFundingAndAcquisitionAgreementMember to pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl3" xml:lang="en-US" id="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl3">FFAA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FacilitiesFundingAndAcquisitionAgreementMember" xlink:to="pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl3" xlink:title="label: FacilitiesFundingAndAcquisitionAgreementMember to pcyo_FacilitiesFundingAndAcquisitionAgreementMember_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CommunityAuthorityBoardMember" xlink:label="CommunityAuthorityBoardMember" xlink:title="CommunityAuthorityBoardMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_CommunityAuthorityBoardMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_CommunityAuthorityBoardMember_lbl" xml:lang="en-US" id="pcyo_CommunityAuthorityBoardMember_lbl">The community authority board.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommunityAuthorityBoardMember" xlink:to="pcyo_CommunityAuthorityBoardMember_lbl" xlink:title="label: CommunityAuthorityBoardMember to pcyo_CommunityAuthorityBoardMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_CommunityAuthorityBoardMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_CommunityAuthorityBoardMember_lbl1" xml:lang="en-US" id="pcyo_CommunityAuthorityBoardMember_lbl1">Community Authority Board [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommunityAuthorityBoardMember" xlink:to="pcyo_CommunityAuthorityBoardMember_lbl1" xlink:title="label: CommunityAuthorityBoardMember to pcyo_CommunityAuthorityBoardMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_CommunityAuthorityBoardMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_CommunityAuthorityBoardMember_lbl2" xml:lang="en-US" id="pcyo_CommunityAuthorityBoardMember_lbl2">Sky Ranch Community Authority Board [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommunityAuthorityBoardMember" xlink:to="pcyo_CommunityAuthorityBoardMember_lbl2" xlink:title="label: CommunityAuthorityBoardMember to pcyo_CommunityAuthorityBoardMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyEstimatedCost" xlink:label="RelatedPartyEstimatedCost" xlink:title="RelatedPartyEstimatedCost" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyEstimatedCost_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RelatedPartyEstimatedCost_lbl" xml:lang="en-US" id="pcyo_RelatedPartyEstimatedCost_lbl">Amount of estimated cost for improvements for Sky Ranch with respect to earthwork, erosion control, streets, drainage and landscaping.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyEstimatedCost" xlink:to="pcyo_RelatedPartyEstimatedCost_lbl" xlink:title="label: RelatedPartyEstimatedCost to pcyo_RelatedPartyEstimatedCost_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyEstimatedCost_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RelatedPartyEstimatedCost_lbl1" xml:lang="en-US" id="pcyo_RelatedPartyEstimatedCost_lbl1">Related Party Estimated Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyEstimatedCost" xlink:to="pcyo_RelatedPartyEstimatedCost_lbl1" xlink:title="label: RelatedPartyEstimatedCost to pcyo_RelatedPartyEstimatedCost_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyEstimatedCost_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RelatedPartyEstimatedCost_lbl2" xml:lang="en-US" id="pcyo_RelatedPartyEstimatedCost_lbl2">Estimated cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyEstimatedCost" xlink:to="pcyo_RelatedPartyEstimatedCost_lbl2" xlink:title="label: RelatedPartyEstimatedCost to pcyo_RelatedPartyEstimatedCost_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_VolumeOfWaterPurchased" xlink:label="VolumeOfWaterPurchased" xlink:title="VolumeOfWaterPurchased" />
    <link:label xlink:type="resource" xlink:label="pcyo_VolumeOfWaterPurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_VolumeOfWaterPurchased_lbl" xml:lang="en-US" id="pcyo_VolumeOfWaterPurchased_lbl">The volume of surface water and groundwater rights purchased, along with certain storage rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VolumeOfWaterPurchased" xlink:to="pcyo_VolumeOfWaterPurchased_lbl" xlink:title="label: VolumeOfWaterPurchased to pcyo_VolumeOfWaterPurchased_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_VolumeOfWaterPurchased_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_VolumeOfWaterPurchased_lbl1" xml:lang="en-US" id="pcyo_VolumeOfWaterPurchased_lbl1">Volume of Water Purchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VolumeOfWaterPurchased" xlink:to="pcyo_VolumeOfWaterPurchased_lbl1" xlink:title="label: VolumeOfWaterPurchased to pcyo_VolumeOfWaterPurchased_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_VolumeOfWaterPurchased_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_VolumeOfWaterPurchased_lbl2" xml:lang="en-US" id="pcyo_VolumeOfWaterPurchased_lbl2">Volume of water purchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VolumeOfWaterPurchased" xlink:to="pcyo_VolumeOfWaterPurchased_lbl2" xlink:title="label: VolumeOfWaterPurchased to pcyo_VolumeOfWaterPurchased_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NotesReceivableRelatedPartiesAccruedInterest" xlink:label="NotesReceivableRelatedPartiesAccruedInterest" xlink:title="NotesReceivableRelatedPartiesAccruedInterest" />
    <link:label xlink:type="resource" xlink:label="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl" xml:lang="en-US" id="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl">For an unclassified balance sheet, accrued interest amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedPartiesAccruedInterest" xlink:to="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl" xlink:title="label: NotesReceivableRelatedPartiesAccruedInterest to pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl1" xml:lang="en-US" id="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl1">Notes Receivable, Related Parties, Accrued Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedPartiesAccruedInterest" xlink:to="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl1" xlink:title="label: NotesReceivableRelatedPartiesAccruedInterest to pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl2" xml:lang="en-US" id="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl2">Notes receivable, accrued interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedPartiesAccruedInterest" xlink:to="pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl2" xlink:title="label: NotesReceivableRelatedPartiesAccruedInterest to pcyo_NotesReceivableRelatedPartiesAccruedInterest_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NotesReceivableRelatedPartiesPrincipal" xlink:label="NotesReceivableRelatedPartiesPrincipal" xlink:title="NotesReceivableRelatedPartiesPrincipal" />
    <link:label xlink:type="resource" xlink:label="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl" xml:lang="en-US" id="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl">For an unclassified balance sheet, principal amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedPartiesPrincipal" xlink:to="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl" xlink:title="label: NotesReceivableRelatedPartiesPrincipal to pcyo_NotesReceivableRelatedPartiesPrincipal_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl1" xml:lang="en-US" id="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl1">Notes Receivable, Related Parties, Principal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedPartiesPrincipal" xlink:to="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl1" xlink:title="label: NotesReceivableRelatedPartiesPrincipal to pcyo_NotesReceivableRelatedPartiesPrincipal_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl2" xml:lang="en-US" id="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl2">Notes receivable, principal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableRelatedPartiesPrincipal" xlink:to="pcyo_NotesReceivableRelatedPartiesPrincipal_lbl2" xlink:title="label: NotesReceivableRelatedPartiesPrincipal to pcyo_NotesReceivableRelatedPartiesPrincipal_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:label="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="PeriodOfFinancingOfPartnershipParticipationAgreement" />
    <link:label xlink:type="resource" xlink:label="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl" xml:lang="en-US" id="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl">The period of financing of the partnership participation agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:to="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl" xlink:title="label: PeriodOfFinancingOfPartnershipParticipationAgreement to pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl1" xml:lang="en-US" id="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl1">Period of financing of Partnership Participation Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:to="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl1" xlink:title="label: PeriodOfFinancingOfPartnershipParticipationAgreement to pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl2" xml:lang="en-US" id="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl2">Projected financing period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:to="pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl2" xlink:title="label: PeriodOfFinancingOfPartnershipParticipationAgreement to pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl">The amount of advances for improvements, excluding interest, net of costs reimbursed to the Sky Ranch Community Authority Board (the "CAB"), included in land development inventories.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl1" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl1">Related Party, Advances for Improvements, Net of Reimbursed Costs, Included in Land Development Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl1" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl2" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl2">Advances included in land development inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl2" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DebtInstrumentRenewalTerm" xlink:label="DebtInstrumentRenewalTerm" xlink:title="DebtInstrumentRenewalTerm" />
    <link:label xlink:type="resource" xlink:label="pcyo_DebtInstrumentRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_DebtInstrumentRenewalTerm_lbl" xml:lang="en-US" id="pcyo_DebtInstrumentRenewalTerm_lbl">Term of renewal for debt instrument, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentRenewalTerm" xlink:to="pcyo_DebtInstrumentRenewalTerm_lbl" xlink:title="label: DebtInstrumentRenewalTerm to pcyo_DebtInstrumentRenewalTerm_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_DebtInstrumentRenewalTerm_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_DebtInstrumentRenewalTerm_lbl1" xml:lang="en-US" id="pcyo_DebtInstrumentRenewalTerm_lbl1">Debt Instrument, Renewal Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentRenewalTerm" xlink:to="pcyo_DebtInstrumentRenewalTerm_lbl1" xlink:title="label: DebtInstrumentRenewalTerm to pcyo_DebtInstrumentRenewalTerm_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_DebtInstrumentRenewalTerm_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_DebtInstrumentRenewalTerm_lbl2" xml:lang="en-US" id="pcyo_DebtInstrumentRenewalTerm_lbl2">Renewal term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentRenewalTerm" xlink:to="pcyo_DebtInstrumentRenewalTerm_lbl2" xlink:title="label: DebtInstrumentRenewalTerm to pcyo_DebtInstrumentRenewalTerm_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl">The amount of advances for improvements, excluding interest, net of costs reimbursed to the Sky Ranch Community Authority Board (the "CAB"), expensed through land development construction costs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl1" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl1">Related Party, Advances for Improvements, Net of Reimbursed Costs, Expensed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl1" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl2" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl2">Advances expensed through land development construction costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl2" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectedCostOfParticipationAgreement" xlink:label="ProjectedCostOfParticipationAgreement" xlink:title="ProjectedCostOfParticipationAgreement" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectedCostOfParticipationAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ProjectedCostOfParticipationAgreement_lbl" xml:lang="en-US" id="pcyo_ProjectedCostOfParticipationAgreement_lbl">The amount of project cost of the partnership participation agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectedCostOfParticipationAgreement" xlink:to="pcyo_ProjectedCostOfParticipationAgreement_lbl" xlink:title="label: ProjectedCostOfParticipationAgreement to pcyo_ProjectedCostOfParticipationAgreement_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectedCostOfParticipationAgreement_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ProjectedCostOfParticipationAgreement_lbl1" xml:lang="en-US" id="pcyo_ProjectedCostOfParticipationAgreement_lbl1">Projected Cost of Participation Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectedCostOfParticipationAgreement" xlink:to="pcyo_ProjectedCostOfParticipationAgreement_lbl1" xlink:title="label: ProjectedCostOfParticipationAgreement to pcyo_ProjectedCostOfParticipationAgreement_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ProjectedCostOfParticipationAgreement_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ProjectedCostOfParticipationAgreement_lbl2" xml:lang="en-US" id="pcyo_ProjectedCostOfParticipationAgreement_lbl2">Projected cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectedCostOfParticipationAgreement" xlink:to="pcyo_ProjectedCostOfParticipationAgreement_lbl2" xlink:title="label: ProjectedCostOfParticipationAgreement to pcyo_ProjectedCostOfParticipationAgreement_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfEmployeeBoardOfDirectors" xlink:label="NumberOfEmployeeBoardOfDirectors" xlink:title="NumberOfEmployeeBoardOfDirectors" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfEmployeeBoardOfDirectors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfEmployeeBoardOfDirectors_lbl" xml:lang="en-US" id="pcyo_NumberOfEmployeeBoardOfDirectors_lbl">Number of employees who are members of the board of directors.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEmployeeBoardOfDirectors" xlink:to="pcyo_NumberOfEmployeeBoardOfDirectors_lbl" xlink:title="label: NumberOfEmployeeBoardOfDirectors to pcyo_NumberOfEmployeeBoardOfDirectors_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfEmployeeBoardOfDirectors_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfEmployeeBoardOfDirectors_lbl1" xml:lang="en-US" id="pcyo_NumberOfEmployeeBoardOfDirectors_lbl1">Number of Employee Board of Directors</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEmployeeBoardOfDirectors" xlink:to="pcyo_NumberOfEmployeeBoardOfDirectors_lbl1" xlink:title="label: NumberOfEmployeeBoardOfDirectors to pcyo_NumberOfEmployeeBoardOfDirectors_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfEmployeeBoardOfDirectors_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfEmployeeBoardOfDirectors_lbl2" xml:lang="en-US" id="pcyo_NumberOfEmployeeBoardOfDirectors_lbl2">Number of employee board of directors</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEmployeeBoardOfDirectors" xlink:to="pcyo_NumberOfEmployeeBoardOfDirectors_lbl2" xlink:title="label: NumberOfEmployeeBoardOfDirectors to pcyo_NumberOfEmployeeBoardOfDirectors_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl">The amount of advances for improvements, excluding interest, net of costs reimbursed to the Sky Ranch Community Authority Board (the "CAB").</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl1" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl1">Related Party, Advances for Improvements, Net of Reimbursed Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl1" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl2" xml:lang="en-US" id="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl2">Advances, net of reimbursed costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:to="pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl2" xlink:title="label: RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts to pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfIndependentBoardOfDirectors" xlink:label="NumberOfIndependentBoardOfDirectors" xlink:title="NumberOfIndependentBoardOfDirectors" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfIndependentBoardOfDirectors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfIndependentBoardOfDirectors_lbl" xml:lang="en-US" id="pcyo_NumberOfIndependentBoardOfDirectors_lbl">Number of independent board who are members of the board of directors.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfIndependentBoardOfDirectors" xlink:to="pcyo_NumberOfIndependentBoardOfDirectors_lbl" xlink:title="label: NumberOfIndependentBoardOfDirectors to pcyo_NumberOfIndependentBoardOfDirectors_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfIndependentBoardOfDirectors_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfIndependentBoardOfDirectors_lbl1" xml:lang="en-US" id="pcyo_NumberOfIndependentBoardOfDirectors_lbl1">Number of Independent Board of Directors</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfIndependentBoardOfDirectors" xlink:to="pcyo_NumberOfIndependentBoardOfDirectors_lbl1" xlink:title="label: NumberOfIndependentBoardOfDirectors to pcyo_NumberOfIndependentBoardOfDirectors_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfIndependentBoardOfDirectors_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfIndependentBoardOfDirectors_lbl2" xml:lang="en-US" id="pcyo_NumberOfIndependentBoardOfDirectors_lbl2">Number of independent board of directors</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfIndependentBoardOfDirectors" xlink:to="pcyo_NumberOfIndependentBoardOfDirectors_lbl2" xlink:title="label: NumberOfIndependentBoardOfDirectors to pcyo_NumberOfIndependentBoardOfDirectors_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LoanExtendedMaximumCapacity" xlink:label="LoanExtendedMaximumCapacity" xlink:title="LoanExtendedMaximumCapacity" />
    <link:label xlink:type="resource" xlink:label="pcyo_LoanExtendedMaximumCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LoanExtendedMaximumCapacity_lbl" xml:lang="en-US" id="pcyo_LoanExtendedMaximumCapacity_lbl">Maximum capacity that may be utilized as part of the loan extended as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanExtendedMaximumCapacity" xlink:to="pcyo_LoanExtendedMaximumCapacity_lbl" xlink:title="label: LoanExtendedMaximumCapacity to pcyo_LoanExtendedMaximumCapacity_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LoanExtendedMaximumCapacity_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LoanExtendedMaximumCapacity_lbl1" xml:lang="en-US" id="pcyo_LoanExtendedMaximumCapacity_lbl1">Loan extended, Maximum Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanExtendedMaximumCapacity" xlink:to="pcyo_LoanExtendedMaximumCapacity_lbl1" xlink:title="label: LoanExtendedMaximumCapacity to pcyo_LoanExtendedMaximumCapacity_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LoanExtendedMaximumCapacity_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LoanExtendedMaximumCapacity_lbl2" xml:lang="en-US" id="pcyo_LoanExtendedMaximumCapacity_lbl2">Loan extended, maximum capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanExtendedMaximumCapacity" xlink:to="pcyo_LoanExtendedMaximumCapacity_lbl2" xlink:title="label: LoanExtendedMaximumCapacity to pcyo_LoanExtendedMaximumCapacity_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchMember" xlink:label="SkyRanchMember" xlink:title="SkyRanchMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_SkyRanchMember_lbl" xml:lang="en-US" id="pcyo_SkyRanchMember_lbl">Quasi-municipal corporations and political subdivisions of Colorado formed for the purpose of providing service to the Company's Sky Ranch property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchMember" xlink:to="pcyo_SkyRanchMember_lbl" xlink:title="label: SkyRanchMember to pcyo_SkyRanchMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_SkyRanchMember_lbl1" xml:lang="en-US" id="pcyo_SkyRanchMember_lbl1">Sky Ranch [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchMember" xlink:to="pcyo_SkyRanchMember_lbl1" xlink:title="label: SkyRanchMember to pcyo_SkyRanchMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_SkyRanchMember_lbl2" xml:lang="en-US" id="pcyo_SkyRanchMember_lbl2">Sky Ranch District [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchMember" xlink:to="pcyo_SkyRanchMember_lbl2" xlink:title="label: SkyRanchMember to pcyo_SkyRanchMember_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchMember_lbl3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_SkyRanchMember_lbl3" xml:lang="en-US" id="pcyo_SkyRanchMember_lbl3">Sky Ranch [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchMember" xlink:to="pcyo_SkyRanchMember_lbl3" xlink:title="label: SkyRanchMember to pcyo_SkyRanchMember_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WisePartnershipMember" xlink:label="WisePartnershipMember" xlink:title="WisePartnershipMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WisePartnershipMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WisePartnershipMember_lbl" xml:lang="en-US" id="pcyo_WisePartnershipMember_lbl">Partnership Agreement which provides right to purchase of certain infrastructure (i.e., pipelines, water storage facilities, water treatment facilities, and other appurtenant facilities) to deliver water.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WisePartnershipMember" xlink:to="pcyo_WisePartnershipMember_lbl" xlink:title="label: WisePartnershipMember to pcyo_WisePartnershipMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WisePartnershipMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WisePartnershipMember_lbl1" xml:lang="en-US" id="pcyo_WisePartnershipMember_lbl1">WISE Partnership [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WisePartnershipMember" xlink:to="pcyo_WisePartnershipMember_lbl1" xlink:title="label: WisePartnershipMember to pcyo_WisePartnershipMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WisePartnershipMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WisePartnershipMember_lbl2" xml:lang="en-US" id="pcyo_WisePartnershipMember_lbl2">WISE Partnership [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WisePartnershipMember" xlink:to="pcyo_WisePartnershipMember_lbl2" xlink:title="label: WisePartnershipMember to pcyo_WisePartnershipMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterServicesMember" xlink:label="WaterAndWastewaterServicesMember" xlink:title="WaterAndWastewaterServicesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterAndWastewaterServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WaterAndWastewaterServicesMember_lbl" xml:lang="en-US" id="pcyo_WaterAndWastewaterServicesMember_lbl">The services related to water and wastewater treatment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterAndWastewaterServicesMember" xlink:to="pcyo_WaterAndWastewaterServicesMember_lbl" xlink:title="label: WaterAndWastewaterServicesMember to pcyo_WaterAndWastewaterServicesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterAndWastewaterServicesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WaterAndWastewaterServicesMember_lbl1" xml:lang="en-US" id="pcyo_WaterAndWastewaterServicesMember_lbl1">Water and Wastewater Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterAndWastewaterServicesMember" xlink:to="pcyo_WaterAndWastewaterServicesMember_lbl1" xlink:title="label: WaterAndWastewaterServicesMember to pcyo_WaterAndWastewaterServicesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterAndWastewaterServicesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WaterAndWastewaterServicesMember_lbl2" xml:lang="en-US" id="pcyo_WaterAndWastewaterServicesMember_lbl2">Water and Wastewater Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterAndWastewaterServicesMember" xlink:to="pcyo_WaterAndWastewaterServicesMember_lbl2" xlink:title="label: WaterAndWastewaterServicesMember to pcyo_WaterAndWastewaterServicesMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PayablesForInfrastructureCapitalProjects" xlink:label="PayablesForInfrastructureCapitalProjects" xlink:title="PayablesForInfrastructureCapitalProjects" />
    <link:label xlink:type="resource" xlink:label="pcyo_PayablesForInfrastructureCapitalProjects_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PayablesForInfrastructureCapitalProjects_lbl" xml:lang="en-US" id="pcyo_PayablesForInfrastructureCapitalProjects_lbl">Amount of expenses incurred for water infrastructure capital project but not yet paid, due within one year or the normal operating cycle, if longer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesForInfrastructureCapitalProjects" xlink:to="pcyo_PayablesForInfrastructureCapitalProjects_lbl" xlink:title="label: PayablesForInfrastructureCapitalProjects to pcyo_PayablesForInfrastructureCapitalProjects_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PayablesForInfrastructureCapitalProjects_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PayablesForInfrastructureCapitalProjects_lbl1" xml:lang="en-US" id="pcyo_PayablesForInfrastructureCapitalProjects_lbl1">Payables For Infrastructure Capital Projects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesForInfrastructureCapitalProjects" xlink:to="pcyo_PayablesForInfrastructureCapitalProjects_lbl1" xlink:title="label: PayablesForInfrastructureCapitalProjects to pcyo_PayablesForInfrastructureCapitalProjects_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PayablesForInfrastructureCapitalProjects_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PayablesForInfrastructureCapitalProjects_lbl2" xml:lang="en-US" id="pcyo_PayablesForInfrastructureCapitalProjects_lbl2">Payables for infrastructure capital projects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesForInfrastructureCapitalProjects" xlink:to="pcyo_PayablesForInfrastructureCapitalProjects_lbl2" xlink:title="label: PayablesForInfrastructureCapitalProjects to pcyo_PayablesForInfrastructureCapitalProjects_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageOilAndGasMember" xlink:label="MeteredWaterUsageOilAndGasMember" xlink:title="MeteredWaterUsageOilAndGasMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_MeteredWaterUsageOilAndGasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_MeteredWaterUsageOilAndGasMember_lbl" xml:lang="en-US" id="pcyo_MeteredWaterUsageOilAndGasMember_lbl">Wholesale water usage revenues upon delivering oil and gas to its customers or its governmental customer's end-use customers, as applicable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeteredWaterUsageOilAndGasMember" xlink:to="pcyo_MeteredWaterUsageOilAndGasMember_lbl" xlink:title="label: MeteredWaterUsageOilAndGasMember to pcyo_MeteredWaterUsageOilAndGasMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_MeteredWaterUsageOilAndGasMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_MeteredWaterUsageOilAndGasMember_lbl1" xml:lang="en-US" id="pcyo_MeteredWaterUsageOilAndGasMember_lbl1">Metered Water Usage - Oil and Gas [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeteredWaterUsageOilAndGasMember" xlink:to="pcyo_MeteredWaterUsageOilAndGasMember_lbl1" xlink:title="label: MeteredWaterUsageOilAndGasMember to pcyo_MeteredWaterUsageOilAndGasMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_MeteredWaterUsageOilAndGasMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_MeteredWaterUsageOilAndGasMember_lbl2" xml:lang="en-US" id="pcyo_MeteredWaterUsageOilAndGasMember_lbl2">Metered Water Usage - Oil and Gas [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeteredWaterUsageOilAndGasMember" xlink:to="pcyo_MeteredWaterUsageOilAndGasMember_lbl2" xlink:title="label: MeteredWaterUsageOilAndGasMember to pcyo_MeteredWaterUsageOilAndGasMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursementOfConstructionCostsRelatedParty" xlink:label="ReimbursementOfConstructionCostsRelatedParty" xlink:title="ReimbursementOfConstructionCostsRelatedParty" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl" xml:lang="en-US" id="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl">The amount of income recognized from a related party for the reimbursement of construction costs in excess of actual expenses incurred by the Company for the cost of public improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursementOfConstructionCostsRelatedParty" xlink:to="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl" xlink:title="label: ReimbursementOfConstructionCostsRelatedParty to pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl1" xml:lang="en-US" id="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl1">Reimbursement of Construction Costs, Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursementOfConstructionCostsRelatedParty" xlink:to="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl1" xlink:title="label: ReimbursementOfConstructionCostsRelatedParty to pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl2" xml:lang="en-US" id="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl2">Reimbursement of construction costs - related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursementOfConstructionCostsRelatedParty" xlink:to="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl2" xlink:title="label: ReimbursementOfConstructionCostsRelatedParty to pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl3" xml:lang="en-US" id="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl3">Reimbursement of construction costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursementOfConstructionCostsRelatedParty" xlink:to="pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl3" xlink:title="label: ReimbursementOfConstructionCostsRelatedParty to pcyo_ReimbursementOfConstructionCostsRelatedParty_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesMember" xlink:label="LotSalesMember" xlink:title="LotSalesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LotSalesMember_lbl" xml:lang="en-US" id="pcyo_LotSalesMember_lbl">Revenue derived from lot sales.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesMember" xlink:to="pcyo_LotSalesMember_lbl" xlink:title="label: LotSalesMember to pcyo_LotSalesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LotSalesMember_lbl1" xml:lang="en-US" id="pcyo_LotSalesMember_lbl1">Lot Sales [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesMember" xlink:to="pcyo_LotSalesMember_lbl1" xlink:title="label: LotSalesMember to pcyo_LotSalesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LotSalesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LotSalesMember_lbl2" xml:lang="en-US" id="pcyo_LotSalesMember_lbl2">Lot Sales [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LotSalesMember" xlink:to="pcyo_LotSalesMember_lbl2" xlink:title="label: LotSalesMember to pcyo_LotSalesMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterServiceOperationsExpense" xlink:label="WaterServiceOperationsExpense" xlink:title="WaterServiceOperationsExpense" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterServiceOperationsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WaterServiceOperationsExpense_lbl" xml:lang="en-US" id="pcyo_WaterServiceOperationsExpense_lbl">Cost incurred related to water service operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterServiceOperationsExpense" xlink:to="pcyo_WaterServiceOperationsExpense_lbl" xlink:title="label: WaterServiceOperationsExpense to pcyo_WaterServiceOperationsExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterServiceOperationsExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WaterServiceOperationsExpense_lbl1" xml:lang="en-US" id="pcyo_WaterServiceOperationsExpense_lbl1">Water Service Operations Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterServiceOperationsExpense" xlink:to="pcyo_WaterServiceOperationsExpense_lbl1" xlink:title="label: WaterServiceOperationsExpense to pcyo_WaterServiceOperationsExpense_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterServiceOperationsExpense_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_WaterServiceOperationsExpense_lbl2" xml:lang="en-US" id="pcyo_WaterServiceOperationsExpense_lbl2">Water service operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterServiceOperationsExpense" xlink:to="pcyo_WaterServiceOperationsExpense_lbl2" xlink:title="label: WaterServiceOperationsExpense to pcyo_WaterServiceOperationsExpense_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterTapFeesMember" xlink:label="WaterAndWastewaterTapFeesMember" xlink:title="WaterAndWastewaterTapFeesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterAndWastewaterTapFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WaterAndWastewaterTapFeesMember_lbl" xml:lang="en-US" id="pcyo_WaterAndWastewaterTapFeesMember_lbl">A tap fee constitutes a right to connect to the Company's wholesale water and wastewater systems through a service line to a residential or commercial building or property, and once granted, the customer may make a physical tap into the wholesale line(s) to connect its property for water and/or wastewater service.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterAndWastewaterTapFeesMember" xlink:to="pcyo_WaterAndWastewaterTapFeesMember_lbl" xlink:title="label: WaterAndWastewaterTapFeesMember to pcyo_WaterAndWastewaterTapFeesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterAndWastewaterTapFeesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WaterAndWastewaterTapFeesMember_lbl1" xml:lang="en-US" id="pcyo_WaterAndWastewaterTapFeesMember_lbl1">Water and Wastewater Tap Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterAndWastewaterTapFeesMember" xlink:to="pcyo_WaterAndWastewaterTapFeesMember_lbl1" xlink:title="label: WaterAndWastewaterTapFeesMember to pcyo_WaterAndWastewaterTapFeesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WaterAndWastewaterTapFeesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WaterAndWastewaterTapFeesMember_lbl2" xml:lang="en-US" id="pcyo_WaterAndWastewaterTapFeesMember_lbl2">Water and Wastewater Tap Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaterAndWastewaterTapFeesMember" xlink:to="pcyo_WaterAndWastewaterTapFeesMember_lbl2" xlink:title="label: WaterAndWastewaterTapFeesMember to pcyo_WaterAndWastewaterTapFeesMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterTreatmentFeesMember" xlink:label="WastewaterTreatmentFeesMember" xlink:title="WastewaterTreatmentFeesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterTreatmentFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WastewaterTreatmentFeesMember_lbl" xml:lang="en-US" id="pcyo_WastewaterTreatmentFeesMember_lbl">Wastewater monthly treatment fees based on usage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterTreatmentFeesMember" xlink:to="pcyo_WastewaterTreatmentFeesMember_lbl" xlink:title="label: WastewaterTreatmentFeesMember to pcyo_WastewaterTreatmentFeesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterTreatmentFeesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WastewaterTreatmentFeesMember_lbl1" xml:lang="en-US" id="pcyo_WastewaterTreatmentFeesMember_lbl1">Wastewater Treatment Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterTreatmentFeesMember" xlink:to="pcyo_WastewaterTreatmentFeesMember_lbl1" xlink:title="label: WastewaterTreatmentFeesMember to pcyo_WastewaterTreatmentFeesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterTreatmentFeesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WastewaterTreatmentFeesMember_lbl2" xml:lang="en-US" id="pcyo_WastewaterTreatmentFeesMember_lbl2">Wastewater Treatment Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterTreatmentFeesMember" xlink:to="pcyo_WastewaterTreatmentFeesMember_lbl2" xlink:title="label: WastewaterTreatmentFeesMember to pcyo_WastewaterTreatmentFeesMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentConstructionCosts" xlink:label="LandDevelopmentConstructionCosts" xlink:title="LandDevelopmentConstructionCosts" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentConstructionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LandDevelopmentConstructionCosts_lbl" xml:lang="en-US" id="pcyo_LandDevelopmentConstructionCosts_lbl">Costs incurred related to construction of land development.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentConstructionCosts" xlink:to="pcyo_LandDevelopmentConstructionCosts_lbl" xlink:title="label: LandDevelopmentConstructionCosts to pcyo_LandDevelopmentConstructionCosts_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentConstructionCosts_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LandDevelopmentConstructionCosts_lbl1" xml:lang="en-US" id="pcyo_LandDevelopmentConstructionCosts_lbl1">Land Development Construction Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentConstructionCosts" xlink:to="pcyo_LandDevelopmentConstructionCosts_lbl1" xlink:title="label: LandDevelopmentConstructionCosts to pcyo_LandDevelopmentConstructionCosts_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentConstructionCosts_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_LandDevelopmentConstructionCosts_lbl2" xml:lang="en-US" id="pcyo_LandDevelopmentConstructionCosts_lbl2">Land development construction costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentConstructionCosts" xlink:to="pcyo_LandDevelopmentConstructionCosts_lbl2" xlink:title="label: LandDevelopmentConstructionCosts to pcyo_LandDevelopmentConstructionCosts_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterServiceOperationsExpense" xlink:label="WastewaterServiceOperationsExpense" xlink:title="WastewaterServiceOperationsExpense" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterServiceOperationsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WastewaterServiceOperationsExpense_lbl" xml:lang="en-US" id="pcyo_WastewaterServiceOperationsExpense_lbl">Cost incurred related to wastewater service operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterServiceOperationsExpense" xlink:to="pcyo_WastewaterServiceOperationsExpense_lbl" xlink:title="label: WastewaterServiceOperationsExpense to pcyo_WastewaterServiceOperationsExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterServiceOperationsExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WastewaterServiceOperationsExpense_lbl1" xml:lang="en-US" id="pcyo_WastewaterServiceOperationsExpense_lbl1">Wastewater Service Operations Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterServiceOperationsExpense" xlink:to="pcyo_WastewaterServiceOperationsExpense_lbl1" xlink:title="label: WastewaterServiceOperationsExpense to pcyo_WastewaterServiceOperationsExpense_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WastewaterServiceOperationsExpense_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_WastewaterServiceOperationsExpense_lbl2" xml:lang="en-US" id="pcyo_WastewaterServiceOperationsExpense_lbl2">Wastewater service operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WastewaterServiceOperationsExpense" xlink:to="pcyo_WastewaterServiceOperationsExpense_lbl2" xlink:title="label: WastewaterServiceOperationsExpense to pcyo_WastewaterServiceOperationsExpense_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OtherServicesExpense" xlink:label="OtherServicesExpense" xlink:title="OtherServicesExpense" />
    <link:label xlink:type="resource" xlink:label="pcyo_OtherServicesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_OtherServicesExpense_lbl" xml:lang="en-US" id="pcyo_OtherServicesExpense_lbl">Amount of other costs incurred and are directly related to services rendered by an entity during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherServicesExpense" xlink:to="pcyo_OtherServicesExpense_lbl" xlink:title="label: OtherServicesExpense to pcyo_OtherServicesExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_OtherServicesExpense_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_OtherServicesExpense_lbl1" xml:lang="en-US" id="pcyo_OtherServicesExpense_lbl1">Other Services Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherServicesExpense" xlink:to="pcyo_OtherServicesExpense_lbl1" xlink:title="label: OtherServicesExpense to pcyo_OtherServicesExpense_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_OtherServicesExpense_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="pcyo_OtherServicesExpense_lbl2" xml:lang="en-US" id="pcyo_OtherServicesExpense_lbl2">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherServicesExpense" xlink:to="pcyo_OtherServicesExpense_lbl2" xlink:title="label: OtherServicesExpense to pcyo_OtherServicesExpense_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageMember" xlink:label="MeteredWaterUsageMember" xlink:title="MeteredWaterUsageMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_MeteredWaterUsageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_MeteredWaterUsageMember_lbl" xml:lang="en-US" id="pcyo_MeteredWaterUsageMember_lbl">Wholesale water usage revenues upon delivering water to its customers or its governmental customer's end-use customers, as applicable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeteredWaterUsageMember" xlink:to="pcyo_MeteredWaterUsageMember_lbl" xlink:title="label: MeteredWaterUsageMember to pcyo_MeteredWaterUsageMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_MeteredWaterUsageMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_MeteredWaterUsageMember_lbl1" xml:lang="en-US" id="pcyo_MeteredWaterUsageMember_lbl1">Metered Water Usage [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeteredWaterUsageMember" xlink:to="pcyo_MeteredWaterUsageMember_lbl1" xlink:title="label: MeteredWaterUsageMember to pcyo_MeteredWaterUsageMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_MeteredWaterUsageMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_MeteredWaterUsageMember_lbl2" xml:lang="en-US" id="pcyo_MeteredWaterUsageMember_lbl2">Metered Water Usage - Municipal [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeteredWaterUsageMember" xlink:to="pcyo_MeteredWaterUsageMember_lbl2" xlink:title="label: MeteredWaterUsageMember to pcyo_MeteredWaterUsageMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EstimatedAnnualEffectiveIncomeTaxRate" xlink:label="EstimatedAnnualEffectiveIncomeTaxRate" xlink:title="EstimatedAnnualEffectiveIncomeTaxRate" />
    <link:label xlink:type="resource" xlink:label="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl" xml:lang="en-US" id="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl">The percentage of estimated annual effective income tax rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedAnnualEffectiveIncomeTaxRate" xlink:to="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl" xlink:title="label: EstimatedAnnualEffectiveIncomeTaxRate to pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl1" xml:lang="en-US" id="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl1">Estimated Annual Effective Income Tax Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedAnnualEffectiveIncomeTaxRate" xlink:to="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl1" xlink:title="label: EstimatedAnnualEffectiveIncomeTaxRate to pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl2" xml:lang="en-US" id="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl2">Estimated annual effective tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedAnnualEffectiveIncomeTaxRate" xlink:to="pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl2" xlink:title="label: EstimatedAnnualEffectiveIncomeTaxRate to pcyo_EstimatedAnnualEffectiveIncomeTaxRate_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NetOperatingLossCarryforwardsAbstract" xlink:label="NetOperatingLossCarryforwardsAbstract" xlink:title="NetOperatingLossCarryforwardsAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_NetOperatingLossCarryforwardsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NetOperatingLossCarryforwardsAbstract_lbl1" xml:lang="en-US" id="pcyo_NetOperatingLossCarryforwardsAbstract_lbl1">Net Operating Loss Carryforwards [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetOperatingLossCarryforwardsAbstract" xlink:to="pcyo_NetOperatingLossCarryforwardsAbstract_lbl1" xlink:title="label: NetOperatingLossCarryforwardsAbstract to pcyo_NetOperatingLossCarryforwardsAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:label="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:title="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US" id="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl">Tabular disclosure of lessee's operating lease assets and liabilities recognized in the statement of financial position.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:to="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl" xlink:title="label: LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock to pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl1" xml:lang="en-US" id="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl1">Lessee, Operating Lease, Assets and Liabilities [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:to="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl1" xlink:title="label: LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock to pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl2" xml:lang="en-US" id="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl2">ROU Lease Assets and Lease Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:to="pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl2" xlink:title="label: LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock to pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfBoardMembers" xlink:label="NumberOfBoardMembers" xlink:title="NumberOfBoardMembers" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfBoardMembers_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfBoardMembers_lbl" xml:lang="en-US" id="pcyo_NumberOfBoardMembers_lbl">This element represents number of board members in company.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBoardMembers" xlink:to="pcyo_NumberOfBoardMembers_lbl" xlink:title="label: NumberOfBoardMembers to pcyo_NumberOfBoardMembers_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfBoardMembers_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfBoardMembers_lbl1" xml:lang="en-US" id="pcyo_NumberOfBoardMembers_lbl1">Number of Board Members</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBoardMembers" xlink:to="pcyo_NumberOfBoardMembers_lbl1" xlink:title="label: NumberOfBoardMembers to pcyo_NumberOfBoardMembers_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfBoardMembers_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfBoardMembers_lbl2" xml:lang="en-US" id="pcyo_NumberOfBoardMembers_lbl2">Number of board members</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBoardMembers" xlink:to="pcyo_NumberOfBoardMembers_lbl2" xlink:title="label: NumberOfBoardMembers to pcyo_NumberOfBoardMembers_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NonEmployeeMember" xlink:label="NonEmployeeMember" xlink:title="NonEmployeeMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_NonEmployeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NonEmployeeMember_lbl" xml:lang="en-US" id="pcyo_NonEmployeeMember_lbl">Person serving as non employee board members.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonEmployeeMember" xlink:to="pcyo_NonEmployeeMember_lbl" xlink:title="label: NonEmployeeMember to pcyo_NonEmployeeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NonEmployeeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NonEmployeeMember_lbl1" xml:lang="en-US" id="pcyo_NonEmployeeMember_lbl1">Non Employee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonEmployeeMember" xlink:to="pcyo_NonEmployeeMember_lbl1" xlink:title="label: NonEmployeeMember to pcyo_NonEmployeeMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NonEmployeeMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NonEmployeeMember_lbl2" xml:lang="en-US" id="pcyo_NonEmployeeMember_lbl2">Non Employee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonEmployeeMember" xlink:to="pcyo_NonEmployeeMember_lbl2" xlink:title="label: NonEmployeeMember to pcyo_NonEmployeeMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EmployeeMember" xlink:label="EmployeeMember" xlink:title="EmployeeMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_EmployeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_EmployeeMember_lbl" xml:lang="en-US" id="pcyo_EmployeeMember_lbl">Person serving on the employee directors.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeMember" xlink:to="pcyo_EmployeeMember_lbl" xlink:title="label: EmployeeMember to pcyo_EmployeeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_EmployeeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_EmployeeMember_lbl1" xml:lang="en-US" id="pcyo_EmployeeMember_lbl1">Employee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeMember" xlink:to="pcyo_EmployeeMember_lbl1" xlink:title="label: EmployeeMember to pcyo_EmployeeMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_EmployeeMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_EmployeeMember_lbl2" xml:lang="en-US" id="pcyo_EmployeeMember_lbl2">Employee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeMember" xlink:to="pcyo_EmployeeMember_lbl2" xlink:title="label: EmployeeMember to pcyo_EmployeeMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SeniorManagementMember" xlink:label="SeniorManagementMember" xlink:title="SeniorManagementMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_SeniorManagementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_SeniorManagementMember_lbl" xml:lang="en-US" id="pcyo_SeniorManagementMember_lbl">Senior management or a management team is generally a team of individuals at the highest level of management of an organization who have the day-to-day tasks of managing that organization.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorManagementMember" xlink:to="pcyo_SeniorManagementMember_lbl" xlink:title="label: SeniorManagementMember to pcyo_SeniorManagementMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_SeniorManagementMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_SeniorManagementMember_lbl1" xml:lang="en-US" id="pcyo_SeniorManagementMember_lbl1">Senior Management [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorManagementMember" xlink:to="pcyo_SeniorManagementMember_lbl1" xlink:title="label: SeniorManagementMember to pcyo_SeniorManagementMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EquityIncentivePlan2014Member" xlink:label="EquityIncentivePlan2014Member" xlink:title="EquityIncentivePlan2014Member" />
    <link:label xlink:type="resource" xlink:label="pcyo_EquityIncentivePlan2014Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_EquityIncentivePlan2014Member_lbl" xml:lang="en-US" id="pcyo_EquityIncentivePlan2014Member_lbl">Equity incentive plan for Executives, eligible employees, consultants and non-employee directors of the company.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityIncentivePlan2014Member" xlink:to="pcyo_EquityIncentivePlan2014Member_lbl" xlink:title="label: EquityIncentivePlan2014Member to pcyo_EquityIncentivePlan2014Member_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_EquityIncentivePlan2014Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_EquityIncentivePlan2014Member_lbl1" xml:lang="en-US" id="pcyo_EquityIncentivePlan2014Member_lbl1">Equity Incentive Plan 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityIncentivePlan2014Member" xlink:to="pcyo_EquityIncentivePlan2014Member_lbl1" xlink:title="label: EquityIncentivePlan2014Member to pcyo_EquityIncentivePlan2014Member_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_EquityIncentivePlan2014Member_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_EquityIncentivePlan2014Member_lbl2" xml:lang="en-US" id="pcyo_EquityIncentivePlan2014Member_lbl2">2014 Equity Plan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityIncentivePlan2014Member" xlink:to="pcyo_EquityIncentivePlan2014Member_lbl2" xlink:title="label: EquityIncentivePlan2014Member to pcyo_EquityIncentivePlan2014Member_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncentivePlan2004AndEquityPlan2014Member" xlink:label="IncentivePlan2004AndEquityPlan2014Member" xlink:title="IncentivePlan2004AndEquityPlan2014Member" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl" xml:lang="en-US" id="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl">The combined activity of the 2004 Incentive Plan and 2014 Equity Plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncentivePlan2004AndEquityPlan2014Member" xlink:to="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl" xlink:title="label: IncentivePlan2004AndEquityPlan2014Member to pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl1" xml:lang="en-US" id="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl1">Incentive Plan 2004 and Equity Plan 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncentivePlan2004AndEquityPlan2014Member" xlink:to="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl1" xlink:title="label: IncentivePlan2004AndEquityPlan2014Member to pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl2" xml:lang="en-US" id="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl2">2004 Incentive Plan and 2014 Equity Plan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncentivePlan2004AndEquityPlan2014Member" xlink:to="pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl2" xlink:title="label: IncentivePlan2004AndEquityPlan2014Member to pcyo_IncentivePlan2004AndEquityPlan2014Member_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OperatingLeasesMonthlyBaseRent" xlink:label="OperatingLeasesMonthlyBaseRent" xlink:title="OperatingLeasesMonthlyBaseRent" />
    <link:label xlink:type="resource" xlink:label="pcyo_OperatingLeasesMonthlyBaseRent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_OperatingLeasesMonthlyBaseRent_lbl" xml:lang="en-US" id="pcyo_OperatingLeasesMonthlyBaseRent_lbl">The amount of rental expense payable per month for operating leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesMonthlyBaseRent" xlink:to="pcyo_OperatingLeasesMonthlyBaseRent_lbl" xlink:title="label: OperatingLeasesMonthlyBaseRent to pcyo_OperatingLeasesMonthlyBaseRent_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_OperatingLeasesMonthlyBaseRent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_OperatingLeasesMonthlyBaseRent_lbl1" xml:lang="en-US" id="pcyo_OperatingLeasesMonthlyBaseRent_lbl1">Operating Leases Monthly Base Rent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesMonthlyBaseRent" xlink:to="pcyo_OperatingLeasesMonthlyBaseRent_lbl1" xlink:title="label: OperatingLeasesMonthlyBaseRent to pcyo_OperatingLeasesMonthlyBaseRent_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_OperatingLeasesMonthlyBaseRent_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_OperatingLeasesMonthlyBaseRent_lbl2" xml:lang="en-US" id="pcyo_OperatingLeasesMonthlyBaseRent_lbl2">Monthly base rent of operating lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesMonthlyBaseRent" xlink:to="pcyo_OperatingLeasesMonthlyBaseRent_lbl2" xlink:title="label: OperatingLeasesMonthlyBaseRent to pcyo_OperatingLeasesMonthlyBaseRent_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:label="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:title="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl" xml:lang="en-US" id="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl">The percentage of increase in primary base payment of operating lease for extended period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:to="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl" xlink:title="label: PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease to pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl1" xml:lang="en-US" id="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl1">Percentage of Increase in Primary Base Payment for Operating Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:to="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl1" xlink:title="label: PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease to pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl2" xml:lang="en-US" id="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl2">Percentage of increase in primary base payment for operating lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:to="pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl2" xlink:title="label: PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease to pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAndMineralRights" xlink:label="LandAndMineralRights" xlink:title="LandAndMineralRights" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandAndMineralRights_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LandAndMineralRights_lbl" xml:lang="en-US" id="pcyo_LandAndMineralRights_lbl">Carrying amount at the balance sheet date of land and mineral rights, or rights to extract a mineral from the earth or to receive payment in the form of a royalty for the extraction of minerals, net of amortization.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAndMineralRights" xlink:to="pcyo_LandAndMineralRights_lbl" xlink:title="label: LandAndMineralRights to pcyo_LandAndMineralRights_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandAndMineralRights_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LandAndMineralRights_lbl1" xml:lang="en-US" id="pcyo_LandAndMineralRights_lbl1">Land and Mineral Rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAndMineralRights" xlink:to="pcyo_LandAndMineralRights_lbl1" xlink:title="label: LandAndMineralRights to pcyo_LandAndMineralRights_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandAndMineralRights_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LandAndMineralRights_lbl2" xml:lang="en-US" id="pcyo_LandAndMineralRights_lbl2">Land and mineral interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAndMineralRights" xlink:to="pcyo_LandAndMineralRights_lbl2" xlink:title="label: LandAndMineralRights to pcyo_LandAndMineralRights_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiability" xlink:label="ParticipatingInterestsLiability" xlink:title="ParticipatingInterestsLiability" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ParticipatingInterestsLiability_lbl" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiability_lbl">Participating interests liability as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiability" xlink:to="pcyo_ParticipatingInterestsLiability_lbl" xlink:title="label: ParticipatingInterestsLiability to pcyo_ParticipatingInterestsLiability_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiability_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ParticipatingInterestsLiability_lbl1" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiability_lbl1">Participating Interests Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiability" xlink:to="pcyo_ParticipatingInterestsLiability_lbl1" xlink:title="label: ParticipatingInterestsLiability to pcyo_ParticipatingInterestsLiability_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiability_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_ParticipatingInterestsLiability_lbl2" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiability_lbl2">Participating interests in Export Water Supply</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiability" xlink:to="pcyo_ParticipatingInterestsLiability_lbl2" xlink:title="label: ParticipatingInterestsLiability to pcyo_ParticipatingInterestsLiability_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiability_lbl3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="pcyo_ParticipatingInterestsLiability_lbl3" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiability_lbl3">Balance at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiability" xlink:to="pcyo_ParticipatingInterestsLiability_lbl3" xlink:title="label: ParticipatingInterestsLiability to pcyo_ParticipatingInterestsLiability_lbl3" />
    <link:label xlink:type="resource" xlink:label="pcyo_ParticipatingInterestsLiability_lbl4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="pcyo_ParticipatingInterestsLiability_lbl4" xml:lang="en-US" id="pcyo_ParticipatingInterestsLiability_lbl4">Balance at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingInterestsLiability" xlink:to="pcyo_ParticipatingInterestsLiability_lbl4" xlink:title="label: ParticipatingInterestsLiability to pcyo_ParticipatingInterestsLiability_lbl4" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:label="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:title="AccruedLiabilitiesExcludingRelatedPartyCurrent" />
    <link:label xlink:type="resource" xlink:label="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl" xml:lang="en-US" id="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl">Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:to="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl" xlink:title="label: AccruedLiabilitiesExcludingRelatedPartyCurrent to pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl1" xml:lang="en-US" id="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl1">Accrued Liabilities excluding related party, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:to="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl1" xlink:title="label: AccruedLiabilitiesExcludingRelatedPartyCurrent to pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl2" xml:lang="en-US" id="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl2">Accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:to="pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl2" xlink:title="label: AccruedLiabilitiesExcludingRelatedPartyCurrent to pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:label="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:title="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl" xml:lang="en-US" id="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl">The entire disclosure for information about long-term obligations and operating lease agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:to="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl" xlink:title="label: LongTermObligationsAndOperatingLeaseDisclosureTextBlock to pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl1" xml:lang="en-US" id="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl1">Long-Term Obligations and Operating Lease Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:to="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl1" xlink:title="label: LongTermObligationsAndOperatingLeaseDisclosureTextBlock to pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl2" xml:lang="en-US" id="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl2">LONG-TERM OBLIGATIONS AND OPERATING LEASE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:to="pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl2" xlink:title="label: LongTermObligationsAndOperatingLeaseDisclosureTextBlock to pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LongTermObligationsAndOperatingLeaseAbstract" xlink:label="LongTermObligationsAndOperatingLeaseAbstract" xlink:title="LongTermObligationsAndOperatingLeaseAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_LongTermObligationsAndOperatingLeaseAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LongTermObligationsAndOperatingLeaseAbstract_lbl1" xml:lang="en-US" id="pcyo_LongTermObligationsAndOperatingLeaseAbstract_lbl1">LONG-TERM OBLIGATIONS AND OPERATING LEASE [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="pcyo_LongTermObligationsAndOperatingLeaseAbstract_lbl1" xlink:title="label: LongTermObligationsAndOperatingLeaseAbstract to pcyo_LongTermObligationsAndOperatingLeaseAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OneOtherCustomerMember" xlink:label="OneOtherCustomerMember" xlink:title="OneOtherCustomerMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_OneOtherCustomerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_OneOtherCustomerMember_lbl" xml:lang="en-US" id="pcyo_OneOtherCustomerMember_lbl">Information by name or description of one other customer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OneOtherCustomerMember" xlink:to="pcyo_OneOtherCustomerMember_lbl" xlink:title="label: OneOtherCustomerMember to pcyo_OneOtherCustomerMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_OneOtherCustomerMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_OneOtherCustomerMember_lbl1" xml:lang="en-US" id="pcyo_OneOtherCustomerMember_lbl1">One Other Customer [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OneOtherCustomerMember" xlink:to="pcyo_OneOtherCustomerMember_lbl1" xlink:title="label: OneOtherCustomerMember to pcyo_OneOtherCustomerMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_OneOtherCustomerMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_OneOtherCustomerMember_lbl2" xml:lang="en-US" id="pcyo_OneOtherCustomerMember_lbl2">One Other Customer [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OneOtherCustomerMember" xlink:to="pcyo_OneOtherCustomerMember_lbl2" xlink:title="label: OneOtherCustomerMember to pcyo_OneOtherCustomerMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfCustomers" xlink:label="NumberOfCustomers" xlink:title="NumberOfCustomers" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_NumberOfCustomers_lbl" xml:lang="en-US" id="pcyo_NumberOfCustomers_lbl">Represents the number of customers.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCustomers" xlink:to="pcyo_NumberOfCustomers_lbl" xlink:title="label: NumberOfCustomers to pcyo_NumberOfCustomers_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfCustomers_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_NumberOfCustomers_lbl1" xml:lang="en-US" id="pcyo_NumberOfCustomers_lbl1">Number of Customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCustomers" xlink:to="pcyo_NumberOfCustomers_lbl1" xlink:title="label: NumberOfCustomers to pcyo_NumberOfCustomers_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_NumberOfCustomers_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_NumberOfCustomers_lbl2" xml:lang="en-US" id="pcyo_NumberOfCustomers_lbl2">Number of customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCustomers" xlink:to="pcyo_NumberOfCustomers_lbl2" xlink:title="label: NumberOfCustomers to pcyo_NumberOfCustomers_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConcentrationRiskPercentageAbstract" xlink:label="ConcentrationRiskPercentageAbstract" xlink:title="ConcentrationRiskPercentageAbstract" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConcentrationRiskPercentageAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ConcentrationRiskPercentageAbstract_lbl1" xml:lang="en-US" id="pcyo_ConcentrationRiskPercentageAbstract_lbl1">Concentration Risk Percentage [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskPercentageAbstract" xlink:to="pcyo_ConcentrationRiskPercentageAbstract_lbl1" xlink:title="label: ConcentrationRiskPercentageAbstract to pcyo_ConcentrationRiskPercentageAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ConcentrationRiskPercentageAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ConcentrationRiskPercentageAbstract_lbl2" xml:lang="en-US" id="pcyo_ConcentrationRiskPercentageAbstract_lbl2">Concentration Risk Percentage [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskPercentageAbstract" xlink:to="pcyo_ConcentrationRiskPercentageAbstract_lbl2" xlink:title="label: ConcentrationRiskPercentageAbstract to pcyo_ConcentrationRiskPercentageAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ElbertHighway86CommercialDistrictMember" xlink:label="ElbertHighway86CommercialDistrictMember" xlink:title="ElbertHighway86CommercialDistrictMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_ElbertHighway86CommercialDistrictMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_ElbertHighway86CommercialDistrictMember_lbl" xml:lang="en-US" id="pcyo_ElbertHighway86CommercialDistrictMember_lbl">The Elbert &amp; Highway 86 Commercial District ("Wild Pointe") is one of the significant customer of Rangeview district.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElbertHighway86CommercialDistrictMember" xlink:to="pcyo_ElbertHighway86CommercialDistrictMember_lbl" xlink:title="label: ElbertHighway86CommercialDistrictMember to pcyo_ElbertHighway86CommercialDistrictMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_ElbertHighway86CommercialDistrictMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_ElbertHighway86CommercialDistrictMember_lbl1" xml:lang="en-US" id="pcyo_ElbertHighway86CommercialDistrictMember_lbl1">Elbert &amp; Highway 86 Commercial District [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElbertHighway86CommercialDistrictMember" xlink:to="pcyo_ElbertHighway86CommercialDistrictMember_lbl1" xlink:title="label: ElbertHighway86CommercialDistrictMember to pcyo_ElbertHighway86CommercialDistrictMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_ElbertHighway86CommercialDistrictMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_ElbertHighway86CommercialDistrictMember_lbl2" xml:lang="en-US" id="pcyo_ElbertHighway86CommercialDistrictMember_lbl2">Wild Pointe [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElbertHighway86CommercialDistrictMember" xlink:to="pcyo_ElbertHighway86CommercialDistrictMember_lbl2" xlink:title="label: ElbertHighway86CommercialDistrictMember to pcyo_ElbertHighway86CommercialDistrictMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RidgeviewYouthServicesCenterMember" xlink:label="RidgeviewYouthServicesCenterMember" xlink:title="RidgeviewYouthServicesCenterMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_RidgeviewYouthServicesCenterMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RidgeviewYouthServicesCenterMember_lbl" xml:lang="en-US" id="pcyo_RidgeviewYouthServicesCenterMember_lbl">Ridgeview youth services center is one of the significant customer of Rangeview district.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RidgeviewYouthServicesCenterMember" xlink:to="pcyo_RidgeviewYouthServicesCenterMember_lbl" xlink:title="label: RidgeviewYouthServicesCenterMember to pcyo_RidgeviewYouthServicesCenterMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RidgeviewYouthServicesCenterMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RidgeviewYouthServicesCenterMember_lbl1" xml:lang="en-US" id="pcyo_RidgeviewYouthServicesCenterMember_lbl1">Ridgeview Youth Services Center [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RidgeviewYouthServicesCenterMember" xlink:to="pcyo_RidgeviewYouthServicesCenterMember_lbl1" xlink:title="label: RidgeviewYouthServicesCenterMember to pcyo_RidgeviewYouthServicesCenterMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RidgeviewYouthServicesCenterMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RidgeviewYouthServicesCenterMember_lbl2" xml:lang="en-US" id="pcyo_RidgeviewYouthServicesCenterMember_lbl2">Ridgeview [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RidgeviewYouthServicesCenterMember" xlink:to="pcyo_RidgeviewYouthServicesCenterMember_lbl2" xlink:title="label: RidgeviewYouthServicesCenterMember to pcyo_RidgeviewYouthServicesCenterMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchCommunityDevelopmentMember" xlink:label="SkyRanchCommunityDevelopmentMember" xlink:title="SkyRanchCommunityDevelopmentMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchCommunityDevelopmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_SkyRanchCommunityDevelopmentMember_lbl" xml:lang="en-US" id="pcyo_SkyRanchCommunityDevelopmentMember_lbl">Sky Ranch Community Development ("Sky Ranch") is one of the significant customer of Rangeview district.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchCommunityDevelopmentMember" xlink:to="pcyo_SkyRanchCommunityDevelopmentMember_lbl" xlink:title="label: SkyRanchCommunityDevelopmentMember to pcyo_SkyRanchCommunityDevelopmentMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchCommunityDevelopmentMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_SkyRanchCommunityDevelopmentMember_lbl1" xml:lang="en-US" id="pcyo_SkyRanchCommunityDevelopmentMember_lbl1">Sky Ranch Community Development [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchCommunityDevelopmentMember" xlink:to="pcyo_SkyRanchCommunityDevelopmentMember_lbl1" xlink:title="label: SkyRanchCommunityDevelopmentMember to pcyo_SkyRanchCommunityDevelopmentMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_SkyRanchCommunityDevelopmentMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_SkyRanchCommunityDevelopmentMember_lbl2" xml:lang="en-US" id="pcyo_SkyRanchCommunityDevelopmentMember_lbl2">Sky Ranch [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkyRanchCommunityDevelopmentMember" xlink:to="pcyo_SkyRanchCommunityDevelopmentMember_lbl2" xlink:title="label: SkyRanchCommunityDevelopmentMember to pcyo_SkyRanchCommunityDevelopmentMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewDistrictMember" xlink:label="RangeviewDistrictMember" xlink:title="RangeviewDistrictMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewDistrictMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_RangeviewDistrictMember_lbl" xml:lang="en-US" id="pcyo_RangeviewDistrictMember_lbl">The Rangeview District is a quasi-municipal corporation and political subdivision of Colorado formed in 1986 for the purpose of providing water and wastewater service to the Lowry Range and other approved areas.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewDistrictMember" xlink:to="pcyo_RangeviewDistrictMember_lbl" xlink:title="label: RangeviewDistrictMember to pcyo_RangeviewDistrictMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewDistrictMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_RangeviewDistrictMember_lbl1" xml:lang="en-US" id="pcyo_RangeviewDistrictMember_lbl1">Rangeview District [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewDistrictMember" xlink:to="pcyo_RangeviewDistrictMember_lbl1" xlink:title="label: RangeviewDistrictMember to pcyo_RangeviewDistrictMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_RangeviewDistrictMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_RangeviewDistrictMember_lbl2" xml:lang="en-US" id="pcyo_RangeviewDistrictMember_lbl2">Rangeview District [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeviewDistrictMember" xlink:to="pcyo_RangeviewDistrictMember_lbl2" xlink:title="label: RangeviewDistrictMember to pcyo_RangeviewDistrictMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerTwoMember" xlink:label="CustomerTwoMember" xlink:title="CustomerTwoMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_CustomerTwoMember_lbl" xml:lang="en-US" id="pcyo_CustomerTwoMember_lbl">Information by name or description of customer two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerTwoMember" xlink:to="pcyo_CustomerTwoMember_lbl" xlink:title="label: CustomerTwoMember to pcyo_CustomerTwoMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerTwoMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_CustomerTwoMember_lbl1" xml:lang="en-US" id="pcyo_CustomerTwoMember_lbl1">Customer Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerTwoMember" xlink:to="pcyo_CustomerTwoMember_lbl1" xlink:title="label: CustomerTwoMember to pcyo_CustomerTwoMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerTwoMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_CustomerTwoMember_lbl2" xml:lang="en-US" id="pcyo_CustomerTwoMember_lbl2">Customer Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerTwoMember" xlink:to="pcyo_CustomerTwoMember_lbl2" xlink:title="label: CustomerTwoMember to pcyo_CustomerTwoMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentActivitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_LandDevelopmentActivitiesMember_lbl" xml:lang="en-US" id="pcyo_LandDevelopmentActivitiesMember_lbl">Land development activities real estate held and assets that are an addition or improvement to real estate held.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentActivitiesMember" xlink:to="pcyo_LandDevelopmentActivitiesMember_lbl" xlink:title="label: LandDevelopmentActivitiesMember to pcyo_LandDevelopmentActivitiesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentActivitiesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_LandDevelopmentActivitiesMember_lbl1" xml:lang="en-US" id="pcyo_LandDevelopmentActivitiesMember_lbl1">Land Development Activities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentActivitiesMember" xlink:to="pcyo_LandDevelopmentActivitiesMember_lbl1" xlink:title="label: LandDevelopmentActivitiesMember to pcyo_LandDevelopmentActivitiesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentActivitiesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_LandDevelopmentActivitiesMember_lbl2" xml:lang="en-US" id="pcyo_LandDevelopmentActivitiesMember_lbl2">Land Development [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentActivitiesMember" xlink:to="pcyo_LandDevelopmentActivitiesMember_lbl2" xlink:title="label: LandDevelopmentActivitiesMember to pcyo_LandDevelopmentActivitiesMember_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_LandDevelopmentActivitiesMember_lbl3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_LandDevelopmentActivitiesMember_lbl3" xml:lang="en-US" id="pcyo_LandDevelopmentActivitiesMember_lbl3">Land Development Activities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandDevelopmentActivitiesMember" xlink:to="pcyo_LandDevelopmentActivitiesMember_lbl3" xlink:title="label: LandDevelopmentActivitiesMember to pcyo_LandDevelopmentActivitiesMember_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl" xml:lang="en-US" id="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl">The wholesale water and wastewater services business includes selling water service to customers, which water is provided by the Company using water rights owned or controlled by the Company, and developing infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WholesaleWaterAndWastewaterServicesMember" xlink:to="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl" xlink:title="label: WholesaleWaterAndWastewaterServicesMember to pcyo_WholesaleWaterAndWastewaterServicesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl1" xml:lang="en-US" id="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl1">Wholesale Water and Wastewater Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WholesaleWaterAndWastewaterServicesMember" xlink:to="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl1" xlink:title="label: WholesaleWaterAndWastewaterServicesMember to pcyo_WholesaleWaterAndWastewaterServicesMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl2" xml:lang="en-US" id="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl2">Water and Wastewater Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WholesaleWaterAndWastewaterServicesMember" xlink:to="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl2" xlink:title="label: WholesaleWaterAndWastewaterServicesMember to pcyo_WholesaleWaterAndWastewaterServicesMember_lbl2" />
    <link:label xlink:type="resource" xlink:label="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl3" xml:lang="en-US" id="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl3">Wholesale Water and Wastewater Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WholesaleWaterAndWastewaterServicesMember" xlink:to="pcyo_WholesaleWaterAndWastewaterServicesMember_lbl3" xlink:title="label: WholesaleWaterAndWastewaterServicesMember to pcyo_WholesaleWaterAndWastewaterServicesMember_lbl3" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerThreeMember" xlink:label="CustomerThreeMember" xlink:title="CustomerThreeMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_CustomerThreeMember_lbl" xml:lang="en-US" id="pcyo_CustomerThreeMember_lbl">Information by name or description of customer three.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerThreeMember" xlink:to="pcyo_CustomerThreeMember_lbl" xlink:title="label: CustomerThreeMember to pcyo_CustomerThreeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerThreeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_CustomerThreeMember_lbl1" xml:lang="en-US" id="pcyo_CustomerThreeMember_lbl1">Customer Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerThreeMember" xlink:to="pcyo_CustomerThreeMember_lbl1" xlink:title="label: CustomerThreeMember to pcyo_CustomerThreeMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerThreeMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_CustomerThreeMember_lbl2" xml:lang="en-US" id="pcyo_CustomerThreeMember_lbl2">Customer Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerThreeMember" xlink:to="pcyo_CustomerThreeMember_lbl2" xlink:title="label: CustomerThreeMember to pcyo_CustomerThreeMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerOneMember" xlink:label="CustomerOneMember" xlink:title="CustomerOneMember" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="pcyo_CustomerOneMember_lbl" xml:lang="en-US" id="pcyo_CustomerOneMember_lbl">Information by name or description of customer one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerOneMember" xlink:to="pcyo_CustomerOneMember_lbl" xlink:title="label: CustomerOneMember to pcyo_CustomerOneMember_lbl" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerOneMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="pcyo_CustomerOneMember_lbl1" xml:lang="en-US" id="pcyo_CustomerOneMember_lbl1">Customer One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerOneMember" xlink:to="pcyo_CustomerOneMember_lbl1" xlink:title="label: CustomerOneMember to pcyo_CustomerOneMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="pcyo_CustomerOneMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="pcyo_CustomerOneMember_lbl2" xml:lang="en-US" id="pcyo_CustomerOneMember_lbl2">Customer One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerOneMember" xlink:to="pcyo_CustomerOneMember_lbl2" xlink:title="label: CustomerOneMember to pcyo_CustomerOneMember_lbl2" />
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>12
<FILENAME>pcyo-20200531_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 7.0.0.0 Broadridge-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" />
  <link:roleRef roleURI="http://purecyclewater.com/role/IncomeTaxesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#IncomeTaxesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentReportingCorporateAssetsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentReportingCorporateAssetsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentInformationRevenueBySegmentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentInformationRevenueBySegmentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/AccruedLiabilitiesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#AccruedLiabilitiesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SignificantCustomersDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SignificantCustomersDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/RelatedPartyTransactionsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#RelatedPartyTransactionsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquityEquityCompensationPlanDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquityEquityCompensationPlanDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLongtermObligationsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLeaseLongtermObligationsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/WaterAndLandAssetsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#WaterAndLandAssetsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/FairValueMeasurementsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#FairValueMeasurementsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationEarningsPerCommonShareDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationEarningsPerCommonShareDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationIncomeTaxesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationIncomeTaxesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationSharebasedCompensationDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationSharebasedCompensationDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationDeferredRevenueDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationDeferredRevenueDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationOilAndGasLeasePaymentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationOilAndGasLeasePaymentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationRevenueRecognitionDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationRevenueRecognitionDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationInvestmentsDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationInvestmentsDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationLandDevelopmentInventoriesDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationLandDevelopmentInventoriesDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationCaresActDetails" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationCaresActDetails" />
  <link:roleRef roleURI="http://purecyclewater.com/role/IncomeTaxesTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#IncomeTaxesTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentInformationTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentInformationTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquityTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquityTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLeaseTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/WaterAndLandAssetsTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#WaterAndLandAssetsTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/FairValueMeasurementsTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#FairValueMeasurementsTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationTables" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationTables" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformationPolicies" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformationPolicies" />
  <link:roleRef roleURI="http://purecyclewater.com/role/IncomeTaxes" xlink:type="simple" xlink:href="pcyo-20200531.xsd#IncomeTaxes" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SegmentInformation" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SegmentInformation" />
  <link:roleRef roleURI="http://purecyclewater.com/role/CommitmentsAndContingencies" xlink:type="simple" xlink:href="pcyo-20200531.xsd#CommitmentsAndContingencies" />
  <link:roleRef roleURI="http://purecyclewater.com/role/AccruedLiabilities" xlink:type="simple" xlink:href="pcyo-20200531.xsd#AccruedLiabilities" />
  <link:roleRef roleURI="http://purecyclewater.com/role/SignificantCustomers" xlink:type="simple" xlink:href="pcyo-20200531.xsd#SignificantCustomers" />
  <link:roleRef roleURI="http://purecyclewater.com/role/RelatedPartyTransactions" xlink:type="simple" xlink:href="pcyo-20200531.xsd#RelatedPartyTransactions" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ShareholdersEquity" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ShareholdersEquity" />
  <link:roleRef roleURI="http://purecyclewater.com/role/LongtermObligationsAndOperatingLease" xlink:type="simple" xlink:href="pcyo-20200531.xsd#LongtermObligationsAndOperatingLease" />
  <link:roleRef roleURI="http://purecyclewater.com/role/WaterAndLandAssets" xlink:type="simple" xlink:href="pcyo-20200531.xsd#WaterAndLandAssets" />
  <link:roleRef roleURI="http://purecyclewater.com/role/FairValueMeasurements" xlink:type="simple" xlink:href="pcyo-20200531.xsd#FairValueMeasurements" />
  <link:roleRef roleURI="http://purecyclewater.com/role/PresentationOfInterimInformation" xlink:type="simple" xlink:href="pcyo-20200531.xsd#PresentationOfInterimInformation" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementsOfCashFlowsUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementOfShareholdersEquityUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementOfShareholdersEquityUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedBalanceSheetsParentheticalUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedBalanceSheetsParentheticalUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited" xlink:type="simple" xlink:href="pcyo-20200531.xsd#ConsolidatedBalanceSheetsUnaudited" />
  <link:roleRef roleURI="http://purecyclewater.com/role/DocumentAndEntityInformation" xlink:type="simple" xlink:href="pcyo-20200531.xsd#DocumentAndEntityInformation" />
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/DocumentAndEntityInformation">
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:label="CoverAbstract" xlink:title="CoverAbstract" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityRegistrantName" xlink:title="presentation: CoverAbstract to EntityRegistrantName" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityCentralIndexKey" xlink:title="presentation: CoverAbstract to EntityCentralIndexKey" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="CurrentFiscalYearEndDate" xlink:title="CurrentFiscalYearEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="CurrentFiscalYearEndDate" xlink:title="presentation: CoverAbstract to CurrentFiscalYearEndDate" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="EntityCurrentReportingStatus" xlink:title="EntityCurrentReportingStatus" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityCurrentReportingStatus" xlink:title="presentation: CoverAbstract to EntityCurrentReportingStatus" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="EntityInteractiveDataCurrent" xlink:title="EntityInteractiveDataCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityInteractiveDataCurrent" xlink:title="presentation: CoverAbstract to EntityInteractiveDataCurrent" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="EntityShellCompany" xlink:title="EntityShellCompany" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityShellCompany" xlink:title="presentation: CoverAbstract to EntityShellCompany" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="EntityFilerCategory" xlink:title="EntityFilerCategory" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityFilerCategory" xlink:title="presentation: CoverAbstract to EntityFilerCategory" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntitySmallBusiness" xlink:label="EntitySmallBusiness" xlink:title="EntitySmallBusiness" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntitySmallBusiness" xlink:title="presentation: CoverAbstract to EntitySmallBusiness" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityEmergingGrowthCompany" xlink:title="presentation: CoverAbstract to EntityEmergingGrowthCompany" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityCommonStockSharesOutstanding" xlink:title="presentation: CoverAbstract to EntityCommonStockSharesOutstanding" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="DocumentType" xlink:title="presentation: CoverAbstract to DocumentType" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="AmendmentFlag" xlink:title="presentation: CoverAbstract to AmendmentFlag" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="DocumentPeriodEndDate" xlink:title="presentation: CoverAbstract to DocumentPeriodEndDate" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="DocumentFiscalYearFocus" xlink:title="presentation: CoverAbstract to DocumentFiscalYearFocus" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="DocumentFiscalPeriodFocus" xlink:title="presentation: CoverAbstract to DocumentFiscalPeriodFocus" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityAddressStateOrProvince" xlink:title="presentation: CoverAbstract to EntityAddressStateOrProvince" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="AssetsCurrentAbstract" xlink:title="AssetsCurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="CashAndCashEquivalentsAtCarryingValue" xlink:title="CashAndCashEquivalentsAtCarryingValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsCurrentAbstract" xlink:to="CashAndCashEquivalentsAtCarryingValue" xlink:title="presentation: AssetsCurrentAbstract to CashAndCashEquivalentsAtCarryingValue" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermInvestments" xlink:label="ShortTermInvestments" xlink:title="ShortTermInvestments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsCurrentAbstract" xlink:to="ShortTermInvestments" xlink:title="presentation: AssetsCurrentAbstract to ShortTermInvestments" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="AccountsReceivableNetCurrent" xlink:title="AccountsReceivableNetCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsCurrentAbstract" xlink:to="AccountsReceivableNetCurrent" xlink:title="presentation: AssetsCurrentAbstract to AccountsReceivableNetCurrent" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:label="PrepaidExpenseCurrent" xlink:title="PrepaidExpenseCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsCurrentAbstract" xlink:to="PrepaidExpenseCurrent" xlink:title="presentation: AssetsCurrentAbstract to PrepaidExpenseCurrent" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryLandHeldForDevelopmentAndSale" xlink:label="InventoryLandHeldForDevelopmentAndSale" xlink:title="InventoryLandHeldForDevelopmentAndSale" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsCurrentAbstract" xlink:to="InventoryLandHeldForDevelopmentAndSale" xlink:title="presentation: AssetsCurrentAbstract to InventoryLandHeldForDevelopmentAndSale" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesReceivable" xlink:label="IncomeTaxesReceivable" xlink:title="IncomeTaxesReceivable" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsCurrentAbstract" xlink:to="IncomeTaxesReceivable" xlink:title="presentation: AssetsCurrentAbstract to IncomeTaxesReceivable" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="AssetsCurrent" xlink:title="AssetsCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsCurrentAbstract" xlink:to="AssetsCurrent" xlink:title="presentation: AssetsCurrentAbstract to AssetsCurrent" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="AssetsCurrentAbstract" xlink:title="presentation: AssetsAbstract to AssetsCurrentAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="PropertyPlantAndEquipmentNet" xlink:title="presentation: AssetsAbstract to PropertyPlantAndEquipmentNet" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAndMineralRights" xlink:label="LandAndMineralRights" xlink:title="LandAndMineralRights" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="LandAndMineralRights" xlink:title="presentation: AssetsAbstract to LandAndMineralRights" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableRelatedPartiesNoncurrent" xlink:label="NotesReceivableRelatedPartiesNoncurrent" xlink:title="NotesReceivableRelatedPartiesNoncurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="NotesReceivableRelatedPartiesNoncurrent" xlink:title="presentation: AssetsAbstract to NotesReceivableRelatedPartiesNoncurrent" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="OtherAssetsNoncurrent" xlink:title="OtherAssetsNoncurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="OtherAssetsNoncurrent" xlink:title="presentation: AssetsAbstract to OtherAssetsNoncurrent" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateInvestments" xlink:label="RealEstateInvestments" xlink:title="RealEstateInvestments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="RealEstateInvestments" xlink:title="presentation: AssetsAbstract to RealEstateInvestments" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="OperatingLeaseRightOfUseAsset" xlink:title="OperatingLeaseRightOfUseAsset" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="OperatingLeaseRightOfUseAsset" xlink:title="presentation: AssetsAbstract to OperatingLeaseRightOfUseAsset" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet" xlink:label="DeferredIncomeTaxAssetsNet" xlink:title="DeferredIncomeTaxAssetsNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="DeferredIncomeTaxAssetsNet" xlink:title="presentation: AssetsAbstract to DeferredIncomeTaxAssetsNet" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesReceivableNoncurrent" xlink:label="IncomeTaxesReceivableNoncurrent" xlink:title="IncomeTaxesReceivableNoncurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="IncomeTaxesReceivableNoncurrent" xlink:title="presentation: AssetsAbstract to IncomeTaxesReceivableNoncurrent" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAbstract" xlink:to="Assets" xlink:title="presentation: AssetsAbstract to Assets" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="AssetsAbstract" xlink:title="presentation: StatementOfFinancialPositionAbstract to AssetsAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="LiabilitiesAbstract" xlink:title="LiabilitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="LiabilitiesCurrentAbstract" xlink:title="LiabilitiesCurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="AccountsPayableCurrent" xlink:title="AccountsPayableCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesCurrentAbstract" xlink:to="AccountsPayableCurrent" xlink:title="presentation: LiabilitiesCurrentAbstract to AccountsPayableCurrent" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:label="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:title="AccruedLiabilitiesExcludingRelatedPartyCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesCurrentAbstract" xlink:to="AccruedLiabilitiesExcludingRelatedPartyCurrent" xlink:title="presentation: LiabilitiesCurrentAbstract to AccruedLiabilitiesExcludingRelatedPartyCurrent" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableRelatedPartiesCurrent" xlink:label="AccountsPayableRelatedPartiesCurrent" xlink:title="AccountsPayableRelatedPartiesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesCurrentAbstract" xlink:to="AccountsPayableRelatedPartiesCurrent" xlink:title="presentation: LiabilitiesCurrentAbstract to AccountsPayableRelatedPartiesCurrent" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent" xlink:label="ContractWithCustomerLiabilityCurrent" xlink:title="ContractWithCustomerLiabilityCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesCurrentAbstract" xlink:to="ContractWithCustomerLiabilityCurrent" xlink:title="presentation: LiabilitiesCurrentAbstract to ContractWithCustomerLiabilityCurrent" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueLeasesCurrent" xlink:label="DeferredRevenueLeasesCurrent" xlink:title="DeferredRevenueLeasesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesCurrentAbstract" xlink:to="DeferredRevenueLeasesCurrent" xlink:title="presentation: LiabilitiesCurrentAbstract to DeferredRevenueLeasesCurrent" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="LiabilitiesCurrent" xlink:title="LiabilitiesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesCurrentAbstract" xlink:to="LiabilitiesCurrent" xlink:title="presentation: LiabilitiesCurrentAbstract to LiabilitiesCurrent" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesAbstract" xlink:to="LiabilitiesCurrentAbstract" xlink:title="presentation: LiabilitiesAbstract to LiabilitiesCurrentAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityNoncurrent" xlink:label="ContractWithCustomerLiabilityNoncurrent" xlink:title="ContractWithCustomerLiabilityNoncurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesAbstract" xlink:to="ContractWithCustomerLiabilityNoncurrent" xlink:title="presentation: LiabilitiesAbstract to ContractWithCustomerLiabilityNoncurrent" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="OperatingLeaseLiabilityNoncurrent" xlink:title="OperatingLeaseLiabilityNoncurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesAbstract" xlink:to="OperatingLeaseLiabilityNoncurrent" xlink:title="presentation: LiabilitiesAbstract to OperatingLeaseLiabilityNoncurrent" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiability" xlink:label="ParticipatingInterestsLiability" xlink:title="ParticipatingInterestsLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesAbstract" xlink:to="ParticipatingInterestsLiability" xlink:title="presentation: LiabilitiesAbstract to ParticipatingInterestsLiability" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LiabilitiesAbstract" xlink:to="Liabilities" xlink:title="presentation: LiabilitiesAbstract to Liabilities" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="LiabilitiesAbstract" xlink:title="presentation: StatementOfFinancialPositionAbstract to LiabilitiesAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="StockholdersEquityAbstract" xlink:title="StockholdersEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="PreferredStockValue" xlink:title="PreferredStockValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="PreferredStockValue" xlink:title="presentation: StockholdersEquityAbstract to PreferredStockValue" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValueOutstanding" xlink:label="CommonStockValueOutstanding" xlink:title="CommonStockValueOutstanding" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="CommonStockValueOutstanding" xlink:title="presentation: StockholdersEquityAbstract to CommonStockValueOutstanding" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="AdditionalPaidInCapital" xlink:title="AdditionalPaidInCapital" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="AdditionalPaidInCapital" xlink:title="presentation: StockholdersEquityAbstract to AdditionalPaidInCapital" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="presentation: StockholdersEquityAbstract to AccumulatedOtherComprehensiveIncomeLossNetOfTax" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="RetainedEarningsAccumulatedDeficit" xlink:title="RetainedEarningsAccumulatedDeficit" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="RetainedEarningsAccumulatedDeficit" xlink:title="presentation: StockholdersEquityAbstract to RetainedEarningsAccumulatedDeficit" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="StockholdersEquity" xlink:title="presentation: StockholdersEquityAbstract to StockholdersEquity" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="StockholdersEquityAbstract" xlink:title="presentation: StatementOfFinancialPositionAbstract to StockholdersEquityAbstract" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="LiabilitiesAndStockholdersEquity" xlink:title="presentation: StatementOfFinancialPositionAbstract to LiabilitiesAndStockholdersEquity" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedBalanceSheetsParentheticalUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="StockholdersEquityAbstract" xlink:title="StockholdersEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="PreferredStockParOrStatedValuePerShare" xlink:title="PreferredStockParOrStatedValuePerShare" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="PreferredStockParOrStatedValuePerShare" xlink:title="presentation: StockholdersEquityAbstract to PreferredStockParOrStatedValuePerShare" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="PreferredStockSharesAuthorized" xlink:title="PreferredStockSharesAuthorized" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="PreferredStockSharesAuthorized" xlink:title="presentation: StockholdersEquityAbstract to PreferredStockSharesAuthorized" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="PreferredStockSharesIssued" xlink:title="PreferredStockSharesIssued" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="PreferredStockSharesIssued" xlink:title="presentation: StockholdersEquityAbstract to PreferredStockSharesIssued" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="PreferredStockSharesOutstanding" xlink:title="PreferredStockSharesOutstanding" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="PreferredStockSharesOutstanding" xlink:title="presentation: StockholdersEquityAbstract to PreferredStockSharesOutstanding" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockLiquidationPreferenceValue" xlink:label="PreferredStockLiquidationPreferenceValue" xlink:title="PreferredStockLiquidationPreferenceValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="PreferredStockLiquidationPreferenceValue" xlink:title="presentation: StockholdersEquityAbstract to PreferredStockLiquidationPreferenceValue" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="CommonStockParOrStatedValuePerShare" xlink:title="CommonStockParOrStatedValuePerShare" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="CommonStockParOrStatedValuePerShare" xlink:title="presentation: StockholdersEquityAbstract to CommonStockParOrStatedValuePerShare" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="CommonStockSharesAuthorized" xlink:title="CommonStockSharesAuthorized" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="CommonStockSharesAuthorized" xlink:title="presentation: StockholdersEquityAbstract to CommonStockSharesAuthorized" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="CommonStockSharesOutstanding" xlink:title="CommonStockSharesOutstanding" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StockholdersEquityAbstract" xlink:to="CommonStockSharesOutstanding" xlink:title="presentation: StockholdersEquityAbstract to CommonStockSharesOutstanding" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="StockholdersEquityAbstract" xlink:title="presentation: StatementOfFinancialPositionAbstract to StockholdersEquityAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="IncomeStatementAbstract" xlink:title="IncomeStatementAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageMember" xlink:label="MeteredWaterUsageMember" xlink:title="MeteredWaterUsageMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="MeteredWaterUsageMember" xlink:title="presentation: ProductsAndServicesDomain to MeteredWaterUsageMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageOilAndGasMember" xlink:label="MeteredWaterUsageOilAndGasMember" xlink:title="MeteredWaterUsageOilAndGasMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="MeteredWaterUsageOilAndGasMember" xlink:title="presentation: ProductsAndServicesDomain to MeteredWaterUsageOilAndGasMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterTreatmentFeesMember" xlink:label="WastewaterTreatmentFeesMember" xlink:title="WastewaterTreatmentFeesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="WastewaterTreatmentFeesMember" xlink:title="presentation: ProductsAndServicesDomain to WastewaterTreatmentFeesMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterTapFeesMember" xlink:label="WaterAndWastewaterTapFeesMember" xlink:title="WaterAndWastewaterTapFeesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="WaterAndWastewaterTapFeesMember" xlink:title="presentation: ProductsAndServicesDomain to WaterAndWastewaterTapFeesMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesMember" xlink:label="LotSalesMember" xlink:title="LotSalesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="LotSalesMember" xlink:title="presentation: ProductsAndServicesDomain to LotSalesMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ServiceOtherMember" xlink:label="ServiceOtherMember" xlink:title="ServiceOtherMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="ServiceOtherMember" xlink:title="presentation: ProductsAndServicesDomain to ServiceOtherMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="presentation: ProductOrServiceAxis to ProductsAndServicesDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementTable" xlink:to="ProductOrServiceAxis" xlink:title="presentation: StatementTable to ProductOrServiceAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="RevenuesAbstract" xlink:title="RevenuesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenuesAbstract" xlink:to="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="presentation: RevenuesAbstract to RevenueFromContractWithCustomerExcludingAssessedTax" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="RevenuesAbstract" xlink:title="presentation: StatementLineItems to RevenuesAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingCostsAndExpensesAbstract" xlink:label="OperatingCostsAndExpensesAbstract" xlink:title="OperatingCostsAndExpensesAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterServiceOperationsExpense" xlink:label="WaterServiceOperationsExpense" xlink:title="WaterServiceOperationsExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingCostsAndExpensesAbstract" xlink:to="WaterServiceOperationsExpense" xlink:title="presentation: OperatingCostsAndExpensesAbstract to WaterServiceOperationsExpense" order="0.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterServiceOperationsExpense" xlink:label="WastewaterServiceOperationsExpense" xlink:title="WastewaterServiceOperationsExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingCostsAndExpensesAbstract" xlink:to="WastewaterServiceOperationsExpense" xlink:title="presentation: OperatingCostsAndExpensesAbstract to WastewaterServiceOperationsExpense" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentConstructionCosts" xlink:label="LandDevelopmentConstructionCosts" xlink:title="LandDevelopmentConstructionCosts" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingCostsAndExpensesAbstract" xlink:to="LandDevelopmentConstructionCosts" xlink:title="presentation: OperatingCostsAndExpensesAbstract to LandDevelopmentConstructionCosts" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostDepreciationAmortizationAndDepletion" xlink:label="CostDepreciationAmortizationAndDepletion" xlink:title="CostDepreciationAmortizationAndDepletion" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingCostsAndExpensesAbstract" xlink:to="CostDepreciationAmortizationAndDepletion" xlink:title="presentation: OperatingCostsAndExpensesAbstract to CostDepreciationAmortizationAndDepletion" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OtherServicesExpense" xlink:label="OtherServicesExpense" xlink:title="OtherServicesExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingCostsAndExpensesAbstract" xlink:to="OtherServicesExpense" xlink:title="presentation: OperatingCostsAndExpensesAbstract to OtherServicesExpense" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="CostOfRevenue" xlink:title="CostOfRevenue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingCostsAndExpensesAbstract" xlink:to="CostOfRevenue" xlink:title="presentation: OperatingCostsAndExpensesAbstract to CostOfRevenue" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="OperatingCostsAndExpensesAbstract" xlink:title="presentation: StatementLineItems to OperatingCostsAndExpensesAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GrossProfit" xlink:label="GrossProfit" xlink:title="GrossProfit" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="GrossProfit" xlink:title="presentation: StatementLineItems to GrossProfit" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="GeneralAndAdministrativeExpense" xlink:title="presentation: StatementLineItems to GeneralAndAdministrativeExpense" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="DepreciationNonproduction" xlink:title="DepreciationNonproduction" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="DepreciationNonproduction" xlink:title="presentation: StatementLineItems to DepreciationNonproduction" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="OperatingIncomeLoss" xlink:title="OperatingIncomeLoss" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="OperatingIncomeLoss" xlink:title="presentation: StatementLineItems to OperatingIncomeLoss" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract" xlink:label="OtherIncomeAndExpensesAbstract" xlink:title="OtherIncomeAndExpensesAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursementOfConstructionCostsRelatedParty" xlink:label="ReimbursementOfConstructionCostsRelatedParty" xlink:title="ReimbursementOfConstructionCostsRelatedParty" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherIncomeAndExpensesAbstract" xlink:to="ReimbursementOfConstructionCostsRelatedParty" xlink:title="presentation: OtherIncomeAndExpensesAbstract to ReimbursementOfConstructionCostsRelatedParty" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RentalIncomeNonoperating" xlink:label="RentalIncomeNonoperating" xlink:title="RentalIncomeNonoperating" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherIncomeAndExpensesAbstract" xlink:to="RentalIncomeNonoperating" xlink:title="presentation: OtherIncomeAndExpensesAbstract to RentalIncomeNonoperating" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RoyaltyIncomeNonoperating" xlink:label="RoyaltyIncomeNonoperating" xlink:title="RoyaltyIncomeNonoperating" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherIncomeAndExpensesAbstract" xlink:to="RoyaltyIncomeNonoperating" xlink:title="presentation: OtherIncomeAndExpensesAbstract to RoyaltyIncomeNonoperating" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="InvestmentIncomeInterest" xlink:title="InvestmentIncomeInterest" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherIncomeAndExpensesAbstract" xlink:to="InvestmentIncomeInterest" xlink:title="presentation: OtherIncomeAndExpensesAbstract to InvestmentIncomeInterest" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="OtherNonoperatingIncomeExpense" xlink:title="OtherNonoperatingIncomeExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OtherIncomeAndExpensesAbstract" xlink:to="OtherNonoperatingIncomeExpense" xlink:title="presentation: OtherIncomeAndExpensesAbstract to OtherNonoperatingIncomeExpense" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="OtherIncomeAndExpensesAbstract" xlink:title="presentation: StatementLineItems to OtherIncomeAndExpensesAbstract" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="presentation: StatementLineItems to IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="IncomeTaxExpenseBenefit" xlink:title="IncomeTaxExpenseBenefit" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="IncomeTaxExpenseBenefit" xlink:title="presentation: StatementLineItems to IncomeTaxExpenseBenefit" order="8.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="NetIncomeLoss" xlink:title="presentation: StatementLineItems to NetIncomeLoss" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="presentation: StatementLineItems to OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="ComprehensiveIncomeNetOfTax" xlink:title="ComprehensiveIncomeNetOfTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="ComprehensiveIncomeNetOfTax" xlink:title="presentation: StatementLineItems to ComprehensiveIncomeNetOfTax" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="EarningsPerShareBasic" xlink:title="EarningsPerShareBasic" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="EarningsPerShareBasic" xlink:title="presentation: EarningsPerShareAbstract to EarningsPerShareBasic" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="EarningsPerShareDiluted" xlink:title="EarningsPerShareDiluted" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="EarningsPerShareDiluted" xlink:title="presentation: EarningsPerShareAbstract to EarningsPerShareDiluted" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="EarningsPerShareAbstract" xlink:title="presentation: StatementLineItems to EarningsPerShareAbstract" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="WeightedAverageNumberOfSharesOutstandingAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="WeightedAverageNumberOfSharesOutstandingBasic" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="presentation: WeightedAverageNumberOfSharesOutstandingAbstract to WeightedAverageNumberOfSharesOutstandingBasic" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="WeightedAverageNumberOfDilutedSharesOutstanding" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="presentation: WeightedAverageNumberOfSharesOutstandingAbstract to WeightedAverageNumberOfDilutedSharesOutstanding" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="presentation: StatementLineItems to WeightedAverageNumberOfSharesOutstandingAbstract" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementTable" xlink:to="StatementLineItems" xlink:title="presentation: StatementTable to StatementLineItems" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeStatementAbstract" xlink:to="StatementTable" xlink:title="presentation: IncomeStatementAbstract to StatementTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementOfShareholdersEquityUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="StatementOfStockholdersEquityAbstract" xlink:title="StatementOfStockholdersEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="StatementEquityComponentsAxis" xlink:title="StatementEquityComponentsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="PreferredStockMember" xlink:title="PreferredStockMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementEquityComponentsAxis" xlink:to="PreferredStockMember" xlink:title="presentation: StatementEquityComponentsAxis to PreferredStockMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementEquityComponentsAxis" xlink:to="CommonStockMember" xlink:title="presentation: StatementEquityComponentsAxis to CommonStockMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="AdditionalPaidInCapitalMember" xlink:title="AdditionalPaidInCapitalMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementEquityComponentsAxis" xlink:to="AdditionalPaidInCapitalMember" xlink:title="presentation: StatementEquityComponentsAxis to AdditionalPaidInCapitalMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="AccumulatedOtherComprehensiveIncomeMember" xlink:title="AccumulatedOtherComprehensiveIncomeMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementEquityComponentsAxis" xlink:to="AccumulatedOtherComprehensiveIncomeMember" xlink:title="presentation: StatementEquityComponentsAxis to AccumulatedOtherComprehensiveIncomeMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementEquityComponentsAxis" xlink:to="RetainedEarningsMember" xlink:title="presentation: StatementEquityComponentsAxis to RetainedEarningsMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain" xlink:title="EquityComponentDomain" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementEquityComponentsAxis" xlink:to="EquityComponentDomain" xlink:title="presentation: StatementEquityComponentsAxis to EquityComponentDomain" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementTable" xlink:to="StatementEquityComponentsAxis" xlink:title="presentation: StatementTable to StatementEquityComponentsAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionAxis" xlink:label="CumulativeEffectPeriodOfAdoptionAxis" xlink:title="CumulativeEffectPeriodOfAdoptionAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionDomain" xlink:label="CumulativeEffectPeriodOfAdoptionDomain" xlink:title="CumulativeEffectPeriodOfAdoptionDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:label="CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:title="CumulativeEffectPeriodOfAdoptionAdjustmentMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CumulativeEffectPeriodOfAdoptionDomain" xlink:to="CumulativeEffectPeriodOfAdoptionAdjustmentMember" xlink:title="presentation: CumulativeEffectPeriodOfAdoptionDomain to CumulativeEffectPeriodOfAdoptionAdjustmentMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CumulativeEffectPeriodOfAdoptionAxis" xlink:to="CumulativeEffectPeriodOfAdoptionDomain" xlink:title="presentation: CumulativeEffectPeriodOfAdoptionAxis to CumulativeEffectPeriodOfAdoptionDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementTable" xlink:to="CumulativeEffectPeriodOfAdoptionAxis" xlink:title="presentation: StatementTable to CumulativeEffectPeriodOfAdoptionAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="IncreaseDecreaseInStockholdersEquityRollForward" xlink:title="IncreaseDecreaseInStockholdersEquityRollForward" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockholdersEquity" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to StockholdersEquity" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="SharesOutstanding" xlink:title="SharesOutstanding" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="SharesOutstanding" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to SharesOutstanding" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:title="StockIssuedDuringPeriodValueStockOptionsExercised" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to StockIssuedDuringPeriodValueStockOptionsExercised" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="StockIssuedDuringPeriodSharesStockOptionsExercised" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to StockIssuedDuringPeriodSharesStockOptionsExercised" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:label="StockIssuedDuringPeriodValueIssuedForServices" xlink:title="StockIssuedDuringPeriodValueIssuedForServices" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockIssuedDuringPeriodValueIssuedForServices" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to StockIssuedDuringPeriodValueIssuedForServices" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:label="StockIssuedDuringPeriodSharesIssuedForServices" xlink:title="StockIssuedDuringPeriodSharesIssuedForServices" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockIssuedDuringPeriodSharesIssuedForServices" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to StockIssuedDuringPeriodSharesIssuedForServices" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:label="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="NetIncomeLoss" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to NetIncomeLoss" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity_2" xlink:title="StockholdersEquity" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockholdersEquity_2" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to StockholdersEquity" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="SharesOutstanding_2" xlink:title="SharesOutstanding" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="SharesOutstanding_2" xlink:title="presentation: IncreaseDecreaseInStockholdersEquityRollForward to SharesOutstanding" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementLineItems" xlink:to="IncreaseDecreaseInStockholdersEquityRollForward" xlink:title="presentation: StatementLineItems to IncreaseDecreaseInStockholdersEquityRollForward" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementTable" xlink:to="StatementLineItems" xlink:title="presentation: StatementTable to StatementLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfStockholdersEquityAbstract" xlink:to="StatementTable" xlink:title="presentation: StatementOfStockholdersEquityAbstract to StatementTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="NetIncomeLoss" xlink:title="presentation: NetCashProvidedByUsedInOperatingActivitiesAbstract to NetIncomeLoss" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="ShareBasedCompensation" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to ShareBasedCompensation" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="DepreciationDepletionAndAmortization" xlink:title="DepreciationDepletionAndAmortization" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="DepreciationDepletionAndAmortization" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to DepreciationDepletionAndAmortization" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="ProvisionForDoubtfulAccounts" xlink:title="ProvisionForDoubtfulAccounts" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="ProvisionForDoubtfulAccounts" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to ProvisionForDoubtfulAccounts" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromEquityMethodInvestments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="IncomeLossFromEquityMethodInvestments" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to IncomeLossFromEquityMethodInvestments" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InterestIncomeAndOtherNonCashItems" xlink:label="InterestIncomeAndOtherNonCashItems" xlink:title="InterestIncomeAndOtherNonCashItems" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="InterestIncomeAndOtherNonCashItems" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to InterestIncomeAndOtherNonCashItems" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestIncomeRelatedParty" xlink:label="InterestIncomeRelatedParty" xlink:title="InterestIncomeRelatedParty" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="InterestIncomeRelatedParty" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to InterestIncomeRelatedParty" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="DeferredIncomeTaxExpenseBenefit" xlink:title="DeferredIncomeTaxExpenseBenefit" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="DeferredIncomeTaxExpenseBenefit" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to DeferredIncomeTaxExpenseBenefit" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:label="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:title="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" xlink:title="presentation: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="presentation: NetCashProvidedByUsedInOperatingActivitiesAbstract to AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="IncreaseDecreaseInOperatingCapitalAbstract" xlink:title="IncreaseDecreaseInOperatingCapitalAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInLandDevelopmentInventories" xlink:label="IncreaseDecreaseInLandDevelopmentInventories" xlink:title="IncreaseDecreaseInLandDevelopmentInventories" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInLandDevelopmentInventories" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInLandDevelopmentInventories" order="0.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="IncreaseDecreaseInAccountsReceivable" xlink:title="IncreaseDecreaseInAccountsReceivable" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInAccountsReceivable" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInAccountsReceivable" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:label="IncreaseDecreaseInPrepaidExpense" xlink:title="IncreaseDecreaseInPrepaidExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInPrepaidExpense" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInPrepaidExpense" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties" xlink:label="IncreaseDecreaseInNotesReceivableRelatedParties" xlink:title="IncreaseDecreaseInNotesReceivableRelatedParties" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInNotesReceivableRelatedParties" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInNotesReceivableRelatedParties" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="IncreaseDecreaseInOtherOperatingAssets" xlink:title="IncreaseDecreaseInOtherOperatingAssets" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInOtherOperatingAssets" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInOtherOperatingAssets" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:title="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInIncomeTaxes" xlink:label="IncreaseDecreaseInIncomeTaxes" xlink:title="IncreaseDecreaseInIncomeTaxes" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInIncomeTaxes" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInIncomeTaxes" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xlink:label="IncreaseDecreaseInContractWithCustomerLiability" xlink:title="IncreaseDecreaseInContractWithCustomerLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInContractWithCustomerLiability" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInContractWithCustomerLiability" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInDeferredRevenueLeases" xlink:label="IncreaseDecreaseInDeferredRevenueLeases" xlink:title="IncreaseDecreaseInDeferredRevenueLeases" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInDeferredRevenueLeases" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInDeferredRevenueLeases" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncreaseDecreaseInOperatingLeaseLiabilities" xlink:label="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:title="IncreaseDecreaseInOperatingLeaseLiabilities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="IncreaseDecreaseInOperatingLeaseLiabilities" xlink:title="presentation: IncreaseDecreaseInOperatingCapitalAbstract to IncreaseDecreaseInOperatingLeaseLiabilities" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="IncreaseDecreaseInOperatingCapitalAbstract" xlink:title="presentation: NetCashProvidedByUsedInOperatingActivitiesAbstract to IncreaseDecreaseInOperatingCapitalAbstract" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="NetCashProvidedByUsedInOperatingActivities" xlink:title="NetCashProvidedByUsedInOperatingActivities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="NetCashProvidedByUsedInOperatingActivities" xlink:title="presentation: NetCashProvidedByUsedInOperatingActivitiesAbstract to NetCashProvidedByUsedInOperatingActivities" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="presentation: StatementOfCashFlowsAbstract to NetCashProvidedByUsedInOperatingActivitiesAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInInvestingActivitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:label="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:title="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" xlink:title="presentation: NetCashProvidedByUsedInInvestingActivitiesAbstract to ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments" xlink:label="PaymentsToAcquireShortTermInvestments" xlink:title="PaymentsToAcquireShortTermInvestments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="PaymentsToAcquireShortTermInvestments" xlink:title="presentation: NetCashProvidedByUsedInInvestingActivitiesAbstract to PaymentsToAcquireShortTermInvestments" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsToAcquireWaterWaterSystemsAndLand" xlink:label="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:title="PaymentsToAcquireWaterWaterSystemsAndLand" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="PaymentsToAcquireWaterWaterSystemsAndLand" xlink:title="presentation: NetCashProvidedByUsedInInvestingActivitiesAbstract to PaymentsToAcquireWaterWaterSystemsAndLand" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:label="PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:title="PaymentsToAcquireOtherPropertyPlantAndEquipment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:title="presentation: NetCashProvidedByUsedInInvestingActivitiesAbstract to PaymentsToAcquireOtherPropertyPlantAndEquipment" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="NetCashProvidedByUsedInInvestingActivities" xlink:title="NetCashProvidedByUsedInInvestingActivities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="NetCashProvidedByUsedInInvestingActivities" xlink:title="presentation: NetCashProvidedByUsedInInvestingActivitiesAbstract to NetCashProvidedByUsedInInvestingActivities" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:title="presentation: StatementOfCashFlowsAbstract to NetCashProvidedByUsedInInvestingActivitiesAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="ProceedsFromStockOptionsExercised" xlink:title="ProceedsFromStockOptionsExercised" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="ProceedsFromStockOptionsExercised" xlink:title="presentation: NetCashProvidedByUsedInFinancingActivitiesAbstract to ProceedsFromStockOptionsExercised" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsToContingentLiabilityHolders" xlink:label="PaymentsToContingentLiabilityHolders" xlink:title="PaymentsToContingentLiabilityHolders" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="PaymentsToContingentLiabilityHolders" xlink:title="presentation: NetCashProvidedByUsedInFinancingActivitiesAbstract to PaymentsToContingentLiabilityHolders" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="NetCashProvidedByUsedInFinancingActivities" xlink:title="NetCashProvidedByUsedInFinancingActivities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="NetCashProvidedByUsedInFinancingActivities" xlink:title="presentation: NetCashProvidedByUsedInFinancingActivitiesAbstract to NetCashProvidedByUsedInFinancingActivities" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:title="presentation: StatementOfCashFlowsAbstract to NetCashProvidedByUsedInFinancingActivitiesAbstract" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:title="presentation: StatementOfCashFlowsAbstract to CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:title="presentation: StatementOfCashFlowsAbstract to CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_2" xlink:title="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_2" xlink:title="presentation: StatementOfCashFlowsAbstract to CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="SupplementalCashFlowElementsAbstract" xlink:title="SupplementalCashFlowElementsAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:label="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:title="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SupplementalCashFlowElementsAbstract" xlink:to="ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" xlink:title="presentation: SupplementalCashFlowElementsAbstract to ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:label="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:title="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SupplementalCashFlowElementsAbstract" xlink:to="ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" xlink:title="presentation: SupplementalCashFlowElementsAbstract to ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="IncomeTaxesPaidNet" xlink:title="IncomeTaxesPaidNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SupplementalCashFlowElementsAbstract" xlink:to="IncomeTaxesPaidNet" xlink:title="presentation: SupplementalCashFlowElementsAbstract to IncomeTaxesPaidNet" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementOfCashFlowsAbstract" xlink:to="SupplementalCashFlowElementsAbstract" xlink:title="presentation: StatementOfCashFlowsAbstract to SupplementalCashFlowElementsAbstract" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformation">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:label="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:title="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/FairValueMeasurements">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="FairValueDisclosuresAbstract" xlink:title="FairValueDisclosuresAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="FairValueDisclosuresTextBlock" xlink:title="FairValueDisclosuresTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueDisclosuresAbstract" xlink:to="FairValueDisclosuresTextBlock" xlink:title="presentation: FairValueDisclosuresAbstract to FairValueDisclosuresTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/WaterAndLandAssets">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="PropertyPlantAndEquipmentAbstract" xlink:title="PropertyPlantAndEquipmentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="PropertyPlantAndEquipmentDisclosureTextBlock" xlink:title="PropertyPlantAndEquipmentDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentAbstract" xlink:to="PropertyPlantAndEquipmentDisclosureTextBlock" xlink:title="presentation: PropertyPlantAndEquipmentAbstract to PropertyPlantAndEquipmentDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLease">
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LongTermObligationsAndOperatingLeaseAbstract" xlink:label="LongTermObligationsAndOperatingLeaseAbstract" xlink:title="LongTermObligationsAndOperatingLeaseAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:label="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:title="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="LongTermObligationsAndOperatingLeaseDisclosureTextBlock" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to LongTermObligationsAndOperatingLeaseDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquity">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:title="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:title="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:title="presentation: DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract to DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/RelatedPartyTransactions">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="RelatedPartyTransactionsAbstract" xlink:title="RelatedPartyTransactionsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="RelatedPartyTransactionsDisclosureTextBlock" xlink:title="RelatedPartyTransactionsDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionsAbstract" xlink:to="RelatedPartyTransactionsDisclosureTextBlock" xlink:title="presentation: RelatedPartyTransactionsAbstract to RelatedPartyTransactionsDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SignificantCustomers">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RisksAndUncertaintiesAbstract" xlink:label="RisksAndUncertaintiesAbstract" xlink:title="RisksAndUncertaintiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="ConcentrationRiskDisclosureTextBlock" xlink:title="ConcentrationRiskDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RisksAndUncertaintiesAbstract" xlink:to="ConcentrationRiskDisclosureTextBlock" xlink:title="presentation: RisksAndUncertaintiesAbstract to ConcentrationRiskDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/AccruedLiabilities">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PayablesAndAccrualsAbstract" xlink:label="PayablesAndAccrualsAbstract" xlink:title="PayablesAndAccrualsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:title="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:title="presentation: PayablesAndAccrualsAbstract to AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/CommitmentsAndContingencies">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="CommitmentsAndContingenciesDisclosureAbstract" xlink:title="CommitmentsAndContingenciesDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="CommitmentsAndContingenciesDisclosureTextBlock" xlink:title="CommitmentsAndContingenciesDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CommitmentsAndContingenciesDisclosureAbstract" xlink:to="CommitmentsAndContingenciesDisclosureTextBlock" xlink:title="presentation: CommitmentsAndContingenciesDisclosureAbstract to CommitmentsAndContingenciesDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentInformation">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="SegmentReportingAbstract" xlink:title="SegmentReportingAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="SegmentReportingDisclosureTextBlock" xlink:title="SegmentReportingDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingAbstract" xlink:to="SegmentReportingDisclosureTextBlock" xlink:title="presentation: SegmentReportingAbstract to SegmentReportingDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/IncomeTaxes">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="IncomeTaxDisclosureAbstract" xlink:title="IncomeTaxDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="IncomeTaxDisclosureTextBlock" xlink:title="IncomeTaxDisclosureTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="IncomeTaxDisclosureTextBlock" xlink:title="presentation: IncomeTaxDisclosureAbstract to IncomeTaxDisclosureTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationPolicies">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="BasisOfAccountingPolicyPolicyTextBlock" xlink:title="BasisOfAccountingPolicyPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="BasisOfAccountingPolicyPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to BasisOfAccountingPolicyPolicyTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="PriorPeriodReclassificationAdjustmentDescription" xlink:title="PriorPeriodReclassificationAdjustmentDescription" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="PriorPeriodReclassificationAdjustmentDescription" xlink:title="presentation: AccountingPoliciesAbstract to PriorPeriodReclassificationAdjustmentDescription" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="UseOfEstimates" xlink:title="UseOfEstimates" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="UseOfEstimates" xlink:title="presentation: AccountingPoliciesAbstract to UseOfEstimates" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="CashAndCashEquivalentsPolicyTextBlock" xlink:title="CashAndCashEquivalentsPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="CashAndCashEquivalentsPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to CashAndCashEquivalentsPolicyTextBlock" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentInventoriesPolicyTextBlock" xlink:label="LandDevelopmentInventoriesPolicyTextBlock" xlink:title="LandDevelopmentInventoriesPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="LandDevelopmentInventoriesPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to LandDevelopmentInventoriesPolicyTextBlock" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractAssetPolicyTextBlock" xlink:label="ContractAssetPolicyTextBlock" xlink:title="ContractAssetPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ContractAssetPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to ContractAssetPolicyTextBlock" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:label="InvestmentPolicyTextBlock" xlink:title="InvestmentPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="InvestmentPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to InvestmentPolicyTextBlock" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:label="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:title="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:label="RevenueFromContractWithCustomerPolicyTextBlock" xlink:title="RevenueFromContractWithCustomerPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="RevenueFromContractWithCustomerPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to RevenueFromContractWithCustomerPolicyTextBlock" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="InventoryPolicyTextBlock" xlink:title="InventoryPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="InventoryPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to InventoryPolicyTextBlock" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RoyaltyAndOtherObligationsPolicyTextBlock" xlink:label="RoyaltyAndOtherObligationsPolicyTextBlock" xlink:title="RoyaltyAndOtherObligationsPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="RoyaltyAndOtherObligationsPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to RoyaltyAndOtherObligationsPolicyTextBlock" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeLeasesPolicyTextBlock" xlink:label="LesseeLeasesPolicyTextBlock" xlink:title="LesseeLeasesPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="LesseeLeasesPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to LesseeLeasesPolicyTextBlock" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:label="DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:title="DeferredRevenueFromContractWithCustomerPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="DeferredRevenueFromContractWithCustomerPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to DeferredRevenueFromContractWithCustomerPolicyTextBlock" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:title="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:label="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:title="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:title="ShareBasedCompensationOptionAndIncentivePlansPolicy" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:title="presentation: AccountingPoliciesAbstract to ShareBasedCompensationOptionAndIncentivePlansPolicy" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="IncomeTaxPolicyTextBlock" xlink:title="IncomeTaxPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="IncomeTaxPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to IncomeTaxPolicyTextBlock" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="EarningsPerSharePolicyTextBlock" xlink:title="EarningsPerSharePolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="EarningsPerSharePolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to EarningsPerSharePolicyTextBlock" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:title="NewAccountingPronouncementsPolicyPolicyTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to NewAccountingPronouncementsPolicyPolicyTextBlock" order="18.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationTables">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ScheduleOfReimbursableCostsTableTextBlock" xlink:label="ScheduleOfReimbursableCostsTableTextBlock" xlink:title="ScheduleOfReimbursableCostsTableTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ScheduleOfReimbursableCostsTableTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to ScheduleOfReimbursableCostsTableTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:label="ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:title="ContractWithCustomerAssetAndLiabilityTableTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:title="presentation: AccountingPoliciesAbstract to ContractWithCustomerAssetAndLiabilityTableTextBlock" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/FairValueMeasurementsTables">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="FairValueDisclosuresAbstract" xlink:title="FairValueDisclosuresAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:label="FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:title="FairValueAssetsMeasuredOnRecurringBasisTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueDisclosuresAbstract" xlink:to="FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:title="presentation: FairValueDisclosuresAbstract to FairValueAssetsMeasuredOnRecurringBasisTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/WaterAndLandAssetsTables">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="PropertyPlantAndEquipmentAbstract" xlink:title="PropertyPlantAndEquipmentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="PropertyPlantAndEquipmentTextBlock" xlink:title="PropertyPlantAndEquipmentTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentAbstract" xlink:to="PropertyPlantAndEquipmentTextBlock" xlink:title="presentation: PropertyPlantAndEquipmentAbstract to PropertyPlantAndEquipmentTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseTables">
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LongTermObligationsAndOperatingLeaseAbstract" xlink:label="LongTermObligationsAndOperatingLeaseAbstract" xlink:title="LongTermObligationsAndOperatingLeaseAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" xlink:label="ScheduleOfDebtTableTextBlock" xlink:title="ScheduleOfDebtTableTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="ScheduleOfDebtTableTextBlock" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to ScheduleOfDebtTableTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:label="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:title="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquityTables">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:title="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:title="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:title="presentation: DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract to ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock" xlink:label="ScheduleOfNonvestedShareActivityTableTextBlock" xlink:title="ScheduleOfNonvestedShareActivityTableTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="ScheduleOfNonvestedShareActivityTableTextBlock" xlink:title="presentation: DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract to ScheduleOfNonvestedShareActivityTableTextBlock" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentInformationTables">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="SegmentReportingAbstract" xlink:title="SegmentReportingAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingAbstract" xlink:to="ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:title="presentation: SegmentReportingAbstract to ScheduleOfSegmentReportingInformationBySegmentTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/IncomeTaxesTables">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="IncomeTaxDisclosureAbstract" xlink:title="IncomeTaxDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:title="ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:title="presentation: IncomeTaxDisclosureAbstract to ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationCaresActDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:label="ScheduleOfShortTermDebtTable" xlink:title="ScheduleOfShortTermDebtTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="DebtInstrumentAxis" xlink:title="DebtInstrumentAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="DebtInstrumentNameDomain" xlink:title="DebtInstrumentNameDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaycheckProtectionProgramLoanMember" xlink:label="PaycheckProtectionProgramLoanMember" xlink:title="PaycheckProtectionProgramLoanMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DebtInstrumentNameDomain" xlink:to="PaycheckProtectionProgramLoanMember" xlink:title="presentation: DebtInstrumentNameDomain to PaycheckProtectionProgramLoanMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DebtInstrumentAxis" xlink:to="DebtInstrumentNameDomain" xlink:title="presentation: DebtInstrumentAxis to DebtInstrumentNameDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShortTermDebtTable" xlink:to="DebtInstrumentAxis" xlink:title="presentation: ScheduleOfShortTermDebtTable to DebtInstrumentAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="ShortTermDebtLineItems" xlink:title="ShortTermDebtLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtCurrentAbstract" xlink:label="DebtCurrentAbstract" xlink:title="DebtCurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="DebtInstrumentFaceAmount" xlink:title="DebtInstrumentFaceAmount" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DebtCurrentAbstract" xlink:to="DebtInstrumentFaceAmount" xlink:title="presentation: DebtCurrentAbstract to DebtInstrumentFaceAmount" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="RepaymentsOfNotesPayable" xlink:title="RepaymentsOfNotesPayable" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DebtCurrentAbstract" xlink:to="RepaymentsOfNotesPayable" xlink:title="presentation: DebtCurrentAbstract to RepaymentsOfNotesPayable" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShortTermDebtLineItems" xlink:to="DebtCurrentAbstract" xlink:title="presentation: ShortTermDebtLineItems to DebtCurrentAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShortTermDebtTable" xlink:to="ShortTermDebtLineItems" xlink:title="presentation: ScheduleOfShortTermDebtTable to ShortTermDebtLineItems" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ScheduleOfShortTermDebtTable" xlink:title="presentation: AccountingPoliciesAbstract to ScheduleOfShortTermDebtTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationLandDevelopmentInventoriesDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryGrossAbstract" xlink:label="InventoryGrossAbstract" xlink:title="InventoryGrossAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AreaOfLand" xlink:label="AreaOfLand" xlink:title="AreaOfLand" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InventoryGrossAbstract" xlink:to="AreaOfLand" xlink:title="presentation: InventoryGrossAbstract to AreaOfLand" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="InventoryGrossAbstract" xlink:title="presentation: AccountingPoliciesAbstract to InventoryGrossAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationInvestmentsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentsAbstract" xlink:label="InvestmentsAbstract" xlink:title="InvestmentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtSecurities" xlink:label="DebtSecurities" xlink:title="DebtSecurities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InvestmentsAbstract" xlink:to="DebtSecurities" xlink:title="presentation: InvestmentsAbstract to DebtSecurities" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="InvestmentsAbstract" xlink:title="presentation: AccountingPoliciesAbstract to InvestmentsAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationRevenueRecognitionDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MeteredWaterUsageMember" xlink:label="MeteredWaterUsageMember" xlink:title="MeteredWaterUsageMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="MeteredWaterUsageMember" xlink:title="presentation: ProductsAndServicesDomain to MeteredWaterUsageMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterTapFeeMember" xlink:label="WaterTapFeeMember" xlink:title="WaterTapFeeMember" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:label="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:title="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="WaterTapFeeMember" xlink:to="WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" xlink:title="presentation: WaterTapFeeMember to WaterTapFeesRecognizedExcludingWastewaterTapFeeMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WastewaterTapFeeMember" xlink:label="WastewaterTapFeeMember" xlink:title="WastewaterTapFeeMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="WaterTapFeeMember" xlink:to="WastewaterTapFeeMember" xlink:title="presentation: WaterTapFeeMember to WastewaterTapFeeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="WaterTapFeeMember" xlink:title="presentation: ProductsAndServicesDomain to WaterTapFeeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SpecialFacilityFundingRecognizedMember" xlink:label="SpecialFacilityFundingRecognizedMember" xlink:title="SpecialFacilityFundingRecognizedMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="SpecialFacilityFundingRecognizedMember" xlink:title="presentation: ProductsAndServicesDomain to SpecialFacilityFundingRecognizedMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConsultingFeesMember" xlink:label="ConsultingFeesMember" xlink:title="ConsultingFeesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="ConsultingFeesMember" xlink:title="presentation: ProductsAndServicesDomain to ConsultingFeesMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesMember" xlink:label="LotSalesMember" xlink:title="LotSalesMember" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesFirstFormatMember" xlink:label="LotSalesFirstFormatMember" xlink:title="LotSalesFirstFormatMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LotSalesMember" xlink:to="LotSalesFirstFormatMember" xlink:title="presentation: LotSalesMember to LotSalesFirstFormatMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LotSalesSecondFormatMember" xlink:label="LotSalesSecondFormatMember" xlink:title="LotSalesSecondFormatMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LotSalesMember" xlink:to="LotSalesSecondFormatMember" xlink:title="presentation: LotSalesMember to LotSalesSecondFormatMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="LotSalesMember" xlink:title="presentation: ProductsAndServicesDomain to LotSalesMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesMember" xlink:label="ProjectManagementServicesMember" xlink:title="ProjectManagementServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="ProjectManagementServicesMember" xlink:title="presentation: ProductsAndServicesDomain to ProjectManagementServicesMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="presentation: ProductOrServiceAxis to ProductsAndServicesDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="ProductOrServiceAxis" xlink:title="presentation: DisaggregationOfRevenueTable to ProductOrServiceAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="RelatedPartyTransactionAxis" xlink:title="RelatedPartyTransactionAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain" xlink:title="RelatedPartyTransactionDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FacilitiesFundingAndAcquisitionAgreementMember" xlink:label="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="FacilitiesFundingAndAcquisitionAgreementMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="presentation: RelatedPartyTransactionDomain to FacilitiesFundingAndAcquisitionAgreementMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain" xlink:title="presentation: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="RelatedPartyTransactionAxis" xlink:title="presentation: DisaggregationOfRevenueTable to RelatedPartyTransactionAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="presentation: RangeMember to MaximumMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="presentation: RangeAxis to RangeMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="RangeAxis" xlink:title="presentation: DisaggregationOfRevenueTable to RangeAxis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="LongtermDebtTypeAxis" xlink:title="LongtermDebtTypeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="LongtermDebtTypeDomain" xlink:title="LongtermDebtTypeDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="SeniorNotesMember" xlink:title="SeniorNotesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongtermDebtTypeDomain" xlink:to="SeniorNotesMember" xlink:title="presentation: LongtermDebtTypeDomain to SeniorNotesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SeniorSubordinatedNotesMember" xlink:label="SeniorSubordinatedNotesMember" xlink:title="SeniorSubordinatedNotesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongtermDebtTypeDomain" xlink:to="SeniorSubordinatedNotesMember" xlink:title="presentation: LongtermDebtTypeDomain to SeniorSubordinatedNotesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongtermDebtTypeAxis" xlink:to="LongtermDebtTypeDomain" xlink:title="presentation: LongtermDebtTypeAxis to LongtermDebtTypeDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="LongtermDebtTypeAxis" xlink:title="presentation: DisaggregationOfRevenueTable to LongtermDebtTypeAxis" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueAbstract" xlink:label="DisaggregationOfRevenueAbstract" xlink:title="DisaggregationOfRevenueAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfBusinessLines" xlink:label="NumberOfBusinessLines" xlink:title="NumberOfBusinessLines" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="NumberOfBusinessLines" xlink:title="presentation: DisaggregationOfRevenueAbstract to NumberOfBusinessLines" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfRevenueSources" xlink:label="NumberOfRevenueSources" xlink:title="NumberOfRevenueSources" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="NumberOfRevenueSources" xlink:title="presentation: DisaggregationOfRevenueAbstract to NumberOfRevenueSources" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterDeliveredToCustomers" xlink:label="WaterDeliveredToCustomers" xlink:title="WaterDeliveredToCustomers" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="WaterDeliveredToCustomers" xlink:title="presentation: DisaggregationOfRevenueAbstract to WaterDeliveredToCustomers" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfWaterUsedForOilAndGasExploration" xlink:label="PercentageOfWaterUsedForOilAndGasExploration" xlink:title="PercentageOfWaterUsedForOilAndGasExploration" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="PercentageOfWaterUsedForOilAndGasExploration" xlink:title="presentation: DisaggregationOfRevenueAbstract to PercentageOfWaterUsedForOilAndGasExploration" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="presentation: DisaggregationOfRevenueAbstract to RevenueFromContractWithCustomerExcludingAssessedTax" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent" xlink:label="ContractWithCustomerLiabilityCurrent" xlink:title="ContractWithCustomerLiabilityCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueAbstract" xlink:to="ContractWithCustomerLiabilityCurrent" xlink:title="presentation: DisaggregationOfRevenueAbstract to ContractWithCustomerLiabilityCurrent" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="DisaggregationOfRevenueAbstract" xlink:title="presentation: DisaggregationOfRevenueLineItems to DisaggregationOfRevenueAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAbstract" xlink:label="LandAbstract" xlink:title="LandAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AreaOfLand" xlink:label="AreaOfLand" xlink:title="AreaOfLand" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="AreaOfLand" xlink:title="presentation: LandAbstract to AreaOfLand" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromCustomersForProgressPayments" xlink:label="ProceedsFromCustomersForProgressPayments" xlink:title="ProceedsFromCustomersForProgressPayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="ProceedsFromCustomersForProgressPayments" xlink:title="presentation: LandAbstract to ProceedsFromCustomersForProgressPayments" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfHomeBuilders" xlink:label="NumberOfHomeBuilders" xlink:title="NumberOfHomeBuilders" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="NumberOfHomeBuilders" xlink:title="presentation: LandAbstract to NumberOfHomeBuilders" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfPlattedLotsSold" xlink:label="NumberOfPlattedLotsSold" xlink:title="NumberOfPlattedLotsSold" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="NumberOfPlattedLotsSold" xlink:title="presentation: LandAbstract to NumberOfPlattedLotsSold" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfFinishedLotsSold" xlink:label="NumberOfFinishedLotsSold" xlink:title="NumberOfFinishedLotsSold" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="NumberOfFinishedLotsSold" xlink:title="presentation: LandAbstract to NumberOfFinishedLotsSold" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="ContractWithCustomerLiabilityRevenueRecognized" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="presentation: LandAbstract to ContractWithCustomerLiabilityRevenueRecognized" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedDeliveryPeriodForLotsSold" xlink:label="ExpectedDeliveryPeriodForLotsSold" xlink:title="ExpectedDeliveryPeriodForLotsSold" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="ExpectedDeliveryPeriodForLotsSold" xlink:title="presentation: LandAbstract to ExpectedDeliveryPeriodForLotsSold" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="DebtInstrumentInterestRateStatedPercentage" xlink:title="DebtInstrumentInterestRateStatedPercentage" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="DebtInstrumentInterestRateStatedPercentage" xlink:title="presentation: LandAbstract to DebtInstrumentInterestRateStatedPercentage" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredInterestIncome" xlink:label="DeferredInterestIncome" xlink:title="DeferredInterestIncome" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="DeferredInterestIncome" xlink:title="presentation: LandAbstract to DeferredInterestIncome" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="DebtInstrumentFaceAmount" xlink:title="DebtInstrumentFaceAmount" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="DebtInstrumentFaceAmount" xlink:title="presentation: LandAbstract to DebtInstrumentFaceAmount" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:label="ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:title="ProceedsFromIssuanceOfSecuredTaxExemptDebt" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="ProceedsFromIssuanceOfSecuredTaxExemptDebt" xlink:title="presentation: LandAbstract to ProceedsFromIssuanceOfSecuredTaxExemptDebt" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:label="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:title="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" xlink:title="presentation: LandAbstract to NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursementOfConstructionCostsRelatedParty" xlink:label="ReimbursementOfConstructionCostsRelatedParty" xlink:title="ReimbursementOfConstructionCostsRelatedParty" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="ReimbursementOfConstructionCostsRelatedParty" xlink:title="presentation: LandAbstract to ReimbursementOfConstructionCostsRelatedParty" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:label="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:title="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" xlink:title="presentation: LandAbstract to PercentageOfExpectedIncreaseInRevenuesReimbursedCosts" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfServiceAgreementsProjects" xlink:label="NumberOfServiceAgreementsProjects" xlink:title="NumberOfServiceAgreementsProjects" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="NumberOfServiceAgreementsProjects" xlink:title="presentation: LandAbstract to NumberOfServiceAgreementsProjects" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyManagementFeePercentFee" xlink:label="PropertyManagementFeePercentFee" xlink:title="PropertyManagementFeePercentFee" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="PropertyManagementFeePercentFee" xlink:title="presentation: LandAbstract to PropertyManagementFeePercentFee" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesAccruedReimbursableAmount" xlink:label="ProjectManagementServicesAccruedReimbursableAmount" xlink:title="ProjectManagementServicesAccruedReimbursableAmount" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="ProjectManagementServicesAccruedReimbursableAmount" xlink:title="presentation: LandAbstract to ProjectManagementServicesAccruedReimbursableAmount" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConstructionSupportAmountInvoiced" xlink:label="ConstructionSupportAmountInvoiced" xlink:title="ConstructionSupportAmountInvoiced" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="ConstructionSupportAmountInvoiced" xlink:title="presentation: LandAbstract to ConstructionSupportAmountInvoiced" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="LandAbstract" xlink:title="presentation: DisaggregationOfRevenueLineItems to LandAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="DisaggregationOfRevenueLineItems" xlink:title="presentation: DisaggregationOfRevenueTable to DisaggregationOfRevenueLineItems" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="DisaggregationOfRevenueTable" xlink:title="presentation: AccountingPoliciesAbstract to DisaggregationOfRevenueTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PublicImprovementsMember" xlink:label="PublicImprovementsMember" xlink:title="PublicImprovementsMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="PublicImprovementsMember" xlink:title="presentation: ProductsAndServicesDomain to PublicImprovementsMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_AccruedInterestMember" xlink:label="AccruedInterestMember" xlink:title="AccruedInterestMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="AccruedInterestMember" xlink:title="presentation: ProductsAndServicesDomain to AccruedInterestMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectManagementServicesMember" xlink:label="ProjectManagementServicesMember" xlink:title="ProjectManagementServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="ProjectManagementServicesMember" xlink:title="presentation: ProductsAndServicesDomain to ProjectManagementServicesMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConstructionSupportActivitiesMember" xlink:label="ConstructionSupportActivitiesMember" xlink:title="ConstructionSupportActivitiesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="ConstructionSupportActivitiesMember" xlink:title="presentation: ProductsAndServicesDomain to ConstructionSupportActivitiesMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="presentation: ProductOrServiceAxis to ProductsAndServicesDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="ProductOrServiceAxis" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to ProductOrServiceAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="StatementScenarioAxis" xlink:title="StatementScenarioAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="ScenarioUnspecifiedDomain" xlink:title="ScenarioUnspecifiedDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="ScenarioForecastMember" xlink:title="ScenarioForecastMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScenarioUnspecifiedDomain" xlink:to="ScenarioForecastMember" xlink:title="presentation: ScenarioUnspecifiedDomain to ScenarioForecastMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementScenarioAxis" xlink:to="ScenarioUnspecifiedDomain" xlink:title="presentation: StatementScenarioAxis to ScenarioUnspecifiedDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="StatementScenarioAxis" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to StatementScenarioAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="RelatedPartyTransactionLineItems" xlink:title="RelatedPartyTransactionLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostsNetAbstract" xlink:label="ReimbursableCostsNetAbstract" xlink:title="ReimbursableCostsNetAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostGross" xlink:label="ReimbursableCostGross" xlink:title="ReimbursableCostGross" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReimbursableCostsNetAbstract" xlink:to="ReimbursableCostGross" xlink:title="presentation: ReimbursableCostsNetAbstract to ReimbursableCostGross" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PaymentsRepaidByCommunityAuthorityBoard" xlink:label="PaymentsRepaidByCommunityAuthorityBoard" xlink:title="PaymentsRepaidByCommunityAuthorityBoard" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReimbursableCostsNetAbstract" xlink:to="PaymentsRepaidByCommunityAuthorityBoard" xlink:title="presentation: ReimbursableCostsNetAbstract to PaymentsRepaidByCommunityAuthorityBoard" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ReimbursableCostNet" xlink:label="ReimbursableCostNet" xlink:title="ReimbursableCostNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReimbursableCostsNetAbstract" xlink:to="ReimbursableCostNet" xlink:title="presentation: ReimbursableCostsNetAbstract to ReimbursableCostNet" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="NumberOfRealEstateProperties" xlink:title="NumberOfRealEstateProperties" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReimbursableCostsNetAbstract" xlink:to="NumberOfRealEstateProperties" xlink:title="presentation: ReimbursableCostsNetAbstract to NumberOfRealEstateProperties" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionLineItems" xlink:to="ReimbursableCostsNetAbstract" xlink:title="presentation: RelatedPartyTransactionLineItems to ReimbursableCostsNetAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RelatedPartyTransactionLineItems" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RelatedPartyTransactionLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="presentation: AccountingPoliciesAbstract to ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="presentation: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="presentation: SegmentDomain to LandDevelopmentActivitiesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OilAndGasLeasesAndWaterSalesPaymentMember" xlink:label="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:title="OilAndGasLeasesAndWaterSalesPaymentMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="OilAndGasLeasesAndWaterSalesPaymentMember" xlink:title="presentation: SegmentDomain to OilAndGasLeasesAndWaterSalesPaymentMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="presentation: StatementBusinessSegmentsAxis to SegmentDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="presentation: DisaggregationOfRevenueTable to StatementBusinessSegmentsAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchMember" xlink:label="SkyRanchMember" xlink:title="SkyRanchMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyDomain" xlink:to="SkyRanchMember" xlink:title="presentation: RelatedPartyDomain to SkyRanchMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="presentation: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="presentation: DisaggregationOfRevenueTable to RelatedPartyTransactionsByRelatedPartyAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInContractAssetAbstract" xlink:label="ChangesInContractAssetAbstract" xlink:title="ChangesInContractAssetAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetNetCurrent" xlink:label="ContractWithCustomerAssetNetCurrent" xlink:title="ContractWithCustomerAssetNetCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInContractAssetAbstract" xlink:to="ContractWithCustomerAssetNetCurrent" xlink:title="presentation: ChangesInContractAssetAbstract to ContractWithCustomerAssetNetCurrent" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractWithCustomerAssetRecognitionOfContractAsset" xlink:label="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:title="ContractWithCustomerAssetRecognitionOfContractAsset" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInContractAssetAbstract" xlink:to="ContractWithCustomerAssetRecognitionOfContractAsset" xlink:title="presentation: ChangesInContractAssetAbstract to ContractWithCustomerAssetRecognitionOfContractAsset" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetReclassifiedToReceivable" xlink:label="ContractWithCustomerAssetReclassifiedToReceivable" xlink:title="ContractWithCustomerAssetReclassifiedToReceivable" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInContractAssetAbstract" xlink:to="ContractWithCustomerAssetReclassifiedToReceivable" xlink:title="presentation: ChangesInContractAssetAbstract to ContractWithCustomerAssetReclassifiedToReceivable" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetNetCurrent" xlink:label="ContractWithCustomerAssetNetCurrent_2" xlink:title="ContractWithCustomerAssetNetCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInContractAssetAbstract" xlink:to="ContractWithCustomerAssetNetCurrent_2" xlink:title="presentation: ChangesInContractAssetAbstract to ContractWithCustomerAssetNetCurrent" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ChangesInContractAssetAbstract" xlink:title="presentation: DisaggregationOfRevenueLineItems to ChangesInContractAssetAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ChangesInDeferredRevenueAbstract" xlink:label="ChangesInDeferredRevenueAbstract" xlink:title="ChangesInDeferredRevenueAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="ContractWithCustomerLiability" xlink:title="ContractWithCustomerLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInDeferredRevenueAbstract" xlink:to="ContractWithCustomerLiability" xlink:title="presentation: ChangesInDeferredRevenueAbstract to ContractWithCustomerLiability" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContractWithCustomerDeferralOfRevenue" xlink:label="ContractWithCustomerDeferralOfRevenue" xlink:title="ContractWithCustomerDeferralOfRevenue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInDeferredRevenueAbstract" xlink:to="ContractWithCustomerDeferralOfRevenue" xlink:title="presentation: ChangesInDeferredRevenueAbstract to ContractWithCustomerDeferralOfRevenue" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="ContractWithCustomerLiabilityRevenueRecognized" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInDeferredRevenueAbstract" xlink:to="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="presentation: ChangesInDeferredRevenueAbstract to ContractWithCustomerLiabilityRevenueRecognized" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="ContractWithCustomerLiability_2" xlink:title="ContractWithCustomerLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInDeferredRevenueAbstract" xlink:to="ContractWithCustomerLiability_2" xlink:title="presentation: ChangesInDeferredRevenueAbstract to ContractWithCustomerLiability" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueLeasesCurrent" xlink:label="DeferredRevenueLeasesCurrent" xlink:title="DeferredRevenueLeasesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ChangesInDeferredRevenueAbstract" xlink:to="DeferredRevenueLeasesCurrent" xlink:title="presentation: ChangesInDeferredRevenueAbstract to DeferredRevenueLeasesCurrent" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ChangesInDeferredRevenueAbstract" xlink:title="presentation: DisaggregationOfRevenueLineItems to ChangesInDeferredRevenueAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuePerformanceObligationAbstract" xlink:label="RevenuePerformanceObligationAbstract" xlink:title="RevenuePerformanceObligationAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligation" xlink:label="RevenueRemainingPerformanceObligation" xlink:title="RevenueRemainingPerformanceObligation" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenuePerformanceObligationAbstract" xlink:to="RevenueRemainingPerformanceObligation" xlink:title="presentation: RevenuePerformanceObligationAbstract to RevenueRemainingPerformanceObligation" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfUnsoldRealEstateProperties" xlink:label="NumberOfUnsoldRealEstateProperties" xlink:title="NumberOfUnsoldRealEstateProperties" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenuePerformanceObligationAbstract" xlink:to="NumberOfUnsoldRealEstateProperties" xlink:title="presentation: RevenuePerformanceObligationAbstract to NumberOfUnsoldRealEstateProperties" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="NumberOfRealEstateProperties" xlink:title="NumberOfRealEstateProperties" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenuePerformanceObligationAbstract" xlink:to="NumberOfRealEstateProperties" xlink:title="presentation: RevenuePerformanceObligationAbstract to NumberOfRealEstateProperties" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligationPercentage" xlink:label="RevenueRemainingPerformanceObligationPercentage" xlink:title="RevenueRemainingPerformanceObligationPercentage" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RevenuePerformanceObligationAbstract" xlink:to="RevenueRemainingPerformanceObligationPercentage" xlink:title="presentation: RevenuePerformanceObligationAbstract to RevenueRemainingPerformanceObligationPercentage" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="RevenuePerformanceObligationAbstract" xlink:title="presentation: DisaggregationOfRevenueLineItems to RevenuePerformanceObligationAbstract" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="DisaggregationOfRevenueLineItems" xlink:title="presentation: DisaggregationOfRevenueTable to DisaggregationOfRevenueLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="DisaggregationOfRevenueTable" xlink:title="presentation: AccountingPoliciesAbstract to DisaggregationOfRevenueTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationOilAndGasLeasePaymentsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OilAndGasLeasePaymentsAbstract" xlink:label="OilAndGasLeasePaymentsAbstract" xlink:title="OilAndGasLeasePaymentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductiveOilWellsNumberOfWellsNet" xlink:label="ProductiveOilWellsNumberOfWellsNet" xlink:title="ProductiveOilWellsNumberOfWellsNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OilAndGasLeasePaymentsAbstract" xlink:to="ProductiveOilWellsNumberOfWellsNet" xlink:title="presentation: OilAndGasLeasePaymentsAbstract to ProductiveOilWellsNumberOfWellsNet" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:label="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:title="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OilAndGasLeasePaymentsAbstract" xlink:to="ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" xlink:title="presentation: OilAndGasLeasePaymentsAbstract to ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RoyaltyIncomeNonoperating" xlink:label="RoyaltyIncomeNonoperating" xlink:title="RoyaltyIncomeNonoperating" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OilAndGasLeasePaymentsAbstract" xlink:to="RoyaltyIncomeNonoperating" xlink:title="presentation: OilAndGasLeasePaymentsAbstract to RoyaltyIncomeNonoperating" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="OilAndGasLeasePaymentsAbstract" xlink:title="presentation: AccountingPoliciesAbstract to OilAndGasLeasePaymentsAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationDeferredRevenueDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="DisaggregationOfRevenueTable" xlink:title="DisaggregationOfRevenueTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="ProductOrServiceAxis" xlink:title="ProductOrServiceAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="ProductsAndServicesDomain" xlink:title="ProductsAndServicesDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OAndGLeaseMember" xlink:label="OAndGLeaseMember" xlink:title="OAndGLeaseMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductsAndServicesDomain" xlink:to="OAndGLeaseMember" xlink:title="presentation: ProductsAndServicesDomain to OAndGLeaseMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ProductOrServiceAxis" xlink:to="ProductsAndServicesDomain" xlink:title="presentation: ProductOrServiceAxis to ProductsAndServicesDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="ProductOrServiceAxis" xlink:title="presentation: DisaggregationOfRevenueTable to ProductOrServiceAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="CounterpartyNameAxis" xlink:title="CounterpartyNameAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="RepurchaseAgreementCounterpartyNameDomain" xlink:title="RepurchaseAgreementCounterpartyNameDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_BisonOilAndGasLlpMember" xlink:label="BisonOilAndGasLlpMember" xlink:title="BisonOilAndGasLlpMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RepurchaseAgreementCounterpartyNameDomain" xlink:to="BisonOilAndGasLlpMember" xlink:title="presentation: RepurchaseAgreementCounterpartyNameDomain to BisonOilAndGasLlpMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CounterpartyNameAxis" xlink:to="RepurchaseAgreementCounterpartyNameDomain" xlink:title="presentation: CounterpartyNameAxis to RepurchaseAgreementCounterpartyNameDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="CounterpartyNameAxis" xlink:title="presentation: DisaggregationOfRevenueTable to CounterpartyNameAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OilAndGasMember" xlink:label="OilAndGasMember" xlink:title="OilAndGasMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="OilAndGasMember" xlink:title="presentation: SegmentDomain to OilAndGasMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="presentation: StatementBusinessSegmentsAxis to SegmentDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="presentation: DisaggregationOfRevenueTable to StatementBusinessSegmentsAxis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchMember" xlink:label="SkyRanchMember" xlink:title="SkyRanchMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyDomain" xlink:to="SkyRanchMember" xlink:title="presentation: RelatedPartyDomain to SkyRanchMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="presentation: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="presentation: DisaggregationOfRevenueTable to RelatedPartyTransactionsByRelatedPartyAxis" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="DisaggregationOfRevenueLineItems" xlink:title="DisaggregationOfRevenueLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandAbstract" xlink:label="LandAbstract" xlink:title="LandAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_GasAndOilAreaUndevelopedNet" xlink:label="GasAndOilAreaUndevelopedNet" xlink:title="GasAndOilAreaUndevelopedNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="GasAndOilAreaUndevelopedNet" xlink:title="presentation: LandAbstract to GasAndOilAreaUndevelopedNet" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredRevenueRevenueRecognizedTerm" xlink:label="DeferredRevenueRevenueRecognizedTerm" xlink:title="DeferredRevenueRevenueRecognizedTerm" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="DeferredRevenueRevenueRecognizedTerm" xlink:title="presentation: LandAbstract to DeferredRevenueRevenueRecognizedTerm" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TermForWhichOperatorMayExtendRight" xlink:label="TermForWhichOperatorMayExtendRight" xlink:title="TermForWhichOperatorMayExtendRight" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="TermForWhichOperatorMayExtendRight" xlink:title="presentation: LandAbstract to TermForWhichOperatorMayExtendRight" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:label="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:title="RequiredPaymentFromOperatorForExtendingRightForOneYear" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="RequiredPaymentFromOperatorForExtendingRightForOneYear" xlink:title="presentation: LandAbstract to RequiredPaymentFromOperatorForExtendingRightForOneYear" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:label="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:title="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="NumberOfAdditionalYearsForWhichOperatorMayExtendLease" xlink:title="presentation: LandAbstract to NumberOfAdditionalYearsForWhichOperatorMayExtendLease" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_MaximumTermOfLease" xlink:label="MaximumTermOfLease" xlink:title="MaximumTermOfLease" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LandAbstract" xlink:to="MaximumTermOfLease" xlink:title="presentation: LandAbstract to MaximumTermOfLease" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="LandAbstract" xlink:title="presentation: DisaggregationOfRevenueLineItems to LandAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="ContractWithCustomerLiabilityRevenueRecognized" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiabilityRevenueRecognized" xlink:title="presentation: DisaggregationOfRevenueLineItems to ContractWithCustomerLiabilityRevenueRecognized" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="ContractWithCustomerLiability" xlink:title="ContractWithCustomerLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="ContractWithCustomerLiability" xlink:title="presentation: DisaggregationOfRevenueLineItems to ContractWithCustomerLiability" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfIndustrialWaterCustomers" xlink:label="NumberOfIndustrialWaterCustomers" xlink:title="NumberOfIndustrialWaterCustomers" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueLineItems" xlink:to="NumberOfIndustrialWaterCustomers" xlink:title="presentation: DisaggregationOfRevenueLineItems to NumberOfIndustrialWaterCustomers" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisaggregationOfRevenueTable" xlink:to="DisaggregationOfRevenueLineItems" xlink:title="presentation: DisaggregationOfRevenueTable to DisaggregationOfRevenueLineItems" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="DisaggregationOfRevenueTable" xlink:title="presentation: AccountingPoliciesAbstract to DisaggregationOfRevenueTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="ScheduleOfPropertyPlantAndEquipmentTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="presentation: RangeMember to MaximumMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="presentation: RangeAxis to RangeMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="RangeAxis" xlink:title="presentation: ScheduleOfPropertyPlantAndEquipmentTable to RangeAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="PropertyPlantAndEquipmentLineItems" xlink:title="PropertyPlantAndEquipmentLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:label="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:title="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="PropertyPlantAndEquipmentUsefulLife" xlink:title="PropertyPlantAndEquipmentUsefulLife" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:to="PropertyPlantAndEquipmentUsefulLife" xlink:title="presentation: CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract to PropertyPlantAndEquipmentUsefulLife" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" xlink:title="presentation: PropertyPlantAndEquipmentLineItems to CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="PropertyPlantAndEquipmentLineItems" xlink:title="presentation: ScheduleOfPropertyPlantAndEquipmentTable to PropertyPlantAndEquipmentLineItems" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="presentation: AccountingPoliciesAbstract to ScheduleOfPropertyPlantAndEquipmentTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationSharebasedCompensationDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationAbstract" xlink:label="ShareBasedCompensationAbstract" xlink:title="ShareBasedCompensationAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:label="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:title="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationAbstract" xlink:to="TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" xlink:title="presentation: ShareBasedCompensationAbstract to TaxExpenseBenefitForGrantingAndExerciseOfStockOptions" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DeferredTaxImpactOnIncomeTaxProvision" xlink:label="DeferredTaxImpactOnIncomeTaxProvision" xlink:title="DeferredTaxImpactOnIncomeTaxProvision" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationAbstract" xlink:to="DeferredTaxImpactOnIncomeTaxProvision" xlink:title="presentation: ShareBasedCompensationAbstract to DeferredTaxImpactOnIncomeTaxProvision" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationAbstract" xlink:to="ShareBasedCompensation" xlink:title="presentation: ShareBasedCompensationAbstract to ShareBasedCompensation" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="ShareBasedCompensationAbstract" xlink:title="presentation: AccountingPoliciesAbstract to ShareBasedCompensationAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationIncomeTaxesDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="IncomeTaxDisclosureAbstract" xlink:title="IncomeTaxDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" xlink:label="DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" xlink:title="DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" xlink:title="presentation: IncomeTaxDisclosureAbstract to DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" xlink:label="UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" xlink:title="UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" xlink:title="presentation: IncomeTaxDisclosureAbstract to UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" xlink:label="UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" xlink:title="UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" xlink:title="presentation: IncomeTaxDisclosureAbstract to UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" xlink:label="UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" xlink:title="UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" xlink:title="presentation: IncomeTaxDisclosureAbstract to UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:title="EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:title="presentation: IncomeTaxDisclosureAbstract to EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="IncomeTaxDisclosureAbstract" xlink:title="presentation: AccountingPoliciesAbstract to IncomeTaxDisclosureAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationEarningsPerCommonShareDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:title="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:title="presentation: EarningsPerShareAbstract to IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:title="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="EarningsPerShareAbstract" xlink:to="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:title="presentation: EarningsPerShareAbstract to AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="EarningsPerShareAbstract" xlink:title="presentation: AccountingPoliciesAbstract to EarningsPerShareAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:label="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:title="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:label="AdjustmentsForNewAccountingPronouncementsAxis" xlink:title="AdjustmentsForNewAccountingPronouncementsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="TypeOfAdoptionMember" xlink:title="TypeOfAdoptionMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingStandardsUpdate201602Member" xlink:label="AccountingStandardsUpdate201602Member" xlink:title="AccountingStandardsUpdate201602Member" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TypeOfAdoptionMember" xlink:to="AccountingStandardsUpdate201602Member" xlink:title="presentation: TypeOfAdoptionMember to AccountingStandardsUpdate201602Member" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AdjustmentsForNewAccountingPronouncementsAxis" xlink:to="TypeOfAdoptionMember" xlink:title="presentation: AdjustmentsForNewAccountingPronouncementsAxis to TypeOfAdoptionMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:to="AdjustmentsForNewAccountingPronouncementsAxis" xlink:title="presentation: NewAccountingPronouncementsOrChangeInAccountingPrincipleTable to AdjustmentsForNewAccountingPronouncementsAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:label="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:title="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:label="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:title="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAndLiabilitiesLesseeAbstract" xlink:label="AssetsAndLiabilitiesLesseeAbstract" xlink:title="AssetsAndLiabilitiesLesseeAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="OperatingLeaseRightOfUseAsset" xlink:title="OperatingLeaseRightOfUseAsset" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseRightOfUseAsset" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseRightOfUseAsset" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="OperatingLeaseLiability" xlink:title="OperatingLeaseLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseLiability" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseLiability" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:to="AssetsAndLiabilitiesLesseeAbstract" xlink:title="presentation: NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract to AssetsAndLiabilitiesLesseeAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:to="NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:title="presentation: NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems to NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:to="NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" xlink:title="presentation: NewAccountingPronouncementsOrChangeInAccountingPrincipleTable to NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountingPoliciesAbstract" xlink:to="NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:title="presentation: AccountingPoliciesAbstract to NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/FairValueMeasurementsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="FairValueDisclosuresAbstract" xlink:title="FairValueDisclosuresAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="FairValueByMeasurementFrequencyAxis" xlink:title="FairValueByMeasurementFrequencyAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="FairValueMeasurementFrequencyDomain" xlink:title="FairValueMeasurementFrequencyDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsRecurringMember" xlink:label="FairValueMeasurementsRecurringMember" xlink:title="FairValueMeasurementsRecurringMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueMeasurementFrequencyDomain" xlink:to="FairValueMeasurementsRecurringMember" xlink:title="presentation: FairValueMeasurementFrequencyDomain to FairValueMeasurementsRecurringMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueByMeasurementFrequencyAxis" xlink:to="FairValueMeasurementFrequencyDomain" xlink:title="presentation: FairValueByMeasurementFrequencyAxis to FairValueMeasurementFrequencyDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FairValueByMeasurementFrequencyAxis" xlink:title="presentation: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FairValueByMeasurementFrequencyAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="FairValueByMeasurementBasisAxis" xlink:title="FairValueByMeasurementBasisAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain" xlink:label="FairValueDisclosureItemAmountsDomain" xlink:title="FairValueDisclosureItemAmountsDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="PortionAtFairValueFairValueDisclosureMember" xlink:title="PortionAtFairValueFairValueDisclosureMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="PortionAtFairValueFairValueDisclosureMember" xlink:title="presentation: FairValueDisclosureItemAmountsDomain to PortionAtFairValueFairValueDisclosureMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="EstimateOfFairValueFairValueDisclosureMember" xlink:title="EstimateOfFairValueFairValueDisclosureMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="EstimateOfFairValueFairValueDisclosureMember" xlink:title="presentation: FairValueDisclosureItemAmountsDomain to EstimateOfFairValueFairValueDisclosureMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="CarryingReportedAmountFairValueDisclosureMember" xlink:title="CarryingReportedAmountFairValueDisclosureMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="CarryingReportedAmountFairValueDisclosureMember" xlink:title="presentation: FairValueDisclosureItemAmountsDomain to CarryingReportedAmountFairValueDisclosureMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueByMeasurementBasisAxis" xlink:to="FairValueDisclosureItemAmountsDomain" xlink:title="presentation: FairValueByMeasurementBasisAxis to FairValueDisclosureItemAmountsDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FairValueByMeasurementBasisAxis" xlink:title="presentation: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FairValueByMeasurementBasisAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="FairValueByFairValueHierarchyLevelAxis" xlink:title="FairValueByFairValueHierarchyLevelAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="FairValueMeasurementsFairValueHierarchyDomain" xlink:title="FairValueMeasurementsFairValueHierarchyDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="FairValueInputsLevel1Member" xlink:title="FairValueInputsLevel1Member" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="FairValueInputsLevel1Member" xlink:title="presentation: FairValueMeasurementsFairValueHierarchyDomain to FairValueInputsLevel1Member" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="FairValueInputsLevel2Member" xlink:title="FairValueInputsLevel2Member" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="FairValueInputsLevel2Member" xlink:title="presentation: FairValueMeasurementsFairValueHierarchyDomain to FairValueInputsLevel2Member" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="FairValueInputsLevel3Member" xlink:title="FairValueInputsLevel3Member" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="FairValueInputsLevel3Member" xlink:title="presentation: FairValueMeasurementsFairValueHierarchyDomain to FairValueInputsLevel3Member" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueByFairValueHierarchyLevelAxis" xlink:to="FairValueMeasurementsFairValueHierarchyDomain" xlink:title="presentation: FairValueByFairValueHierarchyLevelAxis to FairValueMeasurementsFairValueHierarchyDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FairValueByFairValueHierarchyLevelAxis" xlink:title="presentation: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FairValueByFairValueHierarchyLevelAxis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="FinancialInstrumentAxis" xlink:title="FinancialInstrumentAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:title="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_USTreasuryAndGovernmentMember" xlink:label="USTreasuryAndGovernmentMember" xlink:title="USTreasuryAndGovernmentMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_USTreasurySecuritiesMember" xlink:label="USTreasurySecuritiesMember" xlink:title="USTreasurySecuritiesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="USTreasuryAndGovernmentMember" xlink:to="USTreasurySecuritiesMember" xlink:title="presentation: USTreasuryAndGovernmentMember to USTreasurySecuritiesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="CertificatesOfDepositMember" xlink:title="CertificatesOfDepositMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="USTreasuryAndGovernmentMember" xlink:to="CertificatesOfDepositMember" xlink:title="presentation: USTreasuryAndGovernmentMember to CertificatesOfDepositMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="USTreasuryAndGovernmentMember" xlink:title="presentation: TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain to USTreasuryAndGovernmentMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FinancialInstrumentAxis" xlink:to="TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:title="presentation: FinancialInstrumentAxis to TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FinancialInstrumentAxis" xlink:title="presentation: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FinancialInstrumentAxis" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:title="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueNetAssetLiabilityAbstract" xlink:label="FairValueNetAssetLiabilityAbstract" xlink:title="FairValueNetAssetLiabilityAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfAssets" xlink:label="NumberOfAssets" xlink:title="NumberOfAssets" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="NumberOfAssets" xlink:title="presentation: FairValueNetAssetLiabilityAbstract to NumberOfAssets" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfLiabilities" xlink:label="NumberOfLiabilities" xlink:title="NumberOfLiabilities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="NumberOfLiabilities" xlink:title="presentation: FairValueNetAssetLiabilityAbstract to NumberOfLiabilities" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="LiabilitiesFairValueDisclosure" xlink:title="LiabilitiesFairValueDisclosure" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="LiabilitiesFairValueDisclosure" xlink:title="presentation: FairValueNetAssetLiabilityAbstract to LiabilitiesFairValueDisclosure" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="AvailableForSaleSecuritiesDebtSecurities" xlink:title="AvailableForSaleSecuritiesDebtSecurities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="AvailableForSaleSecuritiesDebtSecurities" xlink:title="presentation: FairValueNetAssetLiabilityAbstract to AvailableForSaleSecuritiesDebtSecurities" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="AssetsFairValueDisclosure" xlink:title="AssetsFairValueDisclosure" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="AssetsFairValueDisclosure" xlink:title="presentation: FairValueNetAssetLiabilityAbstract to AssetsFairValueDisclosure" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:label="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:title="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:title="presentation: FairValueNetAssetLiabilityAbstract to DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="HeldToMaturitySecurities" xlink:title="HeldToMaturitySecurities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueNetAssetLiabilityAbstract" xlink:to="HeldToMaturitySecurities" xlink:title="presentation: FairValueNetAssetLiabilityAbstract to HeldToMaturitySecurities" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="FairValueNetAssetLiabilityAbstract" xlink:title="presentation: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems to FairValueNetAssetLiabilityAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:title="presentation: FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable to FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="FairValueDisclosuresAbstract" xlink:to="FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:title="presentation: FairValueDisclosuresAbstract to FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/WaterAndLandAssetsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="PropertyPlantAndEquipmentAbstract" xlink:title="PropertyPlantAndEquipmentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="ScheduleOfPropertyPlantAndEquipmentTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="PropertyPlantAndEquipmentByTypeAxis" xlink:title="PropertyPlantAndEquipmentByTypeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="PropertyPlantAndEquipmentTypeDomain" xlink:title="PropertyPlantAndEquipmentTypeDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewWaterSupplyMember" xlink:label="RangeviewWaterSupplyMember" xlink:title="RangeviewWaterSupplyMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="RangeviewWaterSupplyMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to RangeviewWaterSupplyMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchWaterRightsAndOtherCostsMember" xlink:label="SkyRanchWaterRightsAndOtherCostsMember" xlink:title="SkyRanchWaterRightsAndOtherCostsMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="SkyRanchWaterRightsAndOtherCostsMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to SkyRanchWaterRightsAndOtherCostsMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FairgroundsWaterAndWaterSystemMember" xlink:label="FairgroundsWaterAndWaterSystemMember" xlink:title="FairgroundsWaterAndWaterSystemMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="FairgroundsWaterAndWaterSystemMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to FairgroundsWaterAndWaterSystemMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewWaterSystemMember" xlink:label="RangeviewWaterSystemMember" xlink:title="RangeviewWaterSystemMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="RangeviewWaterSystemMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to RangeviewWaterSystemMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterSupplyOtherMember" xlink:label="WaterSupplyOtherMember" xlink:title="WaterSupplyOtherMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="WaterSupplyOtherMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to WaterSupplyOtherMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WildPointeServiceRightsMember" xlink:label="WildPointeServiceRightsMember" xlink:title="WildPointeServiceRightsMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="WildPointeServiceRightsMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to WildPointeServiceRightsMember" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchPipelineMember" xlink:label="SkyRanchPipelineMember" xlink:title="SkyRanchPipelineMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="SkyRanchPipelineMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to SkyRanchPipelineMember" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LostCreekWaterSupplyMember" xlink:label="LostCreekWaterSupplyMember" xlink:title="LostCreekWaterSupplyMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="LostCreekWaterSupplyMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to LostCreekWaterSupplyMember" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:label="ConstructionInProgressMember" xlink:title="ConstructionInProgressMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="ConstructionInProgressMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to ConstructionInProgressMember" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherMachineryAndEquipmentMember" xlink:label="OtherMachineryAndEquipmentMember" xlink:title="OtherMachineryAndEquipmentMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="OtherMachineryAndEquipmentMember" xlink:title="presentation: PropertyPlantAndEquipmentTypeDomain to OtherMachineryAndEquipmentMember" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentByTypeAxis" xlink:to="PropertyPlantAndEquipmentTypeDomain" xlink:title="presentation: PropertyPlantAndEquipmentByTypeAxis to PropertyPlantAndEquipmentTypeDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="PropertyPlantAndEquipmentByTypeAxis" xlink:title="presentation: ScheduleOfPropertyPlantAndEquipmentTable to PropertyPlantAndEquipmentByTypeAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="PropertyPlantAndEquipmentLineItems" xlink:title="PropertyPlantAndEquipmentLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:label="PropertyPlantAndEquipmentNetAbstract" xlink:title="PropertyPlantAndEquipmentNetAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="PropertyPlantAndEquipmentGross" xlink:title="PropertyPlantAndEquipmentGross" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentNetAbstract" xlink:to="PropertyPlantAndEquipmentGross" xlink:title="presentation: PropertyPlantAndEquipmentNetAbstract to PropertyPlantAndEquipmentGross" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:title="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentNetAbstract" xlink:to="AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:title="presentation: PropertyPlantAndEquipmentNetAbstract to AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentNetAbstract" xlink:to="PropertyPlantAndEquipmentNet" xlink:title="presentation: PropertyPlantAndEquipmentNetAbstract to PropertyPlantAndEquipmentNet" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="PropertyPlantAndEquipmentNetAbstract" xlink:title="presentation: PropertyPlantAndEquipmentLineItems to PropertyPlantAndEquipmentNetAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortizationAbstract" xlink:label="DepreciationAndAmortizationAbstract" xlink:title="DepreciationAndAmortizationAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Depreciation" xlink:label="Depreciation" xlink:title="Depreciation" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DepreciationAndAmortizationAbstract" xlink:to="Depreciation" xlink:title="presentation: DepreciationAndAmortizationAbstract to Depreciation" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="DepreciationAndAmortizationAbstract" xlink:title="presentation: PropertyPlantAndEquipmentLineItems to DepreciationAndAmortizationAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="PropertyPlantAndEquipmentLineItems" xlink:title="presentation: ScheduleOfPropertyPlantAndEquipmentTable to PropertyPlantAndEquipmentLineItems" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PropertyPlantAndEquipmentAbstract" xlink:to="ScheduleOfPropertyPlantAndEquipmentTable" xlink:title="presentation: PropertyPlantAndEquipmentAbstract to ScheduleOfPropertyPlantAndEquipmentTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLongtermObligationsDetails">
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LongTermObligationsAndOperatingLeaseAbstract" xlink:label="LongTermObligationsAndOperatingLeaseAbstract" xlink:title="LongTermObligationsAndOperatingLeaseAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:label="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:title="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:label="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:title="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="PercentageOfPaymentAllocatedToRecordedLiabilityAccount" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to PercentageOfPaymentAllocatedToRecordedLiabilityAccount" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:label="PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:title="PercentageOfPaymentRemittedToAllocatedToContingentObligation" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="PercentageOfPaymentRemittedToAllocatedToContingentObligation" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to PercentageOfPaymentRemittedToAllocatedToContingentObligation" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:label="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:title="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="PercentageOfNetProceedsFromSaleOfExportWaterAllocated" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to PercentageOfNetProceedsFromSaleOfExportWaterAllocated" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedRollForward" xlink:label="ExportWaterProceedsReceivedRollForward" xlink:title="ExportWaterProceedsReceivedRollForward" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedBalances" xlink:label="ExportWaterProceedsReceivedBalances" xlink:title="ExportWaterProceedsReceivedBalances" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="ExportWaterProceedsReceivedBalances" xlink:title="presentation: ExportWaterProceedsReceivedRollForward to ExportWaterProceedsReceivedBalances" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedAcquisitions" xlink:label="ExportWaterProceedsReceivedAcquisitions" xlink:title="ExportWaterProceedsReceivedAcquisitions" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="ExportWaterProceedsReceivedAcquisitions" xlink:title="presentation: ExportWaterProceedsReceivedRollForward to ExportWaterProceedsReceivedAcquisitions" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedRelinquishment" xlink:label="ExportWaterProceedsReceivedRelinquishment" xlink:title="ExportWaterProceedsReceivedRelinquishment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="ExportWaterProceedsReceivedRelinquishment" xlink:title="presentation: ExportWaterProceedsReceivedRollForward to ExportWaterProceedsReceivedRelinquishment" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedOptionPayments" xlink:label="ExportWaterProceedsReceivedOptionPayments" xlink:title="ExportWaterProceedsReceivedOptionPayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="ExportWaterProceedsReceivedOptionPayments" xlink:title="presentation: ExportWaterProceedsReceivedRollForward to ExportWaterProceedsReceivedOptionPayments" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedTapFees" xlink:label="ExportWaterProceedsReceivedTapFees" xlink:title="ExportWaterProceedsReceivedTapFees" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="ExportWaterProceedsReceivedTapFees" xlink:title="presentation: ExportWaterProceedsReceivedRollForward to ExportWaterProceedsReceivedTapFees" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedSalePayments" xlink:label="ExportWaterProceedsReceivedSalePayments" xlink:title="ExportWaterProceedsReceivedSalePayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="ExportWaterProceedsReceivedSalePayments" xlink:title="presentation: ExportWaterProceedsReceivedRollForward to ExportWaterProceedsReceivedSalePayments" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterProceedsReceivedBalances" xlink:label="ExportWaterProceedsReceivedBalances_2" xlink:title="ExportWaterProceedsReceivedBalances" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterProceedsReceivedRollForward" xlink:to="ExportWaterProceedsReceivedBalances_2" xlink:title="presentation: ExportWaterProceedsReceivedRollForward to ExportWaterProceedsReceivedBalances" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="ExportWaterProceedsReceivedRollForward" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to ExportWaterProceedsReceivedRollForward" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsRollForward" xlink:label="InitialExportWaterProceedsRollForward" xlink:title="InitialExportWaterProceedsRollForward" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsBalances" xlink:label="InitialExportWaterProceedsBalances" xlink:title="InitialExportWaterProceedsBalances" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="InitialExportWaterProceedsBalances" xlink:title="presentation: InitialExportWaterProceedsRollForward to InitialExportWaterProceedsBalances" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsAcquisitions" xlink:label="InitialExportWaterProceedsAcquisitions" xlink:title="InitialExportWaterProceedsAcquisitions" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="InitialExportWaterProceedsAcquisitions" xlink:title="presentation: InitialExportWaterProceedsRollForward to InitialExportWaterProceedsAcquisitions" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsRelinquishment" xlink:label="InitialExportWaterProceedsRelinquishment" xlink:title="InitialExportWaterProceedsRelinquishment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="InitialExportWaterProceedsRelinquishment" xlink:title="presentation: InitialExportWaterProceedsRollForward to InitialExportWaterProceedsRelinquishment" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsOptionPayments" xlink:label="InitialExportWaterProceedsOptionPayments" xlink:title="InitialExportWaterProceedsOptionPayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="InitialExportWaterProceedsOptionPayments" xlink:title="presentation: InitialExportWaterProceedsRollForward to InitialExportWaterProceedsOptionPayments" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsTapFee" xlink:label="InitialExportWaterProceedsTapFee" xlink:title="InitialExportWaterProceedsTapFee" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="InitialExportWaterProceedsTapFee" xlink:title="presentation: InitialExportWaterProceedsRollForward to InitialExportWaterProceedsTapFee" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsExportWaterSalePayments" xlink:label="InitialExportWaterProceedsExportWaterSalePayments" xlink:title="InitialExportWaterProceedsExportWaterSalePayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="InitialExportWaterProceedsExportWaterSalePayments" xlink:title="presentation: InitialExportWaterProceedsRollForward to InitialExportWaterProceedsExportWaterSalePayments" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_InitialExportWaterProceedsBalances" xlink:label="InitialExportWaterProceedsBalances_2" xlink:title="InitialExportWaterProceedsBalances" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="InitialExportWaterProceedsRollForward" xlink:to="InitialExportWaterProceedsBalances_2" xlink:title="presentation: InitialExportWaterProceedsRollForward to InitialExportWaterProceedsBalances" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="InitialExportWaterProceedsRollForward" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to InitialExportWaterProceedsRollForward" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TotalPotentialThirdPartyObligationRollForward" xlink:label="TotalPotentialThirdPartyObligationRollForward" xlink:title="TotalPotentialThirdPartyObligationRollForward" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationBalances" xlink:label="PotentialThirdPartyObligationBalances" xlink:title="PotentialThirdPartyObligationBalances" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="PotentialThirdPartyObligationBalances" xlink:title="presentation: TotalPotentialThirdPartyObligationRollForward to PotentialThirdPartyObligationBalances" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TotalPotentialThirdPartyObligationAcquisitions" xlink:label="TotalPotentialThirdPartyObligationAcquisitions" xlink:title="TotalPotentialThirdPartyObligationAcquisitions" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="TotalPotentialThirdPartyObligationAcquisitions" xlink:title="presentation: TotalPotentialThirdPartyObligationRollForward to TotalPotentialThirdPartyObligationAcquisitions" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationRelinquishment" xlink:label="PotentialThirdPartyObligationRelinquishment" xlink:title="PotentialThirdPartyObligationRelinquishment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="PotentialThirdPartyObligationRelinquishment" xlink:title="presentation: TotalPotentialThirdPartyObligationRollForward to PotentialThirdPartyObligationRelinquishment" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationOptionPayments" xlink:label="PotentialThirdPartyObligationOptionPayments" xlink:title="PotentialThirdPartyObligationOptionPayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="PotentialThirdPartyObligationOptionPayments" xlink:title="presentation: TotalPotentialThirdPartyObligationRollForward to PotentialThirdPartyObligationOptionPayments" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationTapFees" xlink:label="PotentialThirdPartyObligationTapFees" xlink:title="PotentialThirdPartyObligationTapFees" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="PotentialThirdPartyObligationTapFees" xlink:title="presentation: TotalPotentialThirdPartyObligationRollForward to PotentialThirdPartyObligationTapFees" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:label="TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:title="TotalPotentialThirdPartyObligationExportWaterSalePayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="TotalPotentialThirdPartyObligationExportWaterSalePayments" xlink:title="presentation: TotalPotentialThirdPartyObligationRollForward to TotalPotentialThirdPartyObligationExportWaterSalePayments" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PotentialThirdPartyObligationBalances" xlink:label="PotentialThirdPartyObligationBalances_2" xlink:title="PotentialThirdPartyObligationBalances" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TotalPotentialThirdPartyObligationRollForward" xlink:to="PotentialThirdPartyObligationBalances_2" xlink:title="presentation: TotalPotentialThirdPartyObligationRollForward to PotentialThirdPartyObligationBalances" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="TotalPotentialThirdPartyObligationRollForward" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to TotalPotentialThirdPartyObligationRollForward" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityRollForward" xlink:label="ParticipatingInterestsLiabilityRollForward" xlink:title="ParticipatingInterestsLiabilityRollForward" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiability" xlink:label="ParticipatingInterestsLiability" xlink:title="ParticipatingInterestsLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="ParticipatingInterestsLiability" xlink:title="presentation: ParticipatingInterestsLiabilityRollForward to ParticipatingInterestsLiability" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityAcquisitions" xlink:label="ParticipatingInterestsLiabilityAcquisitions" xlink:title="ParticipatingInterestsLiabilityAcquisitions" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="ParticipatingInterestsLiabilityAcquisitions" xlink:title="presentation: ParticipatingInterestsLiabilityRollForward to ParticipatingInterestsLiabilityAcquisitions" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityRelinquishment" xlink:label="ParticipatingInterestsLiabilityRelinquishment" xlink:title="ParticipatingInterestsLiabilityRelinquishment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="ParticipatingInterestsLiabilityRelinquishment" xlink:title="presentation: ParticipatingInterestsLiabilityRollForward to ParticipatingInterestsLiabilityRelinquishment" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityOptionPayments" xlink:label="ParticipatingInterestsLiabilityOptionPayments" xlink:title="ParticipatingInterestsLiabilityOptionPayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="ParticipatingInterestsLiabilityOptionPayments" xlink:title="presentation: ParticipatingInterestsLiabilityRollForward to ParticipatingInterestsLiabilityOptionPayments" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityTapFees" xlink:label="ParticipatingInterestsLiabilityTapFees" xlink:title="ParticipatingInterestsLiabilityTapFees" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="ParticipatingInterestsLiabilityTapFees" xlink:title="presentation: ParticipatingInterestsLiabilityRollForward to ParticipatingInterestsLiabilityTapFees" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:label="ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:title="ParticipatingInterestsLiabilityExportWaterSalePayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="ParticipatingInterestsLiabilityExportWaterSalePayments" xlink:title="presentation: ParticipatingInterestsLiabilityRollForward to ParticipatingInterestsLiabilityExportWaterSalePayments" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ParticipatingInterestsLiability" xlink:label="ParticipatingInterestsLiability_2" xlink:title="ParticipatingInterestsLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ParticipatingInterestsLiabilityRollForward" xlink:to="ParticipatingInterestsLiability_2" xlink:title="presentation: ParticipatingInterestsLiabilityRollForward to ParticipatingInterestsLiability" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="ParticipatingInterestsLiabilityRollForward" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to ParticipatingInterestsLiabilityRollForward" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyRollForward" xlink:label="ContingencyRollForward" xlink:title="ContingencyRollForward" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:label="FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:title="FairValueDisclosureOffbalanceSheetRisksAmountLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ContingencyRollForward" xlink:to="FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:title="presentation: ContingencyRollForward to FairValueDisclosureOffbalanceSheetRisksAmountLiability" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyAcquisitions" xlink:label="ContingencyAcquisitions" xlink:title="ContingencyAcquisitions" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ContingencyRollForward" xlink:to="ContingencyAcquisitions" xlink:title="presentation: ContingencyRollForward to ContingencyAcquisitions" order="1.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyRelinquishment" xlink:label="ContingencyRelinquishment" xlink:title="ContingencyRelinquishment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ContingencyRollForward" xlink:to="ContingencyRelinquishment" xlink:title="presentation: ContingencyRollForward to ContingencyRelinquishment" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyOptionPayments" xlink:label="ContingencyOptionPayments" xlink:title="ContingencyOptionPayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ContingencyRollForward" xlink:to="ContingencyOptionPayments" xlink:title="presentation: ContingencyRollForward to ContingencyOptionPayments" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyTapFees" xlink:label="ContingencyTapFees" xlink:title="ContingencyTapFees" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ContingencyRollForward" xlink:to="ContingencyTapFees" xlink:title="presentation: ContingencyRollForward to ContingencyTapFees" order="4.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ContingencyExportWaterSalePayments" xlink:label="ContingencyExportWaterSalePayments" xlink:title="ContingencyExportWaterSalePayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ContingencyRollForward" xlink:to="ContingencyExportWaterSalePayments" xlink:title="presentation: ContingencyRollForward to ContingencyExportWaterSalePayments" order="5.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability" xlink:label="FairValueDisclosureOffbalanceSheetRisksAmountLiability_2" xlink:title="FairValueDisclosureOffbalanceSheetRisksAmountLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ContingencyRollForward" xlink:to="FairValueDisclosureOffbalanceSheetRisksAmountLiability_2" xlink:title="presentation: ContingencyRollForward to FairValueDisclosureOffbalanceSheetRisksAmountLiability" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="ContingencyRollForward" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to ContingencyRollForward" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExportWaterAbstract" xlink:label="ExportWaterAbstract" xlink:title="ExportWaterAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedFutureExportWaterPayouts" xlink:label="ExpectedFutureExportWaterPayouts" xlink:title="ExpectedFutureExportWaterPayouts" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterAbstract" xlink:to="ExpectedFutureExportWaterPayouts" xlink:title="presentation: ExportWaterAbstract to ExpectedFutureExportWaterPayouts" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:label="ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:title="ExpectedFutureRevenueReceivableFromSaleOfExportWater" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterAbstract" xlink:to="ExpectedFutureRevenueReceivableFromSaleOfExportWater" xlink:title="presentation: ExportWaterAbstract to ExpectedFutureRevenueReceivableFromSaleOfExportWater" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:label="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:title="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ExportWaterAbstract" xlink:to="ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" xlink:title="presentation: ExportWaterAbstract to ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="ExportWaterAbstract" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to ExportWaterAbstract" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAgreementTable" xlink:label="PartnershipAgreementTable" xlink:title="PartnershipAgreementTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewDistrictMember" xlink:label="RangeviewDistrictMember" xlink:title="RangeviewDistrictMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyDomain" xlink:to="RangeviewDistrictMember" xlink:title="presentation: RelatedPartyDomain to RangeviewDistrictMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="presentation: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAgreementTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="presentation: PartnershipAgreementTable to RelatedPartyTransactionsByRelatedPartyAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="RelatedPartyTransactionAxis" xlink:title="RelatedPartyTransactionAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain" xlink:title="RelatedPartyTransactionDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterServicesMember" xlink:label="WaterAndWastewaterServicesMember" xlink:title="WaterAndWastewaterServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="WaterAndWastewaterServicesMember" xlink:title="presentation: RelatedPartyTransactionDomain to WaterAndWastewaterServicesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WisePartnershipMember" xlink:label="WisePartnershipMember" xlink:title="WisePartnershipMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="WisePartnershipMember" xlink:title="presentation: RelatedPartyTransactionDomain to WisePartnershipMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SouthMetroWiseAuthorityMember" xlink:label="SouthMetroWiseAuthorityMember" xlink:title="SouthMetroWiseAuthorityMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="SouthMetroWiseAuthorityMember" xlink:title="presentation: RelatedPartyTransactionDomain to SouthMetroWiseAuthorityMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain" xlink:title="presentation: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAgreementTable" xlink:to="RelatedPartyTransactionAxis" xlink:title="presentation: PartnershipAgreementTable to RelatedPartyTransactionAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAgreementLineItems" xlink:label="PartnershipAgreementLineItems" xlink:title="PartnershipAgreementLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PartnershipAbstract" xlink:label="PartnershipAbstract" xlink:title="PartnershipAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:label="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:title="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAbstract" xlink:to="NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" xlink:title="presentation: PartnershipAbstract to NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfMembersToDeliverWater" xlink:label="NumberOfMembersToDeliverWater" xlink:title="NumberOfMembersToDeliverWater" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAbstract" xlink:to="NumberOfMembersToDeliverWater" xlink:title="presentation: PartnershipAbstract to NumberOfMembersToDeliverWater" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_VolumeOfWaterPurchased" xlink:label="VolumeOfWaterPurchased" xlink:title="VolumeOfWaterPurchased" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAbstract" xlink:to="VolumeOfWaterPurchased" xlink:title="presentation: PartnershipAbstract to VolumeOfWaterPurchased" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems" xlink:label="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="PaymentsToAcquireWaterAndWasteWaterSystems" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAbstract" xlink:to="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="presentation: PartnershipAbstract to PaymentsToAcquireWaterAndWasteWaterSystems" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectedCostOfParticipationAgreement" xlink:label="ProjectedCostOfParticipationAgreement" xlink:title="ProjectedCostOfParticipationAgreement" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAbstract" xlink:to="ProjectedCostOfParticipationAgreement" xlink:title="presentation: PartnershipAbstract to ProjectedCostOfParticipationAgreement" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:label="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="PeriodOfFinancingOfPartnershipParticipationAgreement" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAbstract" xlink:to="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="presentation: PartnershipAbstract to PeriodOfFinancingOfPartnershipParticipationAgreement" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAgreementLineItems" xlink:to="PartnershipAbstract" xlink:title="presentation: PartnershipAgreementLineItems to PartnershipAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PartnershipAgreementTable" xlink:to="PartnershipAgreementLineItems" xlink:title="presentation: PartnershipAgreementTable to PartnershipAgreementLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="PartnershipAgreementTable" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to PartnershipAgreementTable" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails">
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LongTermObligationsAndOperatingLeaseAbstract" xlink:label="LongTermObligationsAndOperatingLeaseAbstract" xlink:title="LongTermObligationsAndOperatingLeaseAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseCostAbstract" xlink:label="LeaseCostAbstract" xlink:title="LeaseCostAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="AreaOfRealEstateProperty" xlink:title="AreaOfRealEstateProperty" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="AreaOfRealEstateProperty" xlink:title="presentation: LeaseCostAbstract to AreaOfRealEstateProperty" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseTermOfContract" xlink:label="LesseeOperatingLeaseTermOfContract" xlink:title="LesseeOperatingLeaseTermOfContract" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="LesseeOperatingLeaseTermOfContract" xlink:title="presentation: LeaseCostAbstract to LesseeOperatingLeaseTermOfContract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OperatingLeasesMonthlyBaseRent" xlink:label="OperatingLeasesMonthlyBaseRent" xlink:title="OperatingLeasesMonthlyBaseRent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="OperatingLeasesMonthlyBaseRent" xlink:title="presentation: LeaseCostAbstract to OperatingLeasesMonthlyBaseRent" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:label="LesseeOperatingLeaseRenewalTerm" xlink:title="LesseeOperatingLeaseRenewalTerm" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="LesseeOperatingLeaseRenewalTerm" xlink:title="presentation: LeaseCostAbstract to LesseeOperatingLeaseRenewalTerm" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:label="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:title="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" xlink:title="presentation: LeaseCostAbstract to PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseExpense" xlink:label="OperatingLeaseExpense" xlink:title="OperatingLeaseExpense" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="OperatingLeaseExpense" xlink:title="presentation: LeaseCostAbstract to OperatingLeaseExpense" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubleaseIncome" xlink:label="SubleaseIncome" xlink:title="SubleaseIncome" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="SubleaseIncome" xlink:title="presentation: LeaseCostAbstract to SubleaseIncome" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasePayments" xlink:label="OperatingLeasePayments" xlink:title="OperatingLeasePayments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LeaseCostAbstract" xlink:to="OperatingLeasePayments" xlink:title="presentation: LeaseCostAbstract to OperatingLeasePayments" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="LeaseCostAbstract" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to LeaseCostAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAndLiabilitiesLesseeAbstract" xlink:label="AssetsAndLiabilitiesLesseeAbstract" xlink:title="AssetsAndLiabilitiesLesseeAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="OperatingLeaseRightOfUseAsset" xlink:title="OperatingLeaseRightOfUseAsset" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseRightOfUseAsset" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseRightOfUseAsset" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="OperatingLeaseLiabilityCurrent" xlink:title="OperatingLeaseLiabilityCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseLiabilityCurrent" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseLiabilityCurrent" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="OperatingLeaseLiabilityNoncurrent" xlink:title="OperatingLeaseLiabilityNoncurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseLiabilityNoncurrent" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseLiabilityNoncurrent" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="OperatingLeaseLiability" xlink:title="OperatingLeaseLiability" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseLiability" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseLiability" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:title="OperatingLeaseWeightedAverageRemainingLeaseTerm1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseWeightedAverageRemainingLeaseTerm1" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xlink:label="OperatingLeaseWeightedAverageDiscountRatePercent" xlink:title="OperatingLeaseWeightedAverageDiscountRatePercent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AssetsAndLiabilitiesLesseeAbstract" xlink:to="OperatingLeaseWeightedAverageDiscountRatePercent" xlink:title="presentation: AssetsAndLiabilitiesLesseeAbstract to OperatingLeaseWeightedAverageDiscountRatePercent" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="LongTermObligationsAndOperatingLeaseAbstract" xlink:to="AssetsAndLiabilitiesLesseeAbstract" xlink:title="presentation: LongTermObligationsAndOperatingLeaseAbstract to AssetsAndLiabilitiesLesseeAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquityEquityCompensationPlanDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:title="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="PlanNameAxis" xlink:title="PlanNameAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="PlanNameDomain" xlink:title="PlanNameDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EquityIncentivePlan2014Member" xlink:label="EquityIncentivePlan2014Member" xlink:title="EquityIncentivePlan2014Member" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PlanNameDomain" xlink:to="EquityIncentivePlan2014Member" xlink:title="presentation: PlanNameDomain to EquityIncentivePlan2014Member" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncentivePlan2004AndEquityPlan2014Member" xlink:label="IncentivePlan2004AndEquityPlan2014Member" xlink:title="IncentivePlan2004AndEquityPlan2014Member" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PlanNameDomain" xlink:to="IncentivePlan2004AndEquityPlan2014Member" xlink:title="presentation: PlanNameDomain to IncentivePlan2004AndEquityPlan2014Member" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PlanNameAxis" xlink:to="PlanNameDomain" xlink:title="presentation: PlanNameAxis to PlanNameDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="PlanNameAxis" xlink:title="presentation: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to PlanNameAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_TitleOfIndividualAxis" xlink:label="TitleOfIndividualAxis" xlink:title="TitleOfIndividualAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="TitleOfIndividualWithRelationshipToEntityDomain" xlink:title="TitleOfIndividualWithRelationshipToEntityDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SeniorManagementMember" xlink:label="SeniorManagementMember" xlink:title="SeniorManagementMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="SeniorManagementMember" xlink:title="presentation: TitleOfIndividualWithRelationshipToEntityDomain to SeniorManagementMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EmployeeMember" xlink:label="EmployeeMember" xlink:title="EmployeeMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="EmployeeMember" xlink:title="presentation: TitleOfIndividualWithRelationshipToEntityDomain to EmployeeMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NonEmployeeMember" xlink:label="NonEmployeeMember" xlink:title="NonEmployeeMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="NonEmployeeMember" xlink:title="presentation: TitleOfIndividualWithRelationshipToEntityDomain to NonEmployeeMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="TitleOfIndividualAxis" xlink:to="TitleOfIndividualWithRelationshipToEntityDomain" xlink:title="presentation: TitleOfIndividualAxis to TitleOfIndividualWithRelationshipToEntityDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="TitleOfIndividualAxis" xlink:title="presentation: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to TitleOfIndividualAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="presentation: RangeMember to MaximumMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="presentation: RangeAxis to RangeMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="RangeAxis" xlink:title="presentation: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to RangeAxis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="StockIssuedDuringPeriodSharesStockOptionsExercised" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward to StockIssuedDuringPeriodSharesStockOptionsExercised" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_2" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_2" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward to ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward to ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_2" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_2" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfBoardMembers" xlink:label="NumberOfBoardMembers" xlink:title="NumberOfBoardMembers" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="NumberOfBoardMembers" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to NumberOfBoardMembers" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharePrice" xlink:label="SharePrice" xlink:title="SharePrice" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="SharePrice" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to SharePrice" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="ShareBasedCompensation" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to ShareBasedCompensation" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:title="presentation: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="presentation: DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract to ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:title="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="PlanNameAxis" xlink:title="PlanNameAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="PlanNameDomain" xlink:title="PlanNameDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_IncentivePlan2004AndEquityPlan2014Member" xlink:label="IncentivePlan2004AndEquityPlan2014Member" xlink:title="IncentivePlan2004AndEquityPlan2014Member" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PlanNameDomain" xlink:to="IncentivePlan2004AndEquityPlan2014Member" xlink:title="presentation: PlanNameDomain to IncentivePlan2004AndEquityPlan2014Member" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PlanNameAxis" xlink:to="PlanNameDomain" xlink:title="presentation: PlanNameAxis to PlanNameDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="PlanNameAxis" xlink:title="presentation: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to PlanNameAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" order="2.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_2" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_2" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_2" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_2" xlink:title="presentation: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="ShareBasedCompensation" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to ShareBasedCompensation" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:title="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract to SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="presentation: ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems to ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:title="presentation: ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable to ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:title="presentation: DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract to ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/RelatedPartyTransactionsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="RelatedPartyTransactionsAbstract" xlink:title="RelatedPartyTransactionsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewDistrictMember" xlink:label="RangeviewDistrictMember" xlink:title="RangeviewDistrictMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyDomain" xlink:to="RangeviewDistrictMember" xlink:title="presentation: RelatedPartyDomain to RangeviewDistrictMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchMember" xlink:label="SkyRanchMember" xlink:title="SkyRanchMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyDomain" xlink:to="SkyRanchMember" xlink:title="presentation: RelatedPartyDomain to SkyRanchMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="RelatedPartyDomain" xlink:title="presentation: RelatedPartyTransactionsByRelatedPartyAxis to RelatedPartyDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RelatedPartyTransactionsByRelatedPartyAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="RelatedPartyTransactionAxis" xlink:title="RelatedPartyTransactionAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="RelatedPartyTransactionDomain" xlink:title="RelatedPartyTransactionDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WaterAndWastewaterServicesMember" xlink:label="WaterAndWastewaterServicesMember" xlink:title="WaterAndWastewaterServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="WaterAndWastewaterServicesMember" xlink:title="presentation: RelatedPartyTransactionDomain to WaterAndWastewaterServicesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WisePartnershipMember" xlink:label="WisePartnershipMember" xlink:title="WisePartnershipMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="WisePartnershipMember" xlink:title="presentation: RelatedPartyTransactionDomain to WisePartnershipMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_FacilitiesFundingAndAcquisitionAgreementMember" xlink:label="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="FacilitiesFundingAndAcquisitionAgreementMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="FacilitiesFundingAndAcquisitionAgreementMember" xlink:title="presentation: RelatedPartyTransactionDomain to FacilitiesFundingAndAcquisitionAgreementMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CommunityAuthorityBoardMember" xlink:label="CommunityAuthorityBoardMember" xlink:title="CommunityAuthorityBoardMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDomain" xlink:to="CommunityAuthorityBoardMember" xlink:title="presentation: RelatedPartyTransactionDomain to CommunityAuthorityBoardMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionAxis" xlink:to="RelatedPartyTransactionDomain" xlink:title="presentation: RelatedPartyTransactionAxis to RelatedPartyTransactionDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RelatedPartyTransactionAxis" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RelatedPartyTransactionAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:title="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="ReceivableTypeDomain" xlink:title="ReceivableTypeDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LoansReceivableMember" xlink:label="LoansReceivableMember" xlink:title="LoansReceivableMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReceivableTypeDomain" xlink:to="LoansReceivableMember" xlink:title="presentation: ReceivableTypeDomain to LoansReceivableMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableMember" xlink:label="NotesReceivableMember" xlink:title="NotesReceivableMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReceivableTypeDomain" xlink:to="NotesReceivableMember" xlink:title="presentation: ReceivableTypeDomain to NotesReceivableMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="ReceivableTypeDomain" xlink:title="presentation: AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis to ReceivableTypeDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="VariableRateAxis" xlink:title="VariableRateAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="VariableRateDomain" xlink:title="VariableRateDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PrimeRateMember" xlink:label="PrimeRateMember" xlink:title="PrimeRateMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="VariableRateDomain" xlink:to="PrimeRateMember" xlink:title="presentation: VariableRateDomain to PrimeRateMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="VariableRateAxis" xlink:to="VariableRateDomain" xlink:title="presentation: VariableRateAxis to VariableRateDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="VariableRateAxis" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to VariableRateAxis" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="presentation: RangeMember to MaximumMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="presentation: RangeAxis to RangeMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RangeAxis" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RangeAxis" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="RelatedPartyTransactionLineItems" xlink:title="RelatedPartyTransactionLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:label="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="RelatedPartyTransactionDueFromToRelatedPartyAbstract" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfEmployeeBoardOfDirectors" xlink:label="NumberOfEmployeeBoardOfDirectors" xlink:title="NumberOfEmployeeBoardOfDirectors" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="NumberOfEmployeeBoardOfDirectors" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to NumberOfEmployeeBoardOfDirectors" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfIndependentBoardOfDirectors" xlink:label="NumberOfIndependentBoardOfDirectors" xlink:title="NumberOfIndependentBoardOfDirectors" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="NumberOfIndependentBoardOfDirectors" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to NumberOfIndependentBoardOfDirectors" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="RelatedPartyTransactionAmountsOfTransaction" xlink:title="RelatedPartyTransactionAmountsOfTransaction" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="RelatedPartyTransactionAmountsOfTransaction" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to RelatedPartyTransactionAmountsOfTransaction" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_VolumeOfWaterPurchased" xlink:label="VolumeOfWaterPurchased" xlink:title="VolumeOfWaterPurchased" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="VolumeOfWaterPurchased" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to VolumeOfWaterPurchased" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems" xlink:label="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="PaymentsToAcquireWaterAndWasteWaterSystems" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="PaymentsToAcquireWaterAndWasteWaterSystems" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to PaymentsToAcquireWaterAndWasteWaterSystems" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ProjectedCostOfParticipationAgreement" xlink:label="ProjectedCostOfParticipationAgreement" xlink:title="ProjectedCostOfParticipationAgreement" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="ProjectedCostOfParticipationAgreement" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to ProjectedCostOfParticipationAgreement" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:label="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="PeriodOfFinancingOfPartnershipParticipationAgreement" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="PeriodOfFinancingOfPartnershipParticipationAgreement" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to PeriodOfFinancingOfPartnershipParticipationAgreement" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:title="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LoanExtendedMaximumCapacity" xlink:label="LoanExtendedMaximumCapacity" xlink:title="LoanExtendedMaximumCapacity" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="LoanExtendedMaximumCapacity" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to LoanExtendedMaximumCapacity" order="8.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="DebtInstrumentBasisSpreadOnVariableRate1" xlink:title="DebtInstrumentBasisSpreadOnVariableRate1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="DebtInstrumentBasisSpreadOnVariableRate1" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to DebtInstrumentBasisSpreadOnVariableRate1" order="9.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="DebtInstrumentInterestRateStatedPercentage" xlink:title="DebtInstrumentInterestRateStatedPercentage" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="DebtInstrumentInterestRateStatedPercentage" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to DebtInstrumentInterestRateStatedPercentage" order="10.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="DebtInstrumentMaturityDate" xlink:title="DebtInstrumentMaturityDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="DebtInstrumentMaturityDate" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to DebtInstrumentMaturityDate" order="11.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_DebtInstrumentRenewalTerm" xlink:label="DebtInstrumentRenewalTerm" xlink:title="DebtInstrumentRenewalTerm" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="DebtInstrumentRenewalTerm" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to DebtInstrumentRenewalTerm" order="12.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesReceivableRelatedParties" xlink:label="NotesReceivableRelatedParties" xlink:title="NotesReceivableRelatedParties" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="NotesReceivableRelatedParties" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to NotesReceivableRelatedParties" order="13.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NotesReceivableRelatedPartiesPrincipal" xlink:label="NotesReceivableRelatedPartiesPrincipal" xlink:title="NotesReceivableRelatedPartiesPrincipal" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="NotesReceivableRelatedPartiesPrincipal" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to NotesReceivableRelatedPartiesPrincipal" order="14.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NotesReceivableRelatedPartiesAccruedInterest" xlink:label="NotesReceivableRelatedPartiesAccruedInterest" xlink:title="NotesReceivableRelatedPartiesAccruedInterest" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="NotesReceivableRelatedPartiesAccruedInterest" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to NotesReceivableRelatedPartiesAccruedInterest" order="15.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyEstimatedCost" xlink:label="RelatedPartyEstimatedCost" xlink:title="RelatedPartyEstimatedCost" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="RelatedPartyEstimatedCost" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to RelatedPartyEstimatedCost" order="16.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts" order="17.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories" order="18.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:label="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:title="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" xlink:title="presentation: RelatedPartyTransactionDueFromToRelatedPartyAbstract to RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed" order="19.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionLineItems" xlink:to="RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="presentation: RelatedPartyTransactionLineItems to RelatedPartyTransactionDueFromToRelatedPartyAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="RelatedPartyTransactionLineItems" xlink:title="presentation: ScheduleOfRelatedPartyTransactionsByRelatedPartyTable to RelatedPartyTransactionLineItems" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RelatedPartyTransactionsAbstract" xlink:to="ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:title="presentation: RelatedPartyTransactionsAbstract to ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SignificantCustomersDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RisksAndUncertaintiesAbstract" xlink:label="RisksAndUncertaintiesAbstract" xlink:title="RisksAndUncertaintiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskTable" xlink:label="ConcentrationRiskTable" xlink:title="ConcentrationRiskTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="ConcentrationRiskByBenchmarkAxis" xlink:title="ConcentrationRiskByBenchmarkAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="ConcentrationRiskBenchmarkDomain" xlink:title="ConcentrationRiskBenchmarkDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SalesMember" xlink:label="SalesMember" xlink:title="SalesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="SalesMember" xlink:title="presentation: ConcentrationRiskBenchmarkDomain to SalesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SalesRevenueNetMember" xlink:label="SalesRevenueNetMember" xlink:title="SalesRevenueNetMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="SalesRevenueNetMember" xlink:title="presentation: ConcentrationRiskBenchmarkDomain to SalesRevenueNetMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableMember" xlink:label="AccountsReceivableMember" xlink:title="AccountsReceivableMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="AccountsReceivableMember" xlink:title="presentation: ConcentrationRiskBenchmarkDomain to AccountsReceivableMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskByBenchmarkAxis" xlink:to="ConcentrationRiskBenchmarkDomain" xlink:title="presentation: ConcentrationRiskByBenchmarkAxis to ConcentrationRiskBenchmarkDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskTable" xlink:to="ConcentrationRiskByBenchmarkAxis" xlink:title="presentation: ConcentrationRiskTable to ConcentrationRiskByBenchmarkAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="presentation: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="presentation: SegmentDomain to LandDevelopmentActivitiesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="presentation: StatementBusinessSegmentsAxis to SegmentDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="presentation: ConcentrationRiskTable to StatementBusinessSegmentsAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MajorCustomersAxis" xlink:label="MajorCustomersAxis" xlink:title="MajorCustomersAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_NameOfMajorCustomerDomain" xlink:label="NameOfMajorCustomerDomain" xlink:title="NameOfMajorCustomerDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RangeviewDistrictMember" xlink:label="RangeviewDistrictMember" xlink:title="RangeviewDistrictMember" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_RidgeviewYouthServicesCenterMember" xlink:label="RidgeviewYouthServicesCenterMember" xlink:title="RidgeviewYouthServicesCenterMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeviewDistrictMember" xlink:to="RidgeviewYouthServicesCenterMember" xlink:title="presentation: RangeviewDistrictMember to RidgeviewYouthServicesCenterMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_SkyRanchCommunityDevelopmentMember" xlink:label="SkyRanchCommunityDevelopmentMember" xlink:title="SkyRanchCommunityDevelopmentMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeviewDistrictMember" xlink:to="SkyRanchCommunityDevelopmentMember" xlink:title="presentation: RangeviewDistrictMember to SkyRanchCommunityDevelopmentMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ElbertHighway86CommercialDistrictMember" xlink:label="ElbertHighway86CommercialDistrictMember" xlink:title="ElbertHighway86CommercialDistrictMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeviewDistrictMember" xlink:to="ElbertHighway86CommercialDistrictMember" xlink:title="presentation: RangeviewDistrictMember to ElbertHighway86CommercialDistrictMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NameOfMajorCustomerDomain" xlink:to="RangeviewDistrictMember" xlink:title="presentation: NameOfMajorCustomerDomain to RangeviewDistrictMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerOneMember" xlink:label="CustomerOneMember" xlink:title="CustomerOneMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NameOfMajorCustomerDomain" xlink:to="CustomerOneMember" xlink:title="presentation: NameOfMajorCustomerDomain to CustomerOneMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerTwoMember" xlink:label="CustomerTwoMember" xlink:title="CustomerTwoMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NameOfMajorCustomerDomain" xlink:to="CustomerTwoMember" xlink:title="presentation: NameOfMajorCustomerDomain to CustomerTwoMember" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_CustomerThreeMember" xlink:label="CustomerThreeMember" xlink:title="CustomerThreeMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NameOfMajorCustomerDomain" xlink:to="CustomerThreeMember" xlink:title="presentation: NameOfMajorCustomerDomain to CustomerThreeMember" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_OneOtherCustomerMember" xlink:label="OneOtherCustomerMember" xlink:title="OneOtherCustomerMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NameOfMajorCustomerDomain" xlink:to="OneOtherCustomerMember" xlink:title="presentation: NameOfMajorCustomerDomain to OneOtherCustomerMember" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="MajorCustomersAxis" xlink:to="NameOfMajorCustomerDomain" xlink:title="presentation: MajorCustomersAxis to NameOfMajorCustomerDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskTable" xlink:to="MajorCustomersAxis" xlink:title="presentation: ConcentrationRiskTable to MajorCustomersAxis" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskLineItems" xlink:label="ConcentrationRiskLineItems" xlink:title="ConcentrationRiskLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_ConcentrationRiskPercentageAbstract" xlink:label="ConcentrationRiskPercentageAbstract" xlink:title="ConcentrationRiskPercentageAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="ConcentrationRiskPercentage1" xlink:title="ConcentrationRiskPercentage1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskPercentageAbstract" xlink:to="ConcentrationRiskPercentage1" xlink:title="presentation: ConcentrationRiskPercentageAbstract to ConcentrationRiskPercentage1" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NumberOfCustomers" xlink:label="NumberOfCustomers" xlink:title="NumberOfCustomers" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskPercentageAbstract" xlink:to="NumberOfCustomers" xlink:title="presentation: ConcentrationRiskPercentageAbstract to NumberOfCustomers" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskLineItems" xlink:to="ConcentrationRiskPercentageAbstract" xlink:title="presentation: ConcentrationRiskLineItems to ConcentrationRiskPercentageAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConcentrationRiskTable" xlink:to="ConcentrationRiskLineItems" xlink:title="presentation: ConcentrationRiskTable to ConcentrationRiskLineItems" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RisksAndUncertaintiesAbstract" xlink:to="ConcentrationRiskTable" xlink:title="presentation: RisksAndUncertaintiesAbstract to ConcentrationRiskTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/AccruedLiabilitiesDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PayablesAndAccrualsAbstract" xlink:label="PayablesAndAccrualsAbstract" xlink:title="PayablesAndAccrualsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="AccruedLiabilitiesCurrent" xlink:title="AccruedLiabilitiesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="AccruedLiabilitiesCurrent" xlink:title="presentation: PayablesAndAccrualsAbstract to AccruedLiabilitiesCurrent" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="OperatingLeaseLiabilityCurrent" xlink:title="OperatingLeaseLiabilityCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="OperatingLeaseLiabilityCurrent" xlink:title="presentation: PayablesAndAccrualsAbstract to OperatingLeaseLiabilityCurrent" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedSalariesCurrent" xlink:label="AccruedSalariesCurrent" xlink:title="AccruedSalariesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="AccruedSalariesCurrent" xlink:title="presentation: PayablesAndAccrualsAbstract to AccruedSalariesCurrent" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:label="AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:title="AccrualForTaxesOtherThanIncomeTaxesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:title="presentation: PayablesAndAccrualsAbstract to AccrualForTaxesOtherThanIncomeTaxesCurrent" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedProfessionalFeesCurrent" xlink:label="AccruedProfessionalFeesCurrent" xlink:title="AccruedProfessionalFeesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="AccruedProfessionalFeesCurrent" xlink:title="presentation: PayablesAndAccrualsAbstract to AccruedProfessionalFeesCurrent" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="OtherAccruedLiabilitiesCurrent" xlink:title="OtherAccruedLiabilitiesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="OtherAccruedLiabilitiesCurrent" xlink:title="presentation: PayablesAndAccrualsAbstract to OtherAccruedLiabilitiesCurrent" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_PayablesForInfrastructureCapitalProjects" xlink:label="PayablesForInfrastructureCapitalProjects" xlink:title="PayablesForInfrastructureCapitalProjects" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="PayablesForInfrastructureCapitalProjects" xlink:title="presentation: PayablesAndAccrualsAbstract to PayablesForInfrastructureCapitalProjects" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:label="DueToRelatedPartiesCurrent" xlink:title="DueToRelatedPartiesCurrent" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="PayablesAndAccrualsAbstract" xlink:to="DueToRelatedPartiesCurrent" xlink:title="presentation: PayablesAndAccrualsAbstract to DueToRelatedPartiesCurrent" order="7.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentInformationRevenueBySegmentsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="SegmentReportingAbstract" xlink:title="SegmentReportingAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NumberOfOperatingSegments" xlink:label="NumberOfOperatingSegments" xlink:title="NumberOfOperatingSegments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingAbstract" xlink:to="NumberOfOperatingSegments" xlink:title="presentation: SegmentReportingAbstract to NumberOfOperatingSegments" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="presentation: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="presentation: SegmentDomain to LandDevelopmentActivitiesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="presentation: StatementBusinessSegmentsAxis to SegmentDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="presentation: ScheduleOfSegmentReportingInformationBySegmentTable to StatementBusinessSegmentsAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="SegmentReportingInformationLineItems" xlink:title="SegmentReportingInformationLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationRevenueAbstract" xlink:label="SegmentReportingInformationRevenueAbstract" xlink:title="SegmentReportingInformationRevenueAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="RevenueFromContractWithCustomerExcludingAssessedTax" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingInformationRevenueAbstract" xlink:to="RevenueFromContractWithCustomerExcludingAssessedTax" xlink:title="presentation: SegmentReportingInformationRevenueAbstract to RevenueFromContractWithCustomerExcludingAssessedTax" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingInformationLineItems" xlink:to="SegmentReportingInformationRevenueAbstract" xlink:title="presentation: SegmentReportingInformationLineItems to SegmentReportingInformationRevenueAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="SegmentReportingInformationLineItems" xlink:title="presentation: ScheduleOfSegmentReportingInformationBySegmentTable to SegmentReportingInformationLineItems" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingAbstract" xlink:to="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="presentation: SegmentReportingAbstract to ScheduleOfSegmentReportingInformationBySegmentTable" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="SegmentReportingAbstract" xlink:title="SegmentReportingAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="presentation: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="presentation: SegmentDomain to LandDevelopmentActivitiesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="presentation: StatementBusinessSegmentsAxis to SegmentDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="presentation: ScheduleOfSegmentReportingInformationBySegmentTable to StatementBusinessSegmentsAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="ConsolidationItemsAxis" xlink:title="ConsolidationItemsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="ConsolidationItemsDomain" xlink:title="ConsolidationItemsDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="CorporateNonSegmentMember" xlink:title="CorporateNonSegmentMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConsolidationItemsDomain" xlink:to="CorporateNonSegmentMember" xlink:title="presentation: ConsolidationItemsDomain to CorporateNonSegmentMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConsolidationItemsAxis" xlink:to="ConsolidationItemsDomain" xlink:title="presentation: ConsolidationItemsAxis to ConsolidationItemsDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="ConsolidationItemsAxis" xlink:title="presentation: ScheduleOfSegmentReportingInformationBySegmentTable to ConsolidationItemsAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="SegmentReportingInformationLineItems" xlink:title="SegmentReportingInformationLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:label="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:title="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:to="IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:title="presentation: SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract to IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingInformationLineItems" xlink:to="SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:title="presentation: SegmentReportingInformationLineItems to SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="SegmentReportingInformationLineItems" xlink:title="presentation: ScheduleOfSegmentReportingInformationBySegmentTable to SegmentReportingInformationLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingAbstract" xlink:to="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="presentation: SegmentReportingAbstract to ScheduleOfSegmentReportingInformationBySegmentTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/SegmentReportingCorporateAssetsDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="SegmentReportingAbstract" xlink:title="SegmentReportingAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:label="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:title="ReconciliationOfAssetsFromSegmentToConsolidatedTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_WholesaleWaterAndWastewaterServicesMember" xlink:label="WholesaleWaterAndWastewaterServicesMember" xlink:title="WholesaleWaterAndWastewaterServicesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="WholesaleWaterAndWastewaterServicesMember" xlink:title="presentation: SegmentDomain to WholesaleWaterAndWastewaterServicesMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_LandDevelopmentActivitiesMember" xlink:label="LandDevelopmentActivitiesMember" xlink:title="LandDevelopmentActivitiesMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentDomain" xlink:to="LandDevelopmentActivitiesMember" xlink:title="presentation: SegmentDomain to LandDevelopmentActivitiesMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="StatementBusinessSegmentsAxis" xlink:to="SegmentDomain" xlink:title="presentation: StatementBusinessSegmentsAxis to SegmentDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:to="StatementBusinessSegmentsAxis" xlink:title="presentation: ReconciliationOfAssetsFromSegmentToConsolidatedTable to StatementBusinessSegmentsAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="ConsolidationItemsAxis" xlink:title="ConsolidationItemsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="ConsolidationItemsDomain" xlink:title="ConsolidationItemsDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="CorporateNonSegmentMember" xlink:title="CorporateNonSegmentMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConsolidationItemsDomain" xlink:to="CorporateNonSegmentMember" xlink:title="presentation: ConsolidationItemsDomain to CorporateNonSegmentMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ConsolidationItemsAxis" xlink:to="ConsolidationItemsDomain" xlink:title="presentation: ConsolidationItemsAxis to ConsolidationItemsDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:to="ConsolidationItemsAxis" xlink:title="presentation: ReconciliationOfAssetsFromSegmentToConsolidatedTable to ConsolidationItemsAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="SegmentReportingInformationLineItems" xlink:title="SegmentReportingInformationLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationAdditionalInformationAbstract" xlink:label="SegmentReportingInformationAdditionalInformationAbstract" xlink:title="SegmentReportingInformationAdditionalInformationAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingInformationAdditionalInformationAbstract" xlink:to="Assets" xlink:title="presentation: SegmentReportingInformationAdditionalInformationAbstract to Assets" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingInformationLineItems" xlink:to="SegmentReportingInformationAdditionalInformationAbstract" xlink:title="presentation: SegmentReportingInformationLineItems to SegmentReportingInformationAdditionalInformationAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:to="SegmentReportingInformationLineItems" xlink:title="presentation: ReconciliationOfAssetsFromSegmentToConsolidatedTable to SegmentReportingInformationLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="SegmentReportingAbstract" xlink:to="ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:title="presentation: SegmentReportingAbstract to ReconciliationOfAssetsFromSegmentToConsolidatedTable" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
  <link:presentationLink xlink:type="extended" xlink:role="http://purecyclewater.com/role/IncomeTaxesDetails">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="IncomeTaxDisclosureAbstract" xlink:title="IncomeTaxDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="IncomeTaxExpenseBenefit" xlink:title="IncomeTaxExpenseBenefit" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="IncomeTaxExpenseBenefit" xlink:title="presentation: IncomeTaxDisclosureAbstract to IncomeTaxExpenseBenefit" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="CurrentIncomeTaxExpenseBenefit" xlink:title="CurrentIncomeTaxExpenseBenefit" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="CurrentIncomeTaxExpenseBenefit" xlink:title="presentation: IncomeTaxDisclosureAbstract to CurrentIncomeTaxExpenseBenefit" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="DeferredIncomeTaxExpenseBenefit" xlink:title="DeferredIncomeTaxExpenseBenefit" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="DeferredIncomeTaxExpenseBenefit" xlink:title="presentation: IncomeTaxDisclosureAbstract to DeferredIncomeTaxExpenseBenefit" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_EstimatedAnnualEffectiveIncomeTaxRate" xlink:label="EstimatedAnnualEffectiveIncomeTaxRate" xlink:title="EstimatedAnnualEffectiveIncomeTaxRate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="EstimatedAnnualEffectiveIncomeTaxRate" xlink:title="presentation: IncomeTaxDisclosureAbstract to EstimatedAnnualEffectiveIncomeTaxRate" order="3.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="EffectiveIncomeTaxRateContinuingOperations" xlink:title="EffectiveIncomeTaxRateContinuingOperations" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="EffectiveIncomeTaxRateContinuingOperations" xlink:title="presentation: IncomeTaxDisclosureAbstract to EffectiveIncomeTaxRateContinuingOperations" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:label="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:title="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="DeferredTaxAssetsOperatingLossCarryforwards" xlink:title="DeferredTaxAssetsOperatingLossCarryforwards" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="DeferredTaxAssetsOperatingLossCarryforwards" xlink:title="presentation: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to DeferredTaxAssetsOperatingLossCarryforwards" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:label="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:title="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:title="presentation: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsDeferredIncome" xlink:label="DeferredTaxAssetsDeferredIncome" xlink:title="DeferredTaxAssetsDeferredIncome" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="DeferredTaxAssetsDeferredIncome" xlink:title="presentation: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to DeferredTaxAssetsDeferredIncome" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:title="DeferredTaxLiabilitiesPropertyPlantAndEquipment" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:title="presentation: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to DeferredTaxLiabilitiesPropertyPlantAndEquipment" order="3.0" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:title="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:title="presentation: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" order="4.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="DeferredTaxAssetsOther" xlink:title="DeferredTaxAssetsOther" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="DeferredTaxAssetsOther" xlink:title="presentation: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to DeferredTaxAssetsOther" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="DeferredTaxAssetsLiabilitiesNet" xlink:title="DeferredTaxAssetsLiabilitiesNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:to="DeferredTaxAssetsLiabilitiesNet" xlink:title="presentation: ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract to DeferredTaxAssetsLiabilitiesNet" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:title="presentation: IncomeTaxDisclosureAbstract to ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" order="5.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsTable" xlink:label="OperatingLossCarryforwardsTable" xlink:title="OperatingLossCarryforwardsTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="IncomeTaxAuthorityAxis" xlink:title="IncomeTaxAuthorityAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="IncomeTaxAuthorityDomain" xlink:title="IncomeTaxAuthorityDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DomesticCountryMember" xlink:label="DomesticCountryMember" xlink:title="DomesticCountryMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxAuthorityDomain" xlink:to="DomesticCountryMember" xlink:title="presentation: IncomeTaxAuthorityDomain to DomesticCountryMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="StateAndLocalJurisdictionMember" xlink:title="StateAndLocalJurisdictionMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxAuthorityDomain" xlink:to="StateAndLocalJurisdictionMember" xlink:title="presentation: IncomeTaxAuthorityDomain to StateAndLocalJurisdictionMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxAuthorityAxis" xlink:to="IncomeTaxAuthorityDomain" xlink:title="presentation: IncomeTaxAuthorityAxis to IncomeTaxAuthorityDomain" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingLossCarryforwardsTable" xlink:to="IncomeTaxAuthorityAxis" xlink:title="presentation: OperatingLossCarryforwardsTable to IncomeTaxAuthorityAxis" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="RangeMember" xlink:title="RangeMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="MinimumMember" xlink:title="MinimumMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeMember" xlink:to="MinimumMember" xlink:title="presentation: RangeMember to MinimumMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="MaximumMember" xlink:title="MaximumMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeMember" xlink:to="MaximumMember" xlink:title="presentation: RangeMember to MaximumMember" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="RangeAxis" xlink:to="RangeMember" xlink:title="presentation: RangeAxis to RangeMember" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingLossCarryforwardsTable" xlink:to="RangeAxis" xlink:title="presentation: OperatingLossCarryforwardsTable to RangeAxis" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsLineItems" xlink:label="OperatingLossCarryforwardsLineItems" xlink:title="OperatingLossCarryforwardsLineItems" />
    <link:loc xlink:type="locator" xlink:href="pcyo-20200531.xsd#pcyo_NetOperatingLossCarryforwardsAbstract" xlink:label="NetOperatingLossCarryforwardsAbstract" xlink:title="NetOperatingLossCarryforwardsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="IncomeTaxesPaidNet" xlink:title="IncomeTaxesPaidNet" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetOperatingLossCarryforwardsAbstract" xlink:to="IncomeTaxesPaidNet" xlink:title="presentation: NetOperatingLossCarryforwardsAbstract to IncomeTaxesPaidNet" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="OperatingLossCarryforwards" xlink:title="OperatingLossCarryforwards" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetOperatingLossCarryforwardsAbstract" xlink:to="OperatingLossCarryforwards" xlink:title="presentation: NetOperatingLossCarryforwardsAbstract to OperatingLossCarryforwards" order="1.0" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsExpirationDate" xlink:label="OperatingLossCarryforwardsExpirationDate" xlink:title="OperatingLossCarryforwardsExpirationDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="NetOperatingLossCarryforwardsAbstract" xlink:to="OperatingLossCarryforwardsExpirationDate" xlink:title="presentation: NetOperatingLossCarryforwardsAbstract to OperatingLossCarryforwardsExpirationDate" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingLossCarryforwardsLineItems" xlink:to="NetOperatingLossCarryforwardsAbstract" xlink:title="presentation: OperatingLossCarryforwardsLineItems to NetOperatingLossCarryforwardsAbstract" order="0.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="OperatingLossCarryforwardsTable" xlink:to="OperatingLossCarryforwardsLineItems" xlink:title="presentation: OperatingLossCarryforwardsTable to OperatingLossCarryforwardsLineItems" order="2.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="IncomeTaxDisclosureAbstract" xlink:to="OperatingLossCarryforwardsTable" xlink:title="presentation: IncomeTaxDisclosureAbstract to OperatingLossCarryforwardsTable" order="6.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>image00001.jpg
<TEXT>
begin 644 image00001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  8$!08%! 8&!08'!P8("A *"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!# 0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P  1"  W 1 # 2(  A$! Q$!_\0
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M9BPZ[F7:3^1Q2?V39GK&V[.=WF-NZ8QG.<8[444 /CT^WAA6.&,(%8.O).&
:P#^  I=-LH["T6"+D EB<8R2<D_K110!_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331151285576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information - shares<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>Jul. 02, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">PURE CYCLE CORP<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000276720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--08-31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,853,598<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">May 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">Q3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CO<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a Smaller Reporting Company (SRC).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331152456264">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)<br></strong></div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 17,074,761<span></span>
</td>
<td class="nump">$ 4,478,020<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermInvestments', window );">Short-term investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">5,188,813<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Trade accounts receivable, net</a></td>
<td class="nump">645,130<span></span>
</td>
<td class="nump">1,099,631<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrent', window );">Prepaid expenses and deposits</a></td>
<td class="nump">1,063,777<span></span>
</td>
<td class="nump">1,016,751<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryLandHeldForDevelopmentAndSale', window );">Land development inventories</a></td>
<td class="nump">3,895,759<span></span>
</td>
<td class="nump">11,613,112<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesReceivable', window );">Income taxes receivable</a></td>
<td class="nump">323,108<span></span>
</td>
<td class="nump">141,410<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">23,002,535<span></span>
</td>
<td class="nump">23,537,737<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Investments in water and water systems, net</a></td>
<td class="nump">55,393,452<span></span>
</td>
<td class="nump">50,270,310<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAndMineralRights', window );">Land and mineral interests</a></td>
<td class="nump">5,439,290<span></span>
</td>
<td class="nump">5,104,477<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableRelatedPartiesNoncurrent', window );">Notes receivable - related parties, including accrued interest</a></td>
<td class="nump">1,059,724<span></span>
</td>
<td class="nump">988,381<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other assets</a></td>
<td class="nump">2,076,989<span></span>
</td>
<td class="nump">1,945,202<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Long-term land investment</a></td>
<td class="nump">450,641<span></span>
</td>
<td class="nump">450,641<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Operating leases - right of use assets, less current portion</a></td>
<td class="nump">213,252<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxAssetsNet', window );">Deferred tax asset</a></td>
<td class="nump">573,190<span></span>
</td>
<td class="nump">1,283,246<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesReceivableNoncurrent', window );">Income taxes receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">141,410<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">88,209,073<span></span>
</td>
<td class="nump">83,721,404<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">207,348<span></span>
</td>
<td class="nump">170,822<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent', window );">Accrued liabilities</a></td>
<td class="nump">643,709<span></span>
</td>
<td class="nump">1,097,922<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableRelatedPartiesCurrent', window );">Accrued liabilities - related parties</a></td>
<td class="nump">629,848<span></span>
</td>
<td class="nump">2,330,496<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityCurrent', window );">Deferred revenues, current</a></td>
<td class="nump">2,526,155<span></span>
</td>
<td class="nump">3,991,535<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueLeasesCurrent', window );">Deferred oil and gas lease payment and water sales payment</a></td>
<td class="nump">2,254,830<span></span>
</td>
<td class="nump">706,464<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">6,261,890<span></span>
</td>
<td class="nump">8,297,239<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityNoncurrent', window );">Deferred oil and gas lease payment and water sales payment, less current portion</a></td>
<td class="nump">212,819<span></span>
</td>
<td class="nump">360,884<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityNoncurrent', window );">Lease obligations - operating leases, less current portion</a></td>
<td class="nump">140,318<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiability', window );">Participating interests in Export Water Supply</a></td>
<td class="nump">327,942<span></span>
</td>
<td class="nump">332,140<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">6,942,969<span></span>
</td>
<td class="nump">8,990,263<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>SHAREHOLDERS' EQUITY:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, Series B - par value $0.001 per share, 25 million shares authorized; 432,513 shares issued and outstanding (liquidation preference of $432,513)</a></td>
<td class="nump">433<span></span>
</td>
<td class="nump">433<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValueOutstanding', window );">Common stock, Par value 1/3 of $.01 per share, 40 million shares authorized; 23,853,598 and 23,826,598 shares outstanding, respectively</a></td>
<td class="nump">79,517<span></span>
</td>
<td class="nump">79,427<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
<td class="nump">172,835,457<span></span>
</td>
<td class="nump">172,360,413<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,891<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(91,649,303)<span></span>
</td>
<td class="num">(97,713,023)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders' equity</a></td>
<td class="nump">81,266,104<span></span>
</td>
<td class="nump">74,731,141<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and shareholders' equity</a></td>
<td class="nump">$ 88,209,073<span></span>
</td>
<td class="nump">$ 83,721,404<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_AccruedLiabilitiesExcludingRelatedPartyCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LandAndMineralRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount at the balance sheet date of land and mineral rights, or rights to extract a mineral from the earth or to receive payment in the form of a royalty for the extraction of minerals, net of amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LandAndMineralRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating interests liability as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4428-111522<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4531-111522<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e637-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669686-108580<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e681-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6801-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValueOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValueOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130531-203044<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130532-203044<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130532-203044<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130531-203044<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueLeasesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred lease income, classified as noncurrent. Includes, but is not limited to, amount paid in advance by lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.26)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueLeasesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.5(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesReceivableNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount due after one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(5)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesReceivableNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryLandHeldForDevelopmentAndSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount net of impairment reserves as of the balance sheet date primarily consisting of deposits for land purchases (including option payments), related acquisition costs, and land which is not expected to be developed in the next two years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryLandHeldForDevelopmentAndSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableRelatedPartiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amounts due from parties associated with the reporting entity as evidenced by a written promise to pay, due after 1 year (or 1 business cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableRelatedPartiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's right to use underlying asset under operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncurrent assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6787-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6387103&amp;loc=d3e6435-108320<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=68074540&amp;loc=d3e5879-108316<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(1)(g))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331148854712">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (unaudited) - USD ($)<br></strong></div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>SHAREHOLDERS' EQUITY:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized (in shares)</a></td>
<td class="nump">25,000,000<span></span>
</td>
<td class="nump">25,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued (in shares)</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="nump">432,513<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding (in shares)</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="nump">432,513<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockLiquidationPreferenceValue', window );">Liquidation preference</a></td>
<td class="nump">$ 432,513<span></span>
</td>
<td class="nump">$ 432,513<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.003<span></span>
</td>
<td class="nump">$ 0.003<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized (in shares)</a></td>
<td class="nump">40,000,000<span></span>
</td>
<td class="nump">40,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">23,853,598<span></span>
</td>
<td class="nump">23,826,598<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockLiquidationPreferenceValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of the difference between preference in liquidation and the par or stated values of the preferred shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockLiquidationPreferenceValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149503288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th" colspan="2"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">$ 1,850,121<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 5,184,663<span></span>
</td>
<td class="nump">$ 15,829,730<span></span>
</td>
<td class="nump">$ 10,887,631<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingCostsAndExpensesAbstract', window );"><strong>Expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_WaterServiceOperationsExpense', window );">Water service operations</a></td>
<td class="num">(94,934)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(400,495)<span></span>
</td>
<td class="num">(556,023)<span></span>
</td>
<td class="num">(965,279)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_WastewaterServiceOperationsExpense', window );">Wastewater service operations</a></td>
<td class="num">(62,967)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(14,512)<span></span>
</td>
<td class="num">(126,479)<span></span>
</td>
<td class="num">(21,889)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandDevelopmentConstructionCosts', window );">Land development construction costs</a></td>
<td class="num">(555,780)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,588,072)<span></span>
</td>
<td class="num">(10,436,213)<span></span>
</td>
<td class="num">(5,715,994)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostDepreciationAmortizationAndDepletion', window );">Depletion and depreciation</a></td>
<td class="num">(385,788)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(225,334)<span></span>
</td>
<td class="num">(987,795)<span></span>
</td>
<td class="num">(537,709)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_OtherServicesExpense', window );">Other</a></td>
<td class="num">(7,104)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(33,889)<span></span>
</td>
<td class="num">(34,554)<span></span>
</td>
<td class="num">(104,162)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Total cost of revenues</a></td>
<td class="num">(1,106,573)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(3,262,302)<span></span>
</td>
<td class="num">(12,141,064)<span></span>
</td>
<td class="num">(7,345,033)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit</a></td>
<td class="nump">743,548<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,922,361<span></span>
</td>
<td class="nump">3,688,666<span></span>
</td>
<td class="nump">3,542,598<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="num">(800,609)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(665,684)<span></span>
</td>
<td class="num">(2,638,594)<span></span>
</td>
<td class="num">(1,864,125)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationNonproduction', window );">Depreciation</a></td>
<td class="num">(85,596)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(97,846)<span></span>
</td>
<td class="num">(265,950)<span></span>
</td>
<td class="num">(276,251)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Operating (loss) income</a></td>
<td class="num">(142,657)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,158,831<span></span>
</td>
<td class="nump">784,122<span></span>
</td>
<td class="nump">1,402,222<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherIncomeAndExpensesAbstract', window );"><strong>Other income (expense):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursementOfConstructionCostsRelatedParty', window );">Reimbursement of construction costs - related party</a></td>
<td class="nump">0<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,275,500<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RentalIncomeNonoperating', window );">Oil and gas lease income, net</a></td>
<td class="nump">61,740<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">13,933<span></span>
</td>
<td class="nump">185,221<span></span>
</td>
<td class="nump">41,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyIncomeNonoperating', window );">Oil and gas royalty income, net</a></td>
<td class="nump">74,130<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">37,263<span></span>
</td>
<td class="nump">612,744<span></span>
</td>
<td class="nump">113,104<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">24,462<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">53,986<span></span>
</td>
<td class="nump">162,431<span></span>
</td>
<td class="nump">246,809<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other</a></td>
<td class="nump">18,600<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,642)<span></span>
</td>
<td class="nump">18,600<span></span>
</td>
<td class="num">(4,617)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Income from operations before income taxes</a></td>
<td class="nump">36,275<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,261,371<span></span>
</td>
<td class="nump">8,038,618<span></span>
</td>
<td class="nump">1,799,318<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="num">(8,938)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1,974,898)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">27,337<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,261,371<span></span>
</td>
<td class="nump">6,063,720<span></span>
</td>
<td class="nump">1,799,318<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized holding losses</a></td>
<td class="num">(233)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(31)<span></span>
</td>
<td class="num">(3,891)<span></span>
</td>
<td class="num">(53,790)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Total comprehensive income</a></td>
<td class="nump">$ 27,104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 1,261,340<span></span>
</td>
<td class="nump">$ 6,059,829<span></span>
</td>
<td class="nump">$ 1,745,528<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per common share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic (in dollars per share)</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.25<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (in dollars per share)</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.25<span></span>
</td>
<td class="nump">$ 0.07<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average common shares outstanding:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in shares)</a></td>
<td class="nump">23,852,765<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">23,801,598<span></span>
</td>
<td class="nump">23,841,876<span></span>
</td>
<td class="nump">23,791,320<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in shares)</a></td>
<td class="nump">24,052,820<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">24,003,242<span></span>
</td>
<td class="nump">24,071,018<span></span>
</td>
<td class="nump">23,998,254<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageMember', window );">Metered Water Usage - Municipal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">$ 97,747<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 39,567<span></span>
</td>
<td class="nump">$ 237,952<span></span>
</td>
<td class="nump">$ 157,173<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageOilAndGasMember', window );">Metered Water Usage - Oil and Gas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">15,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,308,454<span></span>
</td>
<td class="nump">71,944<span></span>
</td>
<td class="nump">2,717,717<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_WastewaterTreatmentFeesMember', window );">Wastewater Treatment Fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">22,489<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">7,419<span></span>
</td>
<td class="nump">62,377<span></span>
</td>
<td class="nump">23,821<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_WaterAndWastewaterTapFeesMember', window );">Water and Wastewater Tap Fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">1,004,905<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,083,189<span></span>
</td>
<td class="nump">3,849,878<span></span>
</td>
<td class="nump">1,805,091<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_LotSalesMember', window );">Lot Sales [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">696,170<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,708,093<span></span>
</td>
<td class="nump">11,503,523<span></span>
</td>
<td class="nump">6,035,670<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=us-gaap_ServiceOtherMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">$ 13,810<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 37,941<span></span>
</td>
<td class="nump">$ 104,056<span></span>
</td>
<td class="nump">$ 148,159<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Amount is less than $0.01 per share</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LandDevelopmentConstructionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Costs incurred related to construction of land development.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LandDevelopmentConstructionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_OtherServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other costs incurred and are directly related to services rendered by an entity during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_OtherServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ReimbursementOfConstructionCostsRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognized from a related party for the reimbursement of construction costs in excess of actual expenses incurred by the Company for the cost of public improvements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ReimbursementOfConstructionCostsRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_WastewaterServiceOperationsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost incurred related to wastewater service operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_WastewaterServiceOperationsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_WaterServiceOperationsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost incurred related to water service operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_WaterServiceOperationsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(26))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostDepreciationAmortizationAndDepletion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for allocation of cost of tangible and intangible assets over their useful lives, and reduction in quantity of natural resource due to consumption directly used in production of good and rendering of service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostDepreciationAmortizationAndDepletion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate cost of goods produced and sold and services rendered during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationNonproduction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationNonproduction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1448-109256<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32672-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120385591&amp;loc=d3e38679-109324<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(9))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingCostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingCostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax and before adjustment, of unrealized holding gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Excludes unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherIncomeAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherIncomeAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (expense) related to nonoperating activities, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RentalIncomeNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income earned by providing the use of assets to an outside party in exchange for a payment or series of payments that is nonoperating in nature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RentalIncomeNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130543-203045<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130545-203045<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 924<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 11.L)<br> -URI http://asc.fasb.org/extlink&amp;oid=6472922&amp;loc=d3e499488-122856<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyIncomeNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ancillary revenue earned during the period from the consideration paid to the entity for the use of its rights and property by another party. Examples include licensing the use of copyrighted materials and leasing the extraction of natural resources.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyIncomeNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1505-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1448-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageOilAndGasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageOilAndGasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_WastewaterTreatmentFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_WastewaterTreatmentFeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_WaterAndWastewaterTapFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_WaterAndWastewaterTapFeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_LotSalesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_LotSalesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=us-gaap_ServiceOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=us-gaap_ServiceOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331145259080">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) - USD ($)<br></strong></div></th>
<th class="th"><div>Preferred Stock [Member]</div></th>
<th class="th">
<div>Preferred Stock [Member] </div>
<div>Cumulative Effect, Period of Adoption, Adjustment [Member]</div>
</th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th">
<div>Common Stock [Member] </div>
<div>Cumulative Effect, Period of Adoption, Adjustment [Member]</div>
</th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th">
<div>Additional Paid-in Capital [Member] </div>
<div>Cumulative Effect, Period of Adoption, Adjustment [Member]</div>
</th>
<th class="th"><div>Accumulated Other Comprehensive Income (Loss) [Member]</div></th>
<th class="th">
<div>Accumulated Other Comprehensive Income (Loss) [Member] </div>
<div>Cumulative Effect, Period of Adoption, Adjustment [Member]</div>
</th>
<th class="th"><div>Accumulated Deficit [Member]</div></th>
<th class="th">
<div>Accumulated Deficit [Member] </div>
<div>Cumulative Effect, Period of Adoption, Adjustment [Member]</div>
</th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Cumulative Effect, Period of Adoption, Adjustment [Member]</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Aug. 31, 2018</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 79,218<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 171,831,293<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 66,446<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (102,524,171)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 69,453,219<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at Aug. 31, 2018</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,764,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Stock option exercises</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,725<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Stock option exercises (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition', window );">Share-based compensation</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">257,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">257,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,799,318<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,799,318<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized holding loss on investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(53,790)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(53,790)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at May. 31, 2019</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172,203,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,656<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(100,724,853)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">71,571,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at May. 31, 2019</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,801,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Feb. 28, 2019</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172,107,735<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,687<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(101,986,224)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,213,975<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at Feb. 28, 2019</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,801,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Stock option exercises</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Stock option exercises (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition', window );">Share-based compensation</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">96,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">96,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,261,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,261,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized holding loss on investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(31)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(31)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at May. 31, 2019</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172,203,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,656<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(100,724,853)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">71,571,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at May. 31, 2019</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,801,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Aug. 31, 2019</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,427<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172,360,413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,891<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(97,713,023)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74,731,141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at Aug. 31, 2019</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,826,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Stock option exercises</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,975<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Stock option exercises (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices', window );">Stock granted for services</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">149,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">149,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Stock granted for services (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition', window );">Share-based compensation</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">285,709<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">285,709<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,063,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,063,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized holding loss on investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,891)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,891)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at May. 31, 2020</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,517<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172,835,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(91,649,303)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,266,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at May. 31, 2020</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,853,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Feb. 29, 2020</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172,748,925<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">233<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(91,676,640)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,152,460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at Feb. 29, 2020</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,851,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Stock option exercises</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,617<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Stock option exercises (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices', window );">Stock granted for services</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Stock granted for services (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition', window );">Share-based compensation</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,915<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,915<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,337<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,337<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized holding loss on investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(233)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(233)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at May. 31, 2020</a></td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,517<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 172,835,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (91,649,303)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 81,266,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance (in shares) at May. 31, 2020</a></td>
<td class="nump">432,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,853,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase to additional paid-in capital (APIC) for recognition of cost for option under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInStockholdersEquityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax and before adjustment, of unrealized holding gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Excludes unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued which are neither cancelled nor held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesIssuedForServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued in lieu of cash for services contributed to the entity. Value of the stock issued includes, but is not limited to, services contributed by vendors and founders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueIssuedForServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued as a result of the exercise of stock options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149451560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 6,063,720<span></span>
</td>
<td class="nump">$ 1,799,318<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided (used) by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expense</a></td>
<td class="nump">435,109<span></span>
</td>
<td class="nump">257,813<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation and depletion</a></td>
<td class="nump">1,253,745<span></span>
</td>
<td class="nump">813,960<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Recovery of doubtful accounts</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(31,233)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Investment in Well Enhancement and Recovery Systems LLC</a></td>
<td class="nump">11,730<span></span>
</td>
<td class="nump">7,846<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InterestIncomeAndOtherNonCashItems', window );">Interest income and other non-cash items</a></td>
<td class="num">(175)<span></span>
</td>
<td class="num">(315)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeRelatedParty', window );">Interest added to receivable from related parties</a></td>
<td class="num">(33,844)<span></span>
</td>
<td class="num">(30,753)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred income taxes</a></td>
<td class="nump">710,056<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories', window );">Proceeds from CAB reimbursement applied to land development inventories</a></td>
<td class="nump">4,229,501<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_IncreaseDecreaseInLandDevelopmentInventories', window );">Land development inventories</a></td>
<td class="nump">2,575,742<span></span>
</td>
<td class="num">(5,306,880)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Trade accounts receivable</a></td>
<td class="nump">454,501<span></span>
</td>
<td class="nump">504,252<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidExpense', window );">Prepaid expenses</a></td>
<td class="num">(47,027)<span></span>
</td>
<td class="num">(1,261,278)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties', window );">Notes receivable - related parties</a></td>
<td class="num">(37,499)<span></span>
</td>
<td class="num">(34,223)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="nump">75,063<span></span>
</td>
<td class="num">(90,097)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued liabilities</a></td>
<td class="num">(382,800)<span></span>
</td>
<td class="num">(739,878)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInIncomeTaxes', window );">Income taxes</a></td>
<td class="num">(40,288)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInContractWithCustomerLiability', window );">Deferred revenues</a></td>
<td class="num">(1,461,479)<span></span>
</td>
<td class="nump">1,270,747<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_IncreaseDecreaseInDeferredRevenueLeases', window );">Deferred income - oil and gas lease and water sales payment</a></td>
<td class="nump">1,400,300<span></span>
</td>
<td class="nump">98,722<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_IncreaseDecreaseInOperatingLeaseLiabilities', window );">Lease obligations - operating leases</a></td>
<td class="num">(2,743)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided (used) by operating activities</a></td>
<td class="nump">15,203,612<span></span>
</td>
<td class="num">(2,741,999)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments', window );">Sale and maturities of short-term investments</a></td>
<td class="nump">6,905,157<span></span>
</td>
<td class="nump">36,736,420<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireShortTermInvestments', window );">Purchase of short-term investments</a></td>
<td class="num">(1,720,234)<span></span>
</td>
<td class="num">(34,071,015)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PaymentsToAcquireWaterWaterSystemsAndLand', window );">Investments in water, water systems and land</a></td>
<td class="num">(7,302,326)<span></span>
</td>
<td class="num">(7,695,968)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment', window );">Purchase of property and equipment</a></td>
<td class="num">(525,295)<span></span>
</td>
<td class="num">(320,014)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used by investing activities</a></td>
<td class="num">(2,642,698)<span></span>
</td>
<td class="num">(5,350,577)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from exercise of stock options</a></td>
<td class="nump">40,025<span></span>
</td>
<td class="nump">114,850<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PaymentsToContingentLiabilityHolders', window );">Payments to contingent liability holders</a></td>
<td class="num">(4,198)<span></span>
</td>
<td class="num">(6,002)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by financing activities</a></td>
<td class="nump">35,827<span></span>
</td>
<td class="nump">108,848<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect', window );">Net change in cash and cash equivalents</a></td>
<td class="nump">12,596,741<span></span>
</td>
<td class="num">(7,983,728)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash and cash equivalents - beginning of period</a></td>
<td class="nump">4,478,020<span></span>
</td>
<td class="nump">11,565,038<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash and cash equivalents - end of period</a></td>
<td class="nump">17,074,761<span></span>
</td>
<td class="nump">3,581,310<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowElementsAbstract', window );"><strong>SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION AND NON-CASH ACTIVITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities', window );">Changes in Land development inventories included in accounts payable and accrued liabilities</a></td>
<td class="nump">912,110<span></span>
</td>
<td class="nump">2,191,577<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities', window );">Changes in Investments in water, water systems and land included in accounts payable and accrued liabilities</a></td>
<td class="num">(897,516)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Income taxes paid</a></td>
<td class="nump">$ 1,305,130<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in investments in water, water systems and land included in accounts payable and accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ChangesInInvestmentsInWaterWaterSystemsAndLandIncludedInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in land development inventories included in accounts payable and accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ChangesInLandDevelopmentInventoriesIncludedInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_IncreaseDecreaseInDeferredRevenueLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the obligation created by deferred revenue leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_IncreaseDecreaseInDeferredRevenueLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_IncreaseDecreaseInLandDevelopmentInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of land development inventory, primarily consisting of deposits for land purchases (including option payments), related acquisition costs, and land which is not expected to be developed in the next two years, held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_IncreaseDecreaseInLandDevelopmentInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_IncreaseDecreaseInOperatingLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from operating lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_IncreaseDecreaseInOperatingLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from the Sky Ranch Community Authority Board (CAB) reimbursement applied to land development inventories classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_IncreaseDecreaseInReimbursementAppliedToLandDevelopmentInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InterestIncomeAndOtherNonCashItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income and other non-cash income recognized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InterestIncomeAndOtherNonCashItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PaymentsToAcquireWaterWaterSystemsAndLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the purchase of water, water systems and land.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PaymentsToAcquireWaterWaterSystemsAndLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PaymentsToContingentLiabilityHolders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow for the payment of export water contingent liability holders during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PaymentsToContingentLiabilityHolders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513438&amp;loc=d3e33268-110906<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109237563&amp;loc=d3e33749-111570<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInContractWithCustomerLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInContractWithCustomerLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to taxing authorities for taxes that are based on the reporting entity's earnings, net of amounts receivable from taxing authorities for refunds of overpayments or recoveries of income taxes, and in deferred and other tax liabilities and assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount owed to the reporting entity in the form of loans and obligations (generally evidenced by promissory notes) made to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInNotesReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in operating assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestIncomeRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest income earned from interest-bearing assets owed to the entity by related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow from the acquisition of or improvements to long-lived, physical assets used to produce goods and services and not intended for resale, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales, maturities, prepayments, calls and collections of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from exercise of option under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=SL79508275-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense (reversal of expense) for expected credit loss on accounts receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121599337&amp;loc=SL82919249-210447<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowElementsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowElementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331228967976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>PRESENTATION OF INTERIM INFORMATION [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock', window );">PRESENTATION OF INTERIM INFORMATION</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 1 &#8211; PRESENTATION OF INTERIM INFORMATION</div><div><br /></div><div style="text-align: justify;">The May 31, 2020 consolidated balance sheet, the consolidated statements of operations and comprehensive income for the three and nine months ended May 31, 2020 and 2019, the consolidated statements of shareholders&#8217; equity for the three and nine months ended May 31, 2020 and 2019, and the consolidated statements of cash flows for the nine months ended May 31, 2020 and 2019 have been prepared by Pure Cycle Corporation (the &#8220;Company&#8221;) and have not been audited. The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows at May 31, 2020, and for all periods presented.</div><div><br /></div><div style="text-align: justify;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) have been condensed or omitted. It is suggested that the accompanying consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended August 31, 2019 (the &#8220;2019 Annual Report&#8221;) filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on November 12, 2019. The results of operations for interim periods presented are not necessarily indicative of the operating results expected for the full fiscal year. The August 31, 2019 balance sheet was derived from the Company&#8217;s audited consolidated financial statements.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Coronavirus Aid, Relief, and Economic Security Act (&#8220;CARES Act&#8221;)</u></div><div><br /></div><div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">On March 27, 2020, Congress enacted the CARES Act to provide certain relief as a result of </font><font style="background-color: rgb(255, 255, 255); color: rgb(33, 37, 41);">the recent outbreak of a novel strain of the coronavirus (&#8220;COVID-19&#8221;)</font><font style="color: rgb(0, 0, 0);"> pandemic. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property, and the creation of certain refundable employee retention credits. We are currently evaluating the impact on our financial statements and have not yet quantified what material impacts to the financial statements, if any, that may result from the CARES Act.</font></div><div><br /></div><div style="text-align: justify;">On April 17, 2020, the Company entered into a $390,000 note payable with Central Bank &amp; Trust part of Farmers &amp; Stockmens Bank pursuant to the Paycheck Protection Program (&#8220;PPP Loan&#8221;) under the CARES Act. On May 13, 2020, the Company returned the entire outstanding balance of $390,278, inclusive of interest.&#160; The interest was waived by Central Bank &amp; Trust.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Reclassifications</u></div><div><br /></div><div style="text-align: justify; color: #000000;">Certain reclassifications have been made to the 2019 financial statements to conform to the consolidated 2020 financial statement presentation. These reclassifications had no effect on net earnings or cash flows previously reported.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Use of Estimates</u></div><div><br /></div><div style="text-align: justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used to account for certain items such as revenue recognition, reimbursable costs and expenses, costs of revenue for lot sales, share-based compensation, deferred tax asset valuation, depreciation and the recoverability of long lived assets. <font style="background-color: #FFFFFF; color: #212529;">Actual results and outcomes may differ from management&#8217;s estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to COVID-19.</font></div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Cash and Cash Equivalents</u></div><div><br /></div><div style="text-align: justify;">Cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less. The Company&#8217;s cash equivalents are comprised entirely of money market funds maintained at a reputable financial institution and U.S. Treasury debt securities. At various times during the three months ended May 31, 2020, the Company&#8217;s main operating account exceeded federally insured limits. To date, the Company has not suffered a loss due to such excess balance.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Land Development Inventories</u></div><div><br /></div><div style="text-align: justify;">Land development inventories primarily include land held for development and sale, which are stated at cost. The majority of the costs included in the Land development inventories line relate to costs to acquire and develop the Company&#8217;s Sky Ranch development. Sky Ranch is a 930-acre master planned development located in Arapahoe County, Colorado, and the Land development inventories account reflects costs incurred to construct infrastructure on the lots at Sky Ranch that meet the Company&#8217;s capitalization criteria for improvements. Costs are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company accumulates land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales over time based on inputs of costs incurred to date to total estimated costs to complete.</div><div><br /></div><div style="text-align: justify;">The Company values land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent sales prices for comparable lots. If a sales price is not available, the Company will consider several factors, including, but not limited to, current market conditions, and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its estimated net realizable value.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Contract Asset</u></div><div><br /></div><div style="text-align: justify;"><font style="color: #000000;">Contract receivables are recorded at the invoiced amount and do not bear interest. Credit is extended based on the evaluation of a customer&#8217;s financial condition and collateral is not required. </font>Contract assets<font style="color: #000000;"> reflect revenue which has been earned but not yet invoiced. The contract assets are transferred to receivables when the Company has the right to bill such amounts and they are invoiced.</font></div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Investments</u></div><div><br /></div><div style="text-align: justify;">Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determinations each reporting period.</div><div><br /></div><div style="text-align: justify;">Securities that the Company does not have the positive intent or ability to hold to maturity, including certificate of deposits and U.S. Treasury debt securities, are reported at their fair value. Changes in value of such securities are recorded as a component of <font style="font-style: italic;">Accumulated other comprehensive income (loss).</font> The cost of securities sold is based on the specific identification method. As of May 31, 2020, the Company held no securities.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Concentration of Credit Risk and Fair Value</u></div><div><br /></div><div style="text-align: justify;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and investments. From time to time, the Company places its cash in money market instruments, certificates of deposit and U.S. Treasury obligations. To date, the Company has not experienced significant losses on any of these investments.</div><div><br /></div><div style="text-align: justify;">The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the measurement falls.&#160; The estimated fair value measurements in Note 2 &#8211; <font style="font-style: italic;">Fair Value Measurements</font> are based on Level 2 of the fair value hierarchy.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Cash and Cash Equivalents &#8211;</font> The Company&#8217;s cash and cash equivalents are reported using the values as reported by the financial institution where the funds are held. These securities primarily include balances in the Company&#8217;s operating and savings accounts. The carrying amount of cash and cash equivalents approximate fair value.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Trade Accounts Receivable &#8211;</font> The Company records accounts receivable net of allowances for uncollectible accounts and the carrying value approximate fair value due to the short-term nature of the receivables.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Investments &#8211; </font>The carrying amounts of investments are recorded at fair value. Investments are described further in Note 2 &#8211; <font style="font-style: italic;">Fair Value Measurements.</font></div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Accounts Payable &#8211;</font> The carrying amounts of accounts payable approximate fair value due to the relatively short period to maturity for these instruments.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Long-Term Financial Liabilities</font><font style="font-weight: bold;"> &#8211;</font> The Comprehensive Amendment Agreement No. 1 (the &#8220;CAA&#8221;) is comprised of a recorded balance at fair value and an off-balance sheet or &#8220;contingent&#8221; obligation associated with the Company&#8217;s acquisition of its &#8220;Rangeview Water Supply&#8221; (as defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual Report). The amount payable is a fixed amount but is repayable only upon the sale of &#8220;Export Water&#8221; (as defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual Report). Because of the uncertainty of the sale of Export Water, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. The CAA is described further in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease &#8211; Participating Interests in Export Water Supply</font>.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Notes Receivable &#8211; Related Parties</font><font style="font-weight: bold;"> &#8211; </font>The carrying amounts of the <font style="font-style: italic;">Notes receivable &#8211; related parties </font>(including with the Rangeview Metropolitan District (the &#8220;Rangeview District&#8221;) and the Sky Ranch Community Authority Board (the &#8220;CAB&#8221;)) approximate their fair value because the interest rates on the notes approximate market rates.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Off-Balance Sheet Instruments &#8211; </font>The Company&#8217;s off-balance sheet instruments consist entirely of the contingent portion of the CAA. Because repayment of this portion of the CAA is contingent on the sale of Export Water, which is not reasonably estimable, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. See further discussion in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease &#8211; Participating Interests in Export Water Supply</font>.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Revenue Recognition</u></div><div><br /></div><div style="text-align: justify;">The Company disaggregates revenue by major product line as reported on the consolidated statements of operations and comprehensive income.</div><div><br /></div><div style="text-align: justify;">The Company generates revenues primarily through two lines of business: (i) through the provision of wholesale water and wastewater services and (ii) through the sale of developed land predominately in the form of residential lots, both of which are described in greater detail below..</div><div><br /></div><div style="font-style: italic; font-weight: bold;">Wholesale Water and Wastewater Service Fees</div><div><br /></div><div style="text-align: justify;">The Company generates revenue through its wholesale water and wastewater services predominantly from three sources, which are described in detail below:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(i)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Monthly water usage and wastewater treatment fees</u>&#160;<font style="font-weight: bold; font-style: italic;">&#8211;</font> The Company provides water and wastewater services to customers, for which the customers are charged fees monthly. Water usage fees are assessed to customers based on actual metered usage each month plus a base monthly service fee assessed per single family equivalent (&#8220;SFE&#8221;) unit served. One SFE is a customer, whether residential, commercial or industrial, that imparts a demand on the Company&#8217;s water or wastewater systems similar to the demand of a family of four persons living in a single-family house on a standard-sized lot. Water usage pricing is based on a tiered pricing structure. The Company recognizes wholesale water usage revenues at a point in time upon delivering water to its customers or its governmental customers&#8217; end-use customers, as applicable. Revenues recognized by the Company from the sale of &#8220;Export Water&#8221; and other portions of its &#8220;Rangeview Water Supply&#8221; off the &#8220;Lowry Range&#8221; are shown gross of royalties to the State of Colorado Board of Land Commissioners (the &#8220;Land Board&#8221;). The Company is the primary distributor of the Export Water and sets pricing for the sale of Export Water. Revenues recognized by the Company from the sale of water on the Lowry Range are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District. For water sales on the Lowry Range, the Rangeview District is directly selling the water and deemed the primary distributor of the water. The Rangeview District sets the price for the water sales on the Lowry Range. See further description of Export Water, the Lowry Range, and the Rangeview Water Supply in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> under &#8220;Rangeview Water Supply and Water System&#8221; in Part II, Item 8 of the 2019 Annual Report.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">In addition, the Company provides water for hydraulic fracturing to industrial customers in the oil and gas industry that are located in and adjacent to its service areas (referred to as &#8220;O&amp;G operations&#8221;). O&amp;G operations revenues are recognized at a point in time upon delivering water to a customer, unless other special arrangements are made.</div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company delivered 12.2 million and 96.9 million gallons of water to customers during the three months ended May 31, 2020 and May 31, 2019, respectively, of which 0% and 93% was used for oil and gas exploration. <font style="background-color: #FFFFFF; color: #000000;">The Company delivered 32.4 million and 232.3 million gallons of water to customers during the nine months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">May 31, 2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively, of which 3% and 85% was used for oil and gas exploration.</font></div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company recognizes wastewater treatment revenues monthly based on a flat monthly fee and actual usage charges. The monthly wastewater treatment fees are shown net of amounts retained by the Rangeview District. Costs of delivering water and providing wastewater services to customers are recognized as incurred.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(ii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Water and wastewater tap fees/Special Facility funding</u> &#8211; The Company recognizes water and wastewater tap fees as revenue at the time the Company grants a right for the customer to tap into the water or wastewater service line to obtain service. Water tap fees recognized are based on the amounts billed by the Rangeview District and any amounts paid to third parties pursuant to the CAA as further described in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease</font> &#8211; <font style="font-style: italic;">Participating Interests</font>&#160;<font style="font-style: italic;">in Export Water Supply</font> below. The Company recognized $852,800 and $929,400 of water tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $3.2 million and $1.5 million of water tap revenues during the nine months ended May 31, 2020 and 2019, respectively. The Company recognized $152,100 and $153,800 of wastewater tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $602,900 and $256,300 of wastewater tap fee revenues during the nine months ended May 31, 2020 and 2019, respectively.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company recognizes construction fees, including fees received to construct &#8220;Special Facilities&#8221; (as defined <font style="background-color: #FFFFFF; color: #000000;">under &#8220;</font><font style="background-color: #FFFFFF; font-style: italic; color: #000000;">Critical Accounting Policies &#8211; Revenue Recognition &#8211; Wholesale Water and Wastewater Fees</font><font style="background-color: #FFFFFF; color: #000000;">&#8221; </font>below), over time as the construction is completed because the customer is generally able to use the property improvement to enhance the value of other assets during the construction period. Special Facilities are facilities that enable water to be delivered to a single customer and are not otherwise classified as a typical wholesale facility or retail facility. Temporary infrastructure required prior to construction of permanent water and wastewater systems or transmission pipelines to transfer water from one location to another are examples of Special Facilities. Management has determined that Special Facilities are separate and distinct performance obligations because these projects are contracted to construct a specific water and wastewater system or transmission pipeline and typically do not include multiple performance obligations in a contract with a customer. No Special Facilities revenue has been recognized during the three or nine months ended May 31, 2020 or 2019.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top;">(iii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Consulting fees</u> &#8211; The Company recognizes consulting fees as revenues typically on a monthly basis. The Company earns these fees from municipalities and area water providers along the I-70 corridor, for which the Company provides contract operations services over time as services are consumed. Consulting fees are recognized monthly based on a flat monthly fee plus charges for additional work performed, if applicable. The Company recognized $13,800 and $37,900 of consulting fees during the three months ended May 31, 2020 and 2019, respectively, and $104,000 and $148,200 of consulting fees during the nine months ended May 31, 2020 and 2019, respectively.</div></td></tr></table><div><br /></div><div style="font-style: italic; font-weight: bold;">Land Development Activities</div><div><br /></div><div style="text-align: justify;">The Company generates revenues through the sale of finished lots at its Sky Ranch development primarily from four sources of revenues, which are described in detail below:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(i)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Sale of finished lots</u> &#8211; The Company acquired approximately 930 acres of land zoned as a Master Planned Community known as Sky Ranch along the I-70 corridor east of Denver, Colorado. The Company has entered into purchase and sale agreements with three separate home builders pursuant to which the Company agreed to sell, and each builder agreed to purchase, residential lots at Sky Ranch. The Company began construction of lots in March 2018 and segments its reporting of the activity relating to the costs and revenues from the construction and sale of lots at Sky Ranch.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company sells lots at Sky Ranch pursuant to distinct agreements with each home builder. These agreements follow one of two formats. One format is the sale of a finished lot, whereby the purchaser pays for a ready-to-build finished lot and the sales price is paid in a lump-sum upon completion of the finished lot that is permit ready. The Company recognizes revenues at the point in time of the closing of the sale of a finished lot in which control transfers to the builder as the transaction cycle is complete and the Company has no further obligations for the lot. During the three months ended May 31, 2020, the Company received no payments and recognized no revenue from its agreement for the sale of ready-to-build finished lots. During the nine months ended May 31, 2020, the Company received payment and recognized revenue of $2,836,700 from one home builder in exchange for the delivery of 41 finished lots. <font style="background-color: #FFFFFF; color: #000000;">During the three months ended May 31, 2019, the Company received payment and recognized revenue of $1,770,000 from one home builder in exchange for the delivery of 25 finished lots. During the nine months ended May 31, 2019, the Company received payment and recognized revenue of $2,070,000 from one home builder in exchange for the delivery of 29 finished lots.</font></div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The second format is the sale of finished lots pursuant to a lot development agreement with builders, whereby the Company receives payments in stages that include (i) payment upon the delivery of platted lots (which requires the Company to deliver deeded title to individual lots), (ii) a second payment upon the completion of certain infrastructure milestones, and (iii) final payment upon the delivery of the finished lot. Ownership and control of the platted lots pass to the builders once the Company closes the sale of the platted lots. Because the builder (i.e., the customer) takes control of the lot at the first closing and subsequent improvements made by the Company improve the builder&#8217;s lot as construction progresses, the Company accounts for revenue over time with progress measured based upon costs incurred to date compared to total expected costs.&#160; Any revenue in excess of amounts entitled to be billed is reflected on the balance sheet as a contract asset, and amounts received in excess of revenue recognized are recorded as deferred revenue. As of May 31, 2020, the Company had received cumulative payments of approximately $21 million under development agreements relating to the sale of 293 lots from two home builders, of which approximately $18.6 million of revenue was recognized over time based on the costs incurred to date compared to total expected costs for full completion of the 293 lots. During the three months ended May 31, 2020 and 2019, the Company recognized $696,200 and $938,100 of lot sales over time, respectively. For the nine months ended May 31, 2020 and 2019, the Company recognized $8,666,800 and $3,965,700 of lot sales over time, respectively. The Company had deferred revenue related to lot sales of $2,526,200 as of May 31, 2020. The Company does not have any material significant payment terms as all payments are expected to be received within 12 months after the delivery of each platted lot. The Company adopted the practical expedient for financing components and does not need to account for a financing component of these lot sales as the delivery of lot sales is expected to occur within one year or less.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(ii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Reimbursable Costs for Public Improvements</u> &#8211; The CAB is required to construct certain public improvements, such as water distribution systems, sewer collection systems, storm water systems, drainage improvements, roads, curbs, sidewalks, landscaping and parks, the costs of which may qualify as reimbursable costs. Pursuant to its agreements with the CAB (see Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>), the Company is obligated to finance this infrastructure. These public improvements are constructed pursuant to design standards specified by the Sky Ranch Districts and/or the CAB, and, after inspection and acceptance, are turned over to the applicable governmental entity to operate and maintain. As these public improvements are owned and operated on behalf of a governmental entity, they may qualify for reimbursement.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">Pursuant to the agreements with the CAB, the CAB is not required to make payments to the Company for any advances made by the Company or expenses incurred related to construction of public improvements unless and until the CAB and/or the Sky Ranch Districts issue bonds in an amount sufficient to reimburse the Company for all or a portion of the advances made and expenses incurred. Because the timing of the issuance and approval of any bonds is subject to considerable uncertainty, any potential reimbursable costs for the construction of public improvements, including construction support activities and project management fees, are initially capitalized in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories. </font>If the bonds have not been approved and issued prior to the sale of the lots serviced by the public improvements, the costs are expensed through <font style="font-style: italic;">Land development construction costs</font> when the lots are sold consistent with other construction related costs. If bonds ultimately are issued, upon receipt of reimbursements by the Company, the Company records the reimbursements received as <font style="font-style: italic;">Other income </font>to the extent that costs have previously been expensed and reduces <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> by any remaining reimbursables received. The Company submits specific costs for reimbursement to the CAB.<font style="font-style: italic;">&#160;</font>If reimbursable costs received exceed actual expenses incurred by the Company for the cost of the public improvements, they are recorded as <font style="font-style: italic;">other income </font>as received.</div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">All amounts owed under the &#8220;2018 FFAA&#8221; (as defined in Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>) bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest income is not recognized on the amounts owed by the CAB until the bonds are issued. To date, the Company has deferred the recognition of $1,052,900 of interest income on advances made to the CAB.</div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">On November 19, 2019, the CAB sold tax-exempt, fixed rate senior bonds in the aggregate principal amount of $11,435,000 and tax-exempt, fixed-rate subordinate bonds in the aggregate principal amount of $1,765,000 (collectively, the &#8220;Bonds&#8221;). Upon the issuance of the Bonds, the Company received $10.5 million as partial reimbursement for advances the Company made to the CAB pursuant to the 2018 FFAA to fund the construction of public improvements to the Sky Ranch property. Of the $10.5 million received by the Company, $6.3 million was recognized as <font style="font-style: italic;">Income from reimbursement of construction costs (related party)</font> in other income and the remaining $4.2 million partially reduced the remaining capitalized costs in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>. As a result of the reimbursed costs, the margin from land development revenues is expected to increase to approximately 27%.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top;">(iii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Project management services</u> &#8211; On May 2, 2018, the Company entered into two Service Agreements for Project Management Services (the &#8220;Project Management Agreements&#8221;) with the CAB. Pursuant to the Project Management Agreements, the Company acts as the project manager and provides any and all services required to deliver the CAB-eligible improvements, including but not limited to CAB compliance; planning design and approvals; project administration; contractor agreements; and construction management and administration. The Company must submit to the CAB a monthly invoice, in a form acceptable to the CAB, detailing all project management activities during the period. The Company is responsible for all expenses it incurs in the performance of the Project Management Agreements and is not entitled to any reimbursement or compensation except as set forth in the Project Management Agreements, unless otherwise approved in advance by the CAB in writing. The CAB is subject to annual budget and appropriation procedures and does not intend to create a multiple-fiscal year direct or indirect debt or other financial obligation. The Company receives a project management fee of five percent (5%) of actual construction costs of CAB-eligible improvements. The project management fee qualifies as a reimbursable cost to the Company. The project management fee is based only on the actual costs of the improvements; thus, items such as fees, permits, review fees, consultant or other soft costs, and land acquisition or any other costs that are not directly related to the cost of construction of CAB-eligible improvements are not included in the calculation of the project management fee. Soft costs and other costs that are not directly related to the construction of CAB-eligible improvements are included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> and accounted for in the same manner as construction support activities as described below. Per the Project Management Agreements, no payment is required by the CAB with respect to project management fees unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables. Due to this contingency, the project management fees are being accrued to revenue with a corresponding allowance until the point in time when bonds are issued by the Sky Ranch Districts and/or the CAB and the CAB reimburses the Company for the public improvements. At that point, the portion of the project management fees repaid will be recognized as revenue. To date, the Company has accrued $1,371,600<font style="font-weight: bold;">&#160;</font>in project management services to the CAB.</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"><tr style="vertical-align: top;"><td style="width: 18pt;">&#160;</td><td style="vertical-align: top; width: 18pt;"><div style="text-align: justify;">(iv)</div></td><td style="align: left; vertical-align: top; width: auto;"><div style="text-align: justify;"><u>Construction support activities</u> &#8211; The Company performs certain construction activities at Sky Ranch. The activities performed include construction and maintenance of the grading erosion and sediment control best management practices and other construction-related services. These activities are invoiced upon completion and are included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> and subsequently expensed through <font style="font-style: italic;">Land development construction costs</font> unless or until bonds are issued by the Sky Ranch Districts (as defined in Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>) and/or the CAB and the CAB reimburses the Company for public improvements. Refer to section (ii) <font style="font-style: italic;">Reimbursable Costs for Public Improvements</font> for details on repayment of reimbursable costs. To date, the Company has invoiced the CAB $581,100 for construction support activities, which amount is included in <font style="font-style: italic;">Land development inventories</font>.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">Unpaid reimbursable costs the Company believes are recoverable from the CAB pursuant to the 2018 FFAA, are recorded to a Note Receivable from the CAB. Each reporting period, the Company performs an analysis on the collectability of the receivable from the CAB and the recoverability of the outstanding reimbursable costs to determine if the amounts should be expensed. The following table summarizes all reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">As of May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Costs incurred to date</div></td><td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Payments repaid by</div><div>CAB</div></td><td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Net costs incurred to date</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Public Improvements</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>25,431,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>10,505,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>14,926,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accrued interest</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,052,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,052,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Project management services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,371,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,371,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Construction support activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>581,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>581,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Total reimbursable costs</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>28,437,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>10,505,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>17,932,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company expects to incur an additional $3.5 million through the end of the calendar year 2020 for construction costs related to public improvements to complete its initial 506 lots and expects to be reimbursed an additional $21.6 million. Pursuant to the Company's agreements with the CAB, no payment is required by the CAB with respect to reimbursable costs unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables.</div><div><br /></div><div style="text-align: justify;">The Company evaluated disaggregation of revenue and has determined that no additional disaggregation of revenue is necessary.</div><div><br /></div><div style="text-align: justify;">Contract asset by segment is as follows:</div><div><br /></div><div style="text-align: justify;">The Company did not have a contract asset at May 31, 2020 and 2019 or August 31, 2019.</div><div><br /></div><div style="text-align: justify;">Changes in contract asset were as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of land development revenue contract asset</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,020,146</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development contract asset invoiced</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(1,020,146</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">Deferred revenue by segment is as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,526,155</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,991,535</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Oil and gas leases and water sales payment</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>2,467,649</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>1,067,348</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>4,993,804</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The current portion of deferred revenue for oil and gas leases and water sales payment as of May 31, 2020 and August 31, 2019,&#160; is $2,254,830 and $706,464, respectively. There were no water segment deferred revenues as of May 31, 2019 and August 31, 2019.</div><div><br /></div><div style="text-align: justify;">Changes in deferred revenue were as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>477,161</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Deferral of revenue</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>15,949,872</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>24,998,964</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of unearned revenue</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(16,014,951</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(20,417,242</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,993,804</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The recognition of unearned revenue was $11,503,523 and $11,955,989 from land development activities and $4,511,428 and $8,461,253 from oil and gas leases and water sales payments for the nine months ended May 31, 2020 and August 31, 2019, respectively.</div><div><br /></div><div style="text-align: justify;">Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (&#8220;contracted not recognized revenue&#8221;), which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. At May 31, 2020, the Company had outstanding open contracts for $12,957,000, which primarily relate to the 115 lots of the initial 506 lots at Sky Ranch that remain unsold. The Company expects to recognize approximately 98% of such revenue over the next 12 months.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Land Development Inventories</u></div><div><br /></div><div style="text-align: justify;">Land development inventories primarily include real estate held for development and sale, which the Company has begun developing and are stated at cost. Capitalized lot development costs at Sky Ranch are costs incurred to construct required infrastructure to produce finished lots at Sky Ranch that meet the Company&#8217;s capitalization criteria for lot improvements and are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company uses the specific identification method for purposes of accumulating land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales when a lot is completed and sold on a lot-by-lot basis. Costs included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> include common area costs that the Company funded through the CAB. The Company expects that such costs will be reimbursable by the CAB. The Company records future reimbursements as a reduction of reimbursable capitalized costs remaining in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> once the CAB has the ability to reimburse the costs (i.e., once the Sky Ranch Districts and/or the CAB has issued bonds).</div><div><br /></div><div style="text-align: justify;">The Company measures land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent comparable sales prices. If recent sales prices are not available, the Company will consider several factors, including, but not limited to, current market conditions, nearby recent sales transactions and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its net realizable value.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Royalty and Other Obligations</u></div><div><br /></div><div style="text-align: justify;">Revenues from the sale of Export Water are shown gross of royalties payable to the Land Board. Revenues from the sale of water on the Lowry Range are invoiced directly by the Rangeview District, and a percentage of such collections are then paid to the Company by the Rangeview District. Water revenue from such sales are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Oil and Gas Lease Payments</u></div><div><br /></div><div style="text-align: justify;">As described in Note 2 &#8211; <font style="font-style: italic;">Summary of Significant Accounting Policies</font> in Part II, Item 8 of the 2019 Annual Report, the Company entered into a Paid-Up Oil and Gas Lease (the &#8220;Sky Ranch O&amp;G Lease&#8221;) and a Surface Use and Damage Agreement that were subsequently purchased by a wholly owned subsidiary of ConocoPhillips Company and recently acquired by Crestone Peak Resources. Six wells have been drilled within the Company&#8217;s mineral interest and placed into service (four new wells beginning in fiscal 2020) and are producing oil and gas and accruing royalties to the Company. During the three months ended May 31, 2020 and 2019, the Company received $74,100 and $37,300 net of taxes, respectively, in royalties attributable to these wells. During the nine months ended May 31, 2020 and 2019, the Company received $612,700 and $113,100 net of taxes, respectively, in royalties attributable to these wells. The Company classifies income from oil and gas lease and royalty payments as <font style="font-style: italic;">Other income</font> in the statement of operations and comprehensive income as the Company does not consider these arrangements to be a primary operating business activity.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Deferred Revenue</u></div><div><br /></div><div style="text-align: justify;">In July 2019, the Company received an up-front payment of $573,700 from an Agreement on Locations of Oil and Gas Operations&#160; (the &#8220;OGOA&#8221;) for a pad site covering approximately 16 acres with the operator of the Sky Ranch O&amp;G Lease, which will be recognized as income on a straight-line basis over three years. If after three years the operator has not spud at least one well on the OGOA, the operator may extend the right to the OGOA one additional year by paying the Company $75,000. The operator may only extend the OGOA for two additional years for a total of five years. The Company recognizes the up-front payments on a straight-line basis over the terms of the respective agreements. During the three and nine months ended May 31, 2020, the Company recognized $47,800 and $143,400 of income, respectively, related to the up-front payments received pursuant to the OGOA. No revenue was recognized for the three or nine months ended May 31, 2019 related to the up-front payments received pursuant to the OGOA. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $404,000 and $547,500, respectively, related to the OGOA.</div><div><br /></div><div style="text-align: justify;">In September 2017, the Company entered into a Paid-Up Oil and Gas Lease with Bison Oil and Gas, LLP (the &#8220;Bison Lease&#8221;). Pursuant to the Bison Lease, the Company received an up-front payment of $167,200 in October 2017, which will be recognized as income on a straight-line basis over the three year term of the lease. The Company recognized lease income of $13,900 during the three months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. The Company recognized lease income of $41,800 during the nine months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $18,600 and $60,400, respectively, related to the Bison Lease that will be recognized as income ratably through September 2020.</div><div><br /></div><div style="text-align: justify;">As of May 31, 2020, the Company has also billed and received payments of $2.0 million from one of its industrial water customers to reserve first priority water for O&amp;G operations for defined periods through December 2020. As the customer uses the forecasted volumes each month, the Company will recognize revenue based on the volumes used. The customer may take such volumes up to one year from invoice date. If the customer does not take the forecasted volumes in the anticipated period, such volumes are forfeited by the customer. At that time, any payments received for unused volumes will be recognized as revenue. As of May 31, 2020, the Company had deferred revenue of $2.0 million as a result of these advanced water purchase payments.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Long-Lived Assets</u></div><div><br /></div><div style="text-align: justify;">The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the eventual use of the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets</u></div><div><br /></div><div style="text-align: justify;">Costs to construct water and wastewater systems that meet the Company&#8217;s capitalization criteria are capitalized as incurred, including any interest, and depreciated on a straight-line basis over their estimated useful lives of up to 30 years. The Company capitalizes design and construction costs related to construction activities, and it capitalizes certain legal, engineering and permitting costs relating to the adjudication and improvement of its water assets. The Company depletes its groundwater assets that are being utilized on the basis of units produced (i.e., thousands of gallons sold) divided by the total volume of water adjudicated in the water decrees.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Share-Based Compensation</u></div><div><br /></div><div style="text-align: justify;">The Company maintains an equity incentive plan for the benefit of its employees and non-employee directors. The Company records share-based compensation costs as expense over the applicable vesting period of the stock award using the straight-line method. The compensation costs to be expensed are measured at the grant date based on the fair value of the award. The Company has adopted the alternative transition method for calculating the tax effects of share-based compensation, which allows for a simplified method of calculating the tax effects of employee share-based compensation. The impact on the income tax provision for the granting and exercise of stock options during the three and nine months ended May 31, 2020 was a deferred tax benefit of $18,700 and a deferred tax benefit of $39,000, respectively. Because the Company had a full valuation allowance on its deferred tax assets as of November 30, 2018, there was no effect on the tax provision during the period. The Company recognized $81,900 of share-based compensation expense and $96,100 of share-based compensation expense during the three months ended May 31, 2020 and 2019, respectively. The Company recognized $435,100 of share-based compensation expense, which included unrestricted stock grants, and $257,800 of share-based compensation expense during the nine months ended May 31, 2020 and 2019, respectively.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Income Taxes</u></div><div><br /></div><div style="text-align: justify;">The Company uses a &#8220;more-likely-than-not&#8221; threshold for the recognition and de-recognition of tax positions, including any potential interest and penalties relating to tax positions taken by the Company. The Company did not have any significant unrecognized tax benefits as of May 31, 2020.</div><div><br /></div><div style="text-align: justify;">As a result of H.R.1, commonly known as the Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;), signed into law on December 22, 2017, the Company has a $282,000 alternative minimum tax (&#8220;AMT&#8221;) deferred tax asset for which it did not have a valuation allowance as of May 31, 2020 and August 31, 2019.&#160; The Company expects to receive the AMT as a refund in future years.&#160; Most, if not all, of this credit will be refundable with the filing of the 2018 (fiscal year ended 2019) through 2019 (fiscal year ending 2020) tax returns, subject to limitations of Internal Revenue Code Section 382 (arises with ownership changes) and the sequestration limitation of the Balanced Budget Act of 1997.</div><div><br /></div><div style="text-align: justify; color: #000000;">The Company&#8217;s effective tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020, respectively. The effective tax rate was 0% for the three and nine months ended May 31, 2019 due to the valuation allowance the Company maintained on its net deferred tax asset.</div><div><br /></div><div style="text-align: justify;">The Company records deferred tax assets and liabilities for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying consolidated balance sheets, as well as operating loss and tax credit carry-forwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled.</div><div><br /></div><div style="text-align: justify; color: #000000;">The Company maintained a valuation allowance on the net deferred tax asset other than AMT credits as of May 31, 2019, as the Company had determined it was more likely than not that the Company would not realize its deferred tax assets as of May 31, 2019. Such assets primarily consisted of operating loss carryforwards. The Company assessed the realizability of its deferred tax asset using all available evidence. In particular, the Company considered both historical results and projections of profitability for the reasonably foreseeable future periods. The Company is required to reassess its conclusions regarding the realization of its deferred tax assets at each financial reporting date. As a result of the evaluation, the Company concluded that all of the valuation allowance was no longer necessary as of August 31, 2019 and released the valuation allowance.</div><div><br /></div><div style="text-align: justify;">The Company files income tax returns with the Internal Revenue Service and the State of Colorado. The tax years that remain subject to examination are fiscal year 2015 through fiscal year 2019.</div><div><br /></div><div style="text-align: justify;">The Company&#8217;s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. At May 31, 2020, the Company did not have any accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense recognized during the nine months ended May 31, 2020 and 2019.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Earnings per Common Share</u></div><div><br /></div><div style="text-align: justify;">Earnings per common share is computed by dividing net income by the weighted average number of shares outstanding during each period presented. For the three months ended May 31, 2020 and 2019, respectively, options to acquire common stock of 200,056 and 201,644 common share equivalents were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options of 229,142 and 206,934 common share equivalents as of the nine months ended May 31, 2020 and 2019, respectively, were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options aggregating 180,000 and 0 common share equivalents as of the three and nine months ended May 31, 2020, respectively, have been excluded from the calculation of income per common share as their effect is anti-dilutive. Common stock options aggregating 50,000 common share equivalents as of the three and nine months ended May 31, 2019, have been excluded from the calculation of income per common share as their effect is anti-dilutive.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Recently Issued Accounting Pronouncements</u></div><div><br /></div><div style="text-align: justify;">The Company continually assesses new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company&#8217;s financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and to ensure that there are proper controls in place to ascertain that the Company&#8217;s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:</div><div><br /></div><div style="text-align: justify;">In February 2016, the Financial Accounting Standards Board (the &#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2016-02, <font style="font-style: italic;">Leases (Topic 842). </font>ASU 2016-02<font style="font-style: italic;">&#160;</font>provides guidance on the recognition, measurement, presentation and disclosure of leases. The new standard supersedes the present GAAP standard on leases and requires substantially all leases to be reported on the balance sheet as right-of-use assets and lease obligations. This standard is effective for fiscal years beginning after December 15, 2018. The Company adopted the standard effective September 1, 2019, and recorded a right-of-use asset of approximately $258,900 and a lease obligation liability of approximately $252,300.</div><div><br /></div><div style="text-align: justify;">In June 2016, the FASB issued ASU No. 2016-13, <font style="font-style: italic;">Financial Instruments &#8211; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments </font> (&#8220;ASU 2016-13&#8221;). Among other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 was set to be effective for public companies on January 1, 2020; however, the FASB delayed the effective date to January 1, 2023 for smaller reporting companies. The Company <font style="color: #212529;">continues to monitor economic implications of the COVID-19 pandemic; however, based on current market conditions, we do not expect the impact of ASU 2016-13 to be material upon adoption.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows.  Describes procedure if disclosures are provided in more than one note to the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -URI http://asc.fasb.org/topic&amp;trid=2122149<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -URI http://asc.fasb.org/topic&amp;trid=2197479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI http://asc.fasb.org/topic&amp;trid=2122369<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI http://asc.fasb.org/topic&amp;trid=2134479<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331228957048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>FAIR VALUE MEASUREMENTS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">FAIR VALUE MEASUREMENTS</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 2 &#8211; FAIR VALUE MEASUREMENTS</div><div><br /></div><div style="text-align: justify;">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the measurement falls.</div><div><br /></div><div style="text-align: justify;">Level 1 &#8212; Valuations for assets and liabilities traded in active exchange markets, such as the NASDAQ Stock Market. The Company had no Level 1 assets or liabilities as of May 31, 2020 or August 31, 2019.</div><div><br /></div><div style="text-align: justify;">Level 2 &#8212; Valuations for assets and liabilities obtained from readily available pricing sources via independent providers for market transactions involving similar assets or liabilities. The Company had zero and one Level 2 assets as of May 31, 2020 and August 31, 2019, respectively, which consisted of a short-term certificate of deposit.</div><div><br /></div><div style="text-align: justify;">Level 3 &#8212; Valuations for assets and liabilities that are derived from other valuation methodologies, including discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker-traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The Company had one Level 3 liability, the contingent portion of the CAA, as of May 31, 2020 and August 31, 2019. The Company has determined that the contingent portion of the CAA does not have a determinable fair value (see Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease)</font>.</div><div><br /></div><div style="text-align: justify;">The Company maintains policies and procedures to value instruments using what management believes to be the best and most relevant data available.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Level 2 Asset &#8211; Investments. </font>The Company&#8217;s investment securities are the Company&#8217;s only financial assets measured at fair value on a recurring basis. The fair value of investment securities is based on the values reported by the financial institutions where the funds are held. Investment securities include certificates of deposit and U.S. Treasury debt securities.</div><div><br /></div><div style="text-align: justify;">The Company&#8217;s non-financial assets measured at fair value on a non-recurring basis when assessing recoverability consist entirely of its investments in water and water systems and other long-lived assets. See Note 3 &#8211; <font style="font-style: italic;">Water and Land Assets </font>below.</div><div><br /></div><div style="text-align: justify;">There were no assets or liabilities measured at fair value on a recurring basis as of May 31, 2020.</div><div><br /></div><div style="text-align: justify;">The following table provides information on the assets and liabilities measured at fair value on a recurring basis as of August 31, 2019:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="11" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Fair Value Measurement Using:</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><div style="text-align: center; font-weight: bold;"><br /></div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Fair Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160; <div style="text-align: center; font-weight: bold;">Cost /</div><div style="text-align: center; font-weight: bold;">Other Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Quoted Prices in</div><div style="text-align: center; font-weight: bold;">Active Markets</div><div style="text-align: center; font-weight: bold;">for Identical</div><div style="text-align: center; font-weight: bold;">Assets</div><div style="text-align: center; font-weight: bold;">(Level 1)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Significant</div><div style="text-align: center; font-weight: bold;">Other</div><div style="text-align: center; font-weight: bold;">Observable Inputs</div><div style="text-align: center; font-weight: bold;">(Level 2)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160; <div style="text-align: center; font-weight: bold;">Significant</div><div style="text-align: center; font-weight: bold;">Unobservable</div><div style="text-align: center; font-weight: bold;">Inputs</div><div style="text-align: center; font-weight: bold;">(Level 3)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160; <div style="text-align: center; font-weight: bold;">Accumulated</div><div style="text-align: center; font-weight: bold;">Unrealized</div><div style="text-align: center; font-weight: bold;">Gains and</div><div style="text-align: center; font-weight: bold;">(Losses)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 2px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">U.S. Treasury debt securities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>4,992,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>3,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,992,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>3,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The Company also held a certificate of deposit that is not carried at fair value on the consolidated balance sheets and is classified as a held-to-maturity security. As of May 31, 2020, the carrying amount of held-to-maturity securities was $0. As of August 31, 2019, the carrying amount of held-to-maturity securities was $192,800 and is recorded as short-term investments in the accompanying consolidated financial statements.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R9.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331230616408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>WATER AND LAND ASSETS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>WATER AND LAND ASSETS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">WATER AND LAND ASSETS</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 3 &#8211; WATER AND LAND ASSETS</div><div><br /></div><div style="text-align: justify;">The Company&#8217;s water rights and current water and wastewater service agreements are more fully described in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual Report. There have been no significant changes to the Company&#8217;s water rights or water and wastewater service agreements during the nine months ended May 31, 2020.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Investment in Water and Water Systems</u></div><div><br /></div><div style="text-align: justify;">The Company&#8217;s Investments in Water and Water Systems consist of the following costs and accumulated depreciation and depletion at May 31, 2020 and August 31, 2019:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Costs</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Accumulated</div><div style="text-align: center; font-weight: bold;">Depreciation</div><div style="text-align: center; font-weight: bold;">and Depletion</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Costs</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Accumulated</div><div style="text-align: center; font-weight: bold;">Depreciation</div><div style="text-align: center; font-weight: bold;">and Depletion</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Rangeview Water Supply</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>14,827,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(15,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>14,823,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(14,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch water rights and other costs</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,486,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(926,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,371,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(757,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Fairgrounds water and water system</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,899,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,216,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,899,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,151,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Rangeview water system</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>15,905,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(648,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>5,617,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(372,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Water Supply &#8211; Other</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>7,542,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,036,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,758,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(860,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Wild Pointe service rights</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,631,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(677,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,631,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(489,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch pipeline</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>5,727,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(554,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>5,723,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(411,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Lost Creek water supply</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>3,372,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>3,324,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Construction in progress</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>1,076,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>8,176,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Totals</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>60,469,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(5,075,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>54,327,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(4,056,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net investments in water and water systems</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>55,393,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>50,270,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">Capitalized terms in this section not defined herein are defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual Report.</div><div><br /></div><div style="text-align: justify;">The Rangeview water system includes the Sky Ranch water reclamation facility. The Company placed the facility in service during February 2020.</div><div><br /></div><div style="color: rgb(0, 0, 0); text-align: justify;"><font style="background-color: rgb(255, 255, 255);">Construction in progress primarily consists of additional water facilities at Sky Ranch. The Company anticipates the additional facilities will be placed in service during the fourth quarter of fiscal 2020.</font></div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Depletion and Depreciation</u></div><div><br /></div><div style="text-align: justify;">The Company recorded an immaterial amount of depletion charges during the three and nine months ended May 31, 2020 and 2019. The depletion was related entirely to the Rangeview Water Supply.</div><div><br /></div><div style="text-align: justify;">The Company recorded $471,200 and $322,700 of depreciation expense during the three months ended May 31, 2020 and 2019, respectively. These figures include $85,600 and $97,800 of depreciation expense for other equipment not included in the table above during the three months ended May 31, 2020 and 2019, respectively.</div><div><br /></div><div style="text-align: justify;">The Company recorded $1,253,200 and $812,700 of depreciation expense during the nine months ended May 31, 2020 and 2019, respectively. These figures include $265,900 and $276,200 of depreciation expense for other equipment not included in the table above during the nine months ended May 31, 2020 and 2019, respectively.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 360<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120429125&amp;loc=d3e99893-112916<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -URI http://asc.fasb.org/topic&amp;trid=2155823<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 360<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=120429125&amp;loc=SL120174063-112916<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 360<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120429125&amp;loc=d3e99779-112916<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331228932808">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>LONG-TERM OBLIGATIONS AND OPERATING LEASE<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LongTermObligationsAndOperatingLeaseAbstract', window );"><strong>LONG-TERM OBLIGATIONS AND OPERATING LEASE [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock', window );">LONG-TERM OBLIGATIONS AND OPERATING LEASE</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 4 &#8211; LONG-TERM OBLIGATIONS AND OPERATING LEASE</div><div><br /></div><div style="text-align: justify;">The Participating Interests in Export Water Supply is an obligation of the Company that has no scheduled maturity date. Therefore, maturity of this liability is not disclosed in tabular format but is described below.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Participating Interests in Export Water Supply</u></div><div><br /></div><div style="text-align: justify;">The Company acquired its Rangeview Water Supply through various amended agreements entered into in the early 1990s. The acquisition was finalized with the signing of the CAA in 1996. Upon entering into the CAA, the Company recorded an initial liability of $11.1 million, which represented the cash the Company received from the participating interest holders that was used to purchase the Company&#8217;s Export Water (described in greater detail in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets </font>in Part II, Item 8 of the 2019 Annual Report). The Company agreed to remit a total of $31.8 million of proceeds received from the sale of Export Water to the participating interest holders in return for their initial $11.1 million investment. The obligation for the $11.1 million was recorded as debt, and the remaining $20.7 million contingent liability was not reflected on the Company&#8217;s consolidated balance sheet because the obligation to pay this is contingent on the sale of Export Water, the amounts and timing of which are not reasonably determinable.</div><div><br /></div><div style="text-align: justify;">The CAA obligation is non-interest bearing, and if the Export Water is not sold, the parties to the CAA have no recourse against the Company. If the Company does not sell the Export Water, the holders of the Series B preferred stock of the Company are also not entitled to payment of any dividend and have no contractual recourse against the Company.</div><div><br /></div><div style="text-align: justify;">As the proceeds from the sale of Export Water are received and the amounts are remitted to the external CAA holders, the Company allocates a ratable percentage of this payment to the principal portion (the Participating Interests in Export Water Supply<font style="font-style: italic;">&#160;</font>liability account), with the balance of the payment being charged to the contingent obligation portion. Because the original recorded liability, which was $11.1 million, was 35% of the original total liability of $31.8 million, approximately 35% of each payment remitted to the CAA holders is allocated to the recorded liability account. The remaining portion of each payment, or approximately 65%, is allocated to the contingent obligation, which is recorded on a net revenue basis.</div><div><br /></div><div style="text-align: justify;">From time to time, the Company reacquired various portions of the CAA obligations, which retained their original priority, including the Land Board&#8217;s CAA interest which was assigned and relinquished to the Company in 2014. The Company did not make any CAA acquisitions during the three and nine months ended May 31, 2020 and 2019.</div><div><br /></div><div style="text-align: justify;">The Company is currently allocated 88.105% of the total proceeds from the sale of Export Water after payment of the Land Board royalty. As a result of the acquisitions and consideration from cumulative sales of Export Water as detailed in the table below, the remaining potential third-party obligation at May 31, 2020, is less than $1.0 million.</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Export</div><div style="text-align: center; font-weight: bold;">Water</div><div style="text-align: center; font-weight: bold;">Proceeds</div><div style="text-align: center; font-weight: bold;">Received</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Initial Export</div><div style="text-align: center; font-weight: bold;">Water</div><div style="text-align: center; font-weight: bold;">Proceeds to</div><div style="text-align: center; font-weight: bold;">Pure Cycle</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Total</div><div style="text-align: center; font-weight: bold;">Potential</div><div style="text-align: center; font-weight: bold;">Third-Party</div><div style="text-align: center; font-weight: bold;">Obligation</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Participating</div><div style="text-align: center; font-weight: bold;">Interests</div><div style="text-align: center; font-weight: bold;">Liability</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Contingency</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Original balances</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>218,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>31,807,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>11,090,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>20,717,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;">Activity from inception until August 31, 2019:</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Acquisitions</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>28,042,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(28,042,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(9,790,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(18,252,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Relinquishment</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>2,386,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(2,386,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(832,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(1,554,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Option payments - Sky Ranch and The Hills at Sky Ranch</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>110,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(42,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(68,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(23,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(44,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Arapahoe County tap fees</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>533,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(373,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(159,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(55,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(104,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Export Water sale payments</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>903,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(740,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(163,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(56,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(106,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance at August 31, 2019</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,547,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>29,491,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>987,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>332,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>655,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;">Activity for the nine months ended May 31, 2020:</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Export Water sale payments</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>101,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(89,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(12,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(4,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(7,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>1,648,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>29,402,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>975,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>328,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>647,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The CAA includes contractually established priorities which call for payments to CAA holders in order of their priority. This means that the first payees receive their full payment before the next priority level receives any payment and so on until full repayment. Of the next approximately $6.4 million of Export Water payouts, which based on current payout levels would occur over several years, the Company will receive approximately $5.6 million of revenue. Thereafter, the Company will be entitled to all but $220,000 of the proceeds from the sale of Export Water after deduction of the Land Board royalty.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>WISE Partnership</u></div><div><br /></div><div style="text-align: justify;">The Company, through the Rangeview District, entered into the Amended and Restated WISE Partnership &#8211; Water Delivery Agreement, dated December 31, 2013 (the &#8220;WISE Partnership Agreement&#8221;), among the City and County of Denver acting through its Board of Water Commissioners (&#8220;Denver Water&#8221;), the City of Aurora acting by and through its Utility Enterprise (&#8220;Aurora Water&#8221;), and the South Metro WISE Authority (&#8220;SMWA&#8221;). The SMWA was formed by the Rangeview District and nine other governmental or quasi-governmental water providers pursuant to the South Metro WISE Authority Formation and Organizational Intergovernmental Agreement, dated December 31, 2013 (the &#8220;SM IGA&#8221;), to enable the members of SMWA to participate in the regional water supply project known as the Water Infrastructure Supply Efficiency partnership (&#8220;WISE&#8221;) created by the WISE Partnership Agreement. The SM IGA specifies each member&#8217;s pro rata share of WISE and the members&#8217; rights and obligations with respect to WISE. The WISE Partnership Agreement provides for the purchase of certain infrastructure (i.e., pipelines, water storage facilities, water treatment facilities, and other appurtenant facilities) to deliver water to and among the 10 members of the SMWA, Denver Water and Aurora Water.</div><div><br /></div><div style="text-align: justify;">Pursuant to the terms of the Rangeview/Pure Cycle WISE Project Financing Agreement (the &#8220;WISE Financing Agreement&#8221;) between the Company and the Rangeview District, the Company has an agreement to fund the Rangeview District&#8217;s participation in WISE effective as of December 22, 2014. During the three and nine months ended May 31, 2020, the Company through the Rangeview District, purchased an additional 0 and 400 acre feet of WISE water for $0 and $582,200, respectively. The Company&#8217;s cost of funding the Rangeview District&#8217;s purchase of its share of existing infrastructure and future infrastructure for WISE and funding operations and water deliveries related to WISE is projected to be approximately $4.6 million over the next five years. See further discussion in Note 6 <font style="font-weight: bold;">&#8211;</font><font style="font-style: italic;"> Related Party Transactions.</font></div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Lease Commitments</u></div><div><br /></div><div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">Operating lease expense is generally recognized evenly over the term of the lease. </font>Effective as of February 2018, the Company entered into an operating lease for 11,393 square feet of office and warehouse space in Watkins, Colorado. The lease has a three-year term with payments of $6,600 per month and an option to extend the primary lease term for a two-year period at a rate equal to a 12.5% increase over the primary base payments.</div><div><br /></div><div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">The Company did not enter into any new leases in the three or nine months ended May 31, 2020. Rent expense consisted of operating lease expense of $21,300 and $63,900 for the three and nine months ended May 31, 2020, respectively. There was no sublease rental income for the three or nine months ended May 31, 2020. The Company paid $19,800 and $59,500 against </font><font style="font-style: italic; color: rgb(0, 0, 0);">Lease obligations &#8212; operating leases</font><font style="color: rgb(0, 0, 0);"> during the three and nine months ended May 31, 2020, respectively.</font></div><div><br /></div><div style="color: rgb(0, 0, 0); text-align: justify;">Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheet. For lease agreements entered into or reassessed in the future, the Company will be required to combine the lease and non-lease components in determining the lease liabilities and right-of-use (&#8220;ROU&#8221;) assets.</div><div><br /></div><div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">The Company&#8217;s lease agreements generally do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at lease commencement date for purposes of determining the present value of lease payments. The Company used the incremental borrowing rate of 6% on August 31, 2019, for all leases that commenced prior to that date.</font>&#160;<font style="color: rgb(0, 0, 0);">The Company elected the hindsight practical expedient to determine the lease term for existing leases, which resulted in the lengthening of the lease term related to the Company&#8217;s office lease.</font></div><div><br /></div><div style="color: rgb(0, 0, 0); text-align: justify;">ROU lease assets and lease liabilities for the Company&#8217;s operating leases were recorded in the consolidated balance sheet as follows:</div><div><font style="color: #000000;"></font><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">As of May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Operating leases - right of use assets</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>213,252</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accounts payable and accrued liabilities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>70,191</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Lease obligations - operating leases, net of current portion</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>140,318</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total lease liability</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>210,509</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Weighted average remaining lease term (in years)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2.7</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Weighted average discount rate</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>6.0</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>%</div></td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LongTermObligationsAndOperatingLeaseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LongTermObligationsAndOperatingLeaseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for information about long-term obligations and operating lease agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LongTermObligationsAndOperatingLeaseDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331229035240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>SHAREHOLDERS' EQUITY [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">SHAREHOLDERS' EQUITY</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 5 &#8211; SHAREHOLDERS&#8217; EQUITY</div><div><br /></div><div style="text-align: justify;">The Company maintains the 2014 Equity Incentive Plan (the &#8220;2014 Equity Plan&#8221;), which was approved by shareholders in January 2014 and became effective on April 12, 2014. Executives, eligible employees, consultants and non-employee directors are eligible to receive options and stock grants pursuant to the 2014 Equity Plan. Pursuant to the 2014 Equity Plan, options to purchase shares of stock and stock awards can be granted with exercise prices, vesting conditions and other performance criteria determined by the Compensation Committee of the board of directors. The Company has reserved 1.6 million shares of common stock for issuance under the 2014 Equity Plan. The Company began awarding options and stock awards under the 2014 Equity Plan in January 2015. Prior to the effective date of the 2014 Equity Plan, the Company granted options and stock awards to eligible participants under its 2004 Incentive Plan (the &#8220;2004 Incentive Plan&#8221;), which expired on April 11, 2014. No additional awards may be granted pursuant to the 2004 Incentive Plan; however, awards outstanding as of April 11, 2014, will continue to vest and expire and may be exercised in accordance with the terms of the 2004 Incentive Plan.</div><div><br /></div><div style="text-align: justify;">The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2020:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Number</div><div style="text-align: center; font-weight: bold;">of Options</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Weighted Average</div><div style="text-align: center; font-weight: bold;">Exercise Price</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Weighted Average</div><div style="text-align: center; font-weight: bold;">Remaining</div><div style="text-align: center; font-weight: bold;">Contractual Term</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Approximate</div><div style="text-align: center; font-weight: bold;">Aggregate</div><div style="text-align: center; font-weight: bold;">Intrinsic Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Outstanding at August 31, 2019</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>555,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6.33</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6.27</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,527,590</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Granted</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>130,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10.41</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Exercised</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(15,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2.67</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Forfeited or expired</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Outstanding at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>670,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>7.20</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>6.37</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>2,066,420</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Options exercisable at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>490,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>6.07</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>5.42</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>2,023,755</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">On September 25, 2019 and September 27, 2019 there were 80,000 and 50,000 stock options granted to employees and senior management, respectively. The weighted-average grant-date fair value of stock options granted were $4.21 and $4.16, respectively. These options vest evenly over three years from the date of the grant and expire no more than ten years from the date of the grant.</div><div><br /></div><div style="text-align: justify;">On January 15, 2020, the six non-employee Board members were each granted 2,000 unrestricted stock grants. The fair market value of the unrestricted shares for share-based compensation expensing is equal to the closing price of the Company's common stock on the date of grant of $12.45. Stock-based compensation expense includes $149,400 of expense related to these unrestricted stock grants for the&#160; nine months ended May 31, 2020. These stock grants were fully expensed at the date of the grant because no vesting requirements exist for unrestricted stock grants.&#160; There was no stock-based compensation expense related to unrestricted stock grants for the three months ended May 31, 2020 and 2019 and nine months ended May 31, 2019.</div><div><br /></div><div style="text-align: justify;">The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as of and for the nine months ended May 31, 2020:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Number</div><div style="text-align: center; font-weight: bold;">of Options</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Weighted Average</div><div style="text-align: center; font-weight: bold;">Grant Date</div><div style="text-align: center; font-weight: bold;">Fair Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Non-vested options outstanding at August 31, 2019</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>152,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4.03</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Granted</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>130,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>4.19</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Vested</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(102,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3.75</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Forfeited</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Non-vested options outstanding at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>180,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>4.31</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">All non-vested options are expected to vest.</div><div><br /></div><div style="text-align: justify;">Stock-based compensation expense was $81,900 and $96,100 for the three months ended May 31, 2020 and 2019, respectively. Stock-based compensation expense, including unrestricted stock grant expense, was $435,100 and $257,800 for the nine months ended May 31, 2020 and 2019, respectively.</div><div><br /></div><div style="text-align: justify;">At May 31, 2020, the Company had unrecognized compensation expenses totaling $543,000 relating to non-vested options that are expected to vest. The weighted-average period over which these options are expected to vest is approximately two years.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -URI http://asc.fasb.org/topic&amp;trid=2228938<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R12.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156853528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>RELATED PARTY TRANSACTIONS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">RELATED PARTY TRANSACTIONS</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 6 &#8211; RELATED PARTY TRANSACTIONS</div><div><br /></div><div style="text-align: justify;">The Rangeview District is a quasi-municipal corporation and political subdivision of Colorado formed in 1986 for the purpose of providing water and wastewater service to the Lowry Range and other approved areas. The Rangeview District is governed by an elected board of directors. Eligible voters and persons eligible to serve as a director of the Rangeview District must own an interest in property within the boundaries of the Rangeview District. The Company owns certain rights and real property interests which encompass the current boundaries of the Rangeview District. Sky Ranch Metropolitan District Nos. 1, 3, 4 and 5 (collectively, the &#8220;Sky Ranch Districts&#8221;) and the CAB are quasi-municipal corporations and political subdivisions of Colorado formed for the purpose of providing service to the Company&#8217;s Sky Ranch property. The current members of the board of directors of each of the Rangeview District, the Sky Ranch Districts and the CAB consist of three employees of the Company and one independent board member.</div><div><br /></div><div style="font-weight: bold;"><u>The Rangeview District</u></div><div><br /></div><div style="text-align: justify;">On December 16, 2009, the Company entered into a Participation Agreement with the Rangeview District, whereby the Company agreed to provide funding to the Rangeview District in connection with the Rangeview District joining the South Metro Water Supply Authority (&#8220;SMWSA&#8221;). The Company provides funding pursuant to the Participation Agreement annually with $17,400 and $22,200 being provided during fiscal years 2020 and 2019, respectively.</div><div><br /></div><div style="text-align: justify;">Through the WISE Financing Agreement, the Company agreed to fund the Rangeview District&#8217;s cost of participating in the regional water supply project known as the WISE partnership. During the three months ended February 29, 2020, the Company, through the Rangeview District, purchased an additional 400 acre feet of WISE water for $582,200. The Company did not purchase any additional water during the three months ended May 31, 2020. The Company anticipates spending an additional $4.6 million over the next five fiscal years to fund the Rangeview District&#8217;s purchase of its share of the water transmission line and additional facilities, water and related assets for WISE and to fund operations and water deliveries related to WISE. To date, the Company has capitalized the funding provided pursuant to the WISE Financing Agreement because the funding has been provided to purchase capacity in the WISE infrastructure. The Company&#8217;s total investment in the WISE assets as of May 31, 2020, is $6.1 million.</div><div><br /></div><div style="text-align: justify;">In 1995, the Company extended a loan to the Rangeview District. The loan provided for borrowings of up to $250,000, is unsecured, and bears interest based on the prevailing prime rate plus 2% (5.25% at May 31, 2020). The maturity date of the loan is December 31, 2020, at which time it will automatically renew for another 12 month term. In January 2014, the Rangeview District and the Company entered into a funding agreement that allows the Company to continue to provide funding to the Rangeview District for day-to-day operations and accrue the funding into a note that bears interest at a rate of 8% per annum and remains in full force and effect for so long as the 2014 Amended and Restated Lease Agreement remains in effect. $1,031,500 of the balance in <font style="font-style: italic;">Notes receivable - related parties, including accrued interest </font>at May 31, 2020, includes borrowings by the Rangeview District of $590,300 and accrued interest of $441,200.</div><div><br /></div><div style="text-align: justify; font-weight: bold;"><u>Sky Ranch Community Authority Board</u></div><div><br /></div><div style="text-align: justify;">Pursuant to that certain Community Authority Board Establishment Agreement, as the same may be amended from time to time, Sky Ranch Metropolitan District Nos. 1 and 5 formed the CAB to, among other things, design, construct, finance, operate and maintain certain public improvements for the benefit of the property within the boundaries and/or service area of the Sky Ranch Districts. In order for the public improvements to be constructed and/or acquired, it is necessary for each Sky Ranch District, directly or through the CAB, to be able to fund the improvements and pay its ongoing operations and maintenance expenses related to the provision of services that benefit the property.</div><div><br /></div><div style="text-align: justify;">On September 18, 2018, the parties entered into a series of agreements, including a Facilities Funding and Acquisition Agreement (the &#8220;2018 FFAA&#8221;), with an effective date of November 13, 2017, which supersedes and consolidates the previous funding agreements between the Company and the CAB and the Company and Sky Ranch Metropolitan District No. 5 pursuant to which</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: justify;"><div>the CAB agreed to repay the amounts owed by Sky Ranch Metropolitan District No. 5 to the Company, and the previous Facilities Funding and Acquisition Agreement entered into between the Company and Sky Ranch Metropolitan District No. 5 in 2014 was terminated;</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: justify;"><div>a Project Funding and Reimbursement Agreement and a June 2018 Funding Acquisition Agreement between the CAB and the Company were terminated;</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: justify;"><div>the CAB acknowledged all amounts owed to the Company under the terminated agreements, as well as amounts the Company incurred to finance the formation of the CAB; and</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: justify;"><div>the Company agreed to fund an agreed upon list of improvements to be constructed by the CAB with an estimated cost of $30,000,000 (including improvements already funded) on an as-needed basis for calendar years 2018&#8211;2023.</div></td></tr></table><div><br /></div><div style="text-align: justify;">All amounts owed under the 2018 FFAA bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest income is not recognized on the amounts owed by the CAB until the bonds are issued. Due to this contingency, interest is deferred until the point in time when bonds are issued. At that point, the accrued interest will be recognized. The CAB agrees to exercise reasonable efforts to issue bonds to reimburse the Company subject to certain limitations. In addition, the CAB agrees to utilize any available moneys not otherwise pledged to payment of debt, used for operation and maintenance expenses, or otherwise encumbered, to reimburse the Company. Any advances not paid or reimbursed by the CAB by December 31, 2058, shall be deemed forever discharged and satisfied in full.</div><div><br /></div><div style="text-align: justify;">As of May 31, 2020, the balance of the Company&#8217;s advances for improvements, excluding interest, net of costs reimbursed in November 2019, to the CAB totaled $14.9 million, of which $1.8 million is included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> and $13.1 million was expensed through <font style="font-style: italic;">Land development construction costs</font>. The advances have been used by the CAB to pay for construction of public improvements. The Company submits specific costs for reimbursement to the CAB.&#160; Based on the specific costs being reimbursed by the CAB, the Company records those costs that have been previously expensed in cost of sales as other income and those costs that remain capitalized as land development inventory costs as a reduction of the related land development inventory costs held in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories.</font> Any reimbursable costs repaid after all capitalized expenses and lot revenues have been fully recognized are recorded as other income.</div><div><br /></div><div style="text-align: justify;">Refer to Note 1 &#8211; <font style="font-style: italic;">Presentation of Interim Information - Revenue Recognition - Land Development Activities </font>for a summary of reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts.</div><div><br /></div><div style="text-align: justify;">In September 2018, effective as of November 13, 2017, the Company entered into an Operation Funding Agreement with the CAB obligating the Company to advance funding to the CAB for operation and maintenance expenses for the 2018 and 2019 calendar years. All payments are subject to annual appropriations by the CAB in its absolute discretion.&#160; The advances by the Company accrue interest at the rate of 6% per annum from the date of the advance. $28,200 of the balance of the <font style="font-style: italic;">Notes receivable &#8211; related parties, including accrued interest</font> at May 31, 2020, includes borrowings by the CAB of $25,500 and accrued interest of $2,700.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -URI http://asc.fasb.org/topic&amp;trid=2122745<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>26
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331229044904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SIGNIFICANT CUSTOMERS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RisksAndUncertaintiesAbstract', window );"><strong>SIGNIFICANT CUSTOMERS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskDisclosureTextBlock', window );">SIGNIFICANT CUSTOMERS</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 7 &#8211; SIGNIFICANT CUSTOMERS</div><div><br /></div><div style="text-align: justify; font-style: italic; font-weight: bold;">Water and Wastewater</div><div><br /></div><div style="text-align: justify;"><font style="background-color: #FFFFFF; color: #000000;">Pursuant to the Rangeview Water Agreements (defined in Note 4 &#8211; </font><font style="background-color: #FFFFFF; font-style: italic; color: #000000;">Water and Land Assets</font><font style="background-color: #FFFFFF; color: #000000;"> in Part II, Item 8 of the 2019 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&#8217;s behalf to the Rangeview District&#8217;s customers. Sales to the Rangeview District accounted for 72% and 6% of the Company&#8217;s total water and wastewater revenues for the three months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;"> respectively. Sales to the Rangeview District accounted for 68% and 5% of the Company&#8217;s total water and wastewater revenues for the </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;"> months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively.</font>&#160;<font style="background-color: #FFFFFF; color: #000000;">The Rangeview District has three significant customers, the Ridgeview Youth Services Center (&#8220;Ridgeview&#8221;), Sky Ranch Community Development (&#8220;Sky Ranch&#8221;) and Elbert &amp; Highway 86 Commercial District (&#8220;Wild Pointe&#8221;). The Rangeview District&#8217;s significant customers accounted for 21%, 39% and 10%, respectively, of the Company&#8217;s total water and wastewater revenues for the three months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;">, and 2%, 0% and 4%, respectively, for the three months ended May 31, </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">. Ridgeview, Sky Ranch and Wild Pointe accounted for 27%, 24% and 13%, respectively, and 3%, 0% and 2%, respectively, for the </font><font style="color: #000000;">nine</font><font style="background-color: #FFFFFF; color: #000000;"> months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">2019</font><font style="background-color: #FFFFFF; color: #000000;">.</font></div><div><br /></div><div style="text-align: justify;">Revenues related to the provision of water for the oil and gas industry to one customer accounted for 11% of the Company&#8217;s water and wastewater revenues for the three months ended May 31, 2020. Revenues related to the provision of water for the oil and gas industry to one customer represented 93% of the Company&#8217;s water and wastewater revenues for the three months ended May 31, 2019. Revenues related to the provision of water for the oil and gas industry to one customer represented approximately 19% of the Company&#8217;s water and wastewater revenues for the nine months ended May 31, 2020. Revenues related to the provision of water for the oil and gas industry to two customers represented 67% and 25%, respectively, for the nine months ended May 31, 2019.</div><div><br /></div><div style="text-align: justify; font-style: italic; font-weight: bold;">Land Development</div><div><br /></div><div style="text-align: justify;">Revenues from two customers represented 100% of the Company&#8217;s lot sales revenues for the three months ended May 31, 2020. The two customers represented 67% and 33%, respectively, of the Company&#8217;s lot sales revenues for the three months ended May 31, 2020. Revenues from three customers represented 100% of the Company&#8217;s lot sales revenues for the three months ended May 31, 2019. The three customers represented 65%, 25% and 10%, respectively, of the Company&#8217;s lot sales revenues for the three months ended May 31, 2019.</div><div><br /></div><div style="text-align: justify;">Revenues from three customers represented 100% of the Company&#8217;s lot sales revenues for the nine months ended May 31, 2020 and May 31, 2019. The three customers represented 61%, 25% and 14%, respectively, of the Company&#8217;s land development revenues for the nine months ended May 31, 2020 and 45%, 34% and 21%, respectively, of the Company&#8217;s lot sales revenues for the nine months ended May 31, 2019.</div><div style="text-align: justify;"><br /></div><div style="font-style: italic; font-weight: bold;">Accounts Receivable</div><div><br /></div><div style="text-align: justify;">The Company had accounts receivable from the Rangeview District which accounted for 76% and 40% of the Company&#8217;s trade receivables balances at May 31, 2020 and August 31, 2019, respectively. The Company had accounts receivable from one other customer which accounted for approximately 10% and 57% of its trade receivable balances at May 31, 2020 and August 31, 2019, respectively. Accounts receivable from <font style="background-color: #FFFFFF; color: #000000;">Ridgeview </font>accounted for 7% and 5% of the Company&#8217;s water and wastewater trade receivables as of May 31, 2020 and August 31, 2019, respectively. Accounts receivable from <font style="background-color: #FFFFFF; color: #000000;">Wild Pointe</font> accounted for 18% and 0% of the Company&#8217;s water and wastewater trade receivables as of May 31, 2020 and August 31, 2019, respectively.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI http://asc.fasb.org/topic&amp;trid=2134479<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RisksAndUncertaintiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RisksAndUncertaintiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R14.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156610248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ACCRUED LIABILITIES<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PayablesAndAccrualsAbstract', window );"><strong>ACCRUED LIABILITIES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">ACCRUED LIABILITIES</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 8 &#8211; ACCRUED LIABILITIES</div><div><br /></div><div style="text-align: justify;">At May 31, 2020, the Company had accrued liabilities of $1,273,600, of which $70,200 was for current operating lease obligations, $111,100 was for estimated property taxes, $35,100 was for professional fees, and $1,057,200 was for operating payables, of which $142,400 is payable to the Rangeview Metropolitan District for water infrastructure capital projects and $487,500 is payable to the CAB for the development of Sky Ranch. The Sky Ranch development costs are also included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> or expensed through <font style="font-style: italic;">Land development construction costs</font>.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">At August 31, 2019, the Company had accrued liabilities of $3,428,400, of which $460,500 was for accrued compensation, $94,000 was for estimated property taxes, $70,000 was for professional fees and the remaining $2,803,900 was related to operating payables, of which $1,399,600 is payable to the CAB for the development of Sky Ranch and $930,900 is payable to the Rangeview District for water infrastructure capital projects. The Sky Ranch development costs were also included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> or expensed through <font style="font-style: italic;">Land development construction costs</font>.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a),20,24)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PayablesAndAccrualsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PayablesAndAccrualsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R15.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331229020296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>COMMITMENTS AND CONTINGENCIES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">COMMITMENTS AND CONTINGENCIES</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 9 &#8211; COMMITMENTS AND CONTINGENCIES</div><div><br /></div><div style="text-align: justify;">The Company has historically been involved in various claims, litigation and other legal proceedings that arise in the ordinary course of its business. The Company records an accrual for a material loss contingency when its occurrence is probable and damages can be reasonably estimated based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. The Company makes such estimates based on information known about the claims and experience in contesting, litigating and settling similar claims. Disclosures are also provided for reasonably possible losses that could have a material effect on the Company&#8217;s financial position, results of operations or cash flows. The Company was not involved in litigation or other legal proceedings and had no contingencies where the risk of material loss was reasonably possible as of May 31, 2020, or August 31, 2019.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -URI http://asc.fasb.org/topic&amp;trid=2127136<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -URI http://asc.fasb.org/topic&amp;trid=2144648<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559207&amp;loc=d3e25336-109308<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559207&amp;loc=d3e25336-109308<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R16.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156589432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SEGMENT INFORMATION<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>SEGMENT INFORMATION [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingDisclosureTextBlock', window );">SEGMENT INFORMATION</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">NOTE 10 &#8211; SEGMENT INFORMATION</div><div><br /></div><div style="text-align: justify;">An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (the &#8220;CODM&#8221;), or decision-making group, to evaluate performance and make operating decisions. The Company has identified its CODM as its Chief Executive Officer.</div><div><br /></div><div style="text-align: justify;">During the year 2018, the Company began construction of residential lots at Sky Ranch, which the Company has identified as a segment. Currently, the Company operates its wholesale water and wastewater services and land development activities at Sky Ranch as the Company's two operating segments.</div><div><br /></div><div style="text-align: justify;">The wholesale water and wastewater services business includes providing water service to customers, which water is provided by the Company using water rights owned or controlled by the Company, and developing infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater.</div><div><br /></div><div style="text-align: justify;">As part of the Company&#8217;s land development activities at Sky Ranch, the Company entered into contracts for the sale of residential lots (see Note 2 &#8211; <font style="font-style: italic;">Summary of Significant Accounting Policies </font>in Part II, Item 8 of the 2019 Annual Report). The Company identified land development and lot sales as a separate segment beginning in the fiscal year 2018.</div><div><br /></div><div style="text-align: justify;">Oil and gas royalties and licenses are a passive activity (i.e. the Company&#8217;s CODM does not evaluate the performance of, or allocate resources specifically to, the oil and gas operations) and not an operating business activity and, therefore, are not classified as a segment.</div><div><br /></div><div style="text-align: justify;">The following table summarizes wholesale water and wastewater services and land development revenue information by segment:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="5" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Three Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Nine Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,153,951</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,476,570</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,326,207</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,851,961</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>696,170</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>2,708,093</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>11,503,523</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>6,035,670</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total revenues</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>1,850,121</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>5,184,663</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>15,829,730</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>10,887,631</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The following table summarizes wholesale water and wastewater services and land development pretax income by segment:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Three Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Nine Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>603,158</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,802,340</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,621,356</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,222,922</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>140,390</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>120,021</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,342,810</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>319,676</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Corporate</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(707,273</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(660,990</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(1,925,548</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(1,743,280</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total pretax income (loss)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>36,275</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>1,261,371</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>8,038,618</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>1,799,318</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The following table summarizes total assets by segment.&#160; The assets consist of water rights and water and wastewater systems in the Company&#8217;s wholesale water and wastewater services segment. The assets consist of land, land development inventories and deposits in the Company&#8217;s land development segment.&#160; The Company&#8217;s other assets primarily consist of cash and cash equivalents, equipment, mineral rights, related party notes receivables and a deferred tax asset.</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>56,244,054</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>51,588,079</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>9,498,852</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>16,866,542</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Corporate</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>22,466,167</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>15,266,783</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total assets</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>88,209,073</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>83,721,404</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 34<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8981-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8721-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8844-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8657-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8721-108599<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -URI http://asc.fasb.org/topic&amp;trid=2134510<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>30
<FILENAME>R17.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331229044344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">INCOME TAXES</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-weight: bold;">NOTE 11 &#8211; INCOME TAXES</div><div><br /></div><div style="text-align: justify; color: #000000;">The Company recorded income tax expense of $8,900 and $0 for the three months ended May 31, 2020 and 2019, respectively, and $1,974,900 and $0 for the nine months ended May 31, 2020 and 2019, respectively. The net expense during the three months ended May 31, 2020 consisted of current income tax expense of $20,800 and deferred income tax benefit of ($11,900). The net expense during the nine months ended May 31, 2020 consisted of current income tax expense of $1,264,800 and deferred income tax expense of $710,100. The deferred tax expense consists of the usage of the Company's remaining $2.5 million net operating loss carryforwards and payment of deferred compensation in the period.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items. At May 31, 2020 the Company is estimating an annual effective tax rate of approximately 25%. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to various factors.</div><div><br /></div><div style="text-align: justify;">The provision for income taxes is recorded at the end of each interim period based on the Company&#8217;s best estimate of its effective income tax rate expected to be applicable for the full fiscal year. The Company&#8217;s effective income tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020,&#160; respectively. The Company did not record income tax expense for the three or nine months ended May 31, 2019.</div><div><br /></div><div style="text-align: justify;">The Company paid Federal and State tax installments of $212,300 and $22,000, respectively, during the three months ended May 31, 2020. The Company paid Federal and State tax installments of $1,089,700 and $215,500, respectively, during the nine months ended May 31, 2020. No taxes were paid during the three and nine months ended May 31, 2019.</div><div><br /></div><div style="text-align: justify;">Deferred income taxes reflect the tax effects of net operating loss carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company&#8217;s deferred tax assets as of May 31, 2020 and August 31, 2019 are as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">For the Periods Ended:</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom;"><div style="text-indent: -9pt; margin-left: 9pt;">Deferred tax assets (liabilities):</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net operating loss carryforwards</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>609,439</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Accrued compensation</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>113,559</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Deferred revenues</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>104,219</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>149,895</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Depreciation and depletion</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(26,120</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(46,408</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Non-qualified stock options</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>449,639</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>410,633</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Other</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>45,452</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>46,128</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net deferred tax asset</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>573,190</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>1,283,246</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify; color: #000000;">The Company maintained a valuation allowance on the net deferred tax asset other than AMT credit carryforwards as of August 31, 2018. For the fiscal year ended August 31, 2019, the Company has determined it is more likely than not that the Company will realize its deferred tax assets, which consist primarily of net operating loss carryforwards. The Company assessed the realizability of its deferred tax assets using all available evidence; considering both historical results and projections of profitability for the reasonably foreseeable future periods. As a result of the Company&#8217;s annual reassessment of its conclusions regarding the realization of its deferred tax assets at each financial reporting date, the Company concluded that its deferred tax assets are realizable, and therefore, the valuation allowance is no longer necessary.</div><div><br /></div><div style="text-align: justify;">At August 31, 2019, the Company had $2.5 million of net operating loss carryforwards available for income tax purposes. The net operating loss carryforwards expire at various times beginning in 2036 and ending in 2038 for federal income tax purposes and expire at various times beginning in 2035 and ending in 2036 for state income tax purposes. As of November 30, 2019, the Company used the remaining balance of its net operating loss carryforwards.</div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32857-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 11.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330215-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.5.Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32705-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 270<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6424409&amp;loc=d3e44925-109338<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -URI http://asc.fasb.org/topic&amp;trid=2144680<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6424122&amp;loc=d3e41874-109331<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149367928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION (Policies)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>PRESENTATION OF INTERIM INFORMATION [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Presentation</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify;">The May 31, 2020 consolidated balance sheet, the consolidated statements of operations and comprehensive income for the three and nine months ended May 31, 2020 and 2019, the consolidated statements of shareholders&#8217; equity for the three and nine months ended May 31, 2020 and 2019, and the consolidated statements of cash flows for the nine months ended May 31, 2020 and 2019 have been prepared by Pure Cycle Corporation (the &#8220;Company&#8221;) and have not been audited. The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows at May 31, 2020, and for all periods presented.</div><div><br /></div><div style="text-align: justify;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) have been condensed or omitted. It is suggested that the accompanying consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended August 31, 2019 (the &#8220;2019 Annual Report&#8221;) filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on November 12, 2019. The results of operations for interim periods presented are not necessarily indicative of the operating results expected for the full fiscal year. The August 31, 2019 balance sheet was derived from the Company&#8217;s audited consolidated financial statements.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PriorPeriodReclassificationAdjustmentDescription', window );">Reclassifications</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Reclassifications</u></div><div><br /></div><div style="text-align: justify; color: #000000;">Certain reclassifications have been made to the 2019 financial statements to conform to the consolidated 2020 financial statement presentation. These reclassifications had no effect on net earnings or cash flows previously reported.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Use of Estimates</u></div><div><br /></div><div style="text-align: justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used to account for certain items such as revenue recognition, reimbursable costs and expenses, costs of revenue for lot sales, share-based compensation, deferred tax asset valuation, depreciation and the recoverability of long lived assets. <font style="background-color: #FFFFFF; color: #212529;">Actual results and outcomes may differ from management&#8217;s estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to COVID-19.</font></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Cash and Cash Equivalents</u></div><div><br /></div><div style="text-align: justify;">Cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less. The Company&#8217;s cash equivalents are comprised entirely of money market funds maintained at a reputable financial institution and U.S. Treasury debt securities. At various times during the three months ended May 31, 2020, the Company&#8217;s main operating account exceeded federally insured limits. To date, the Company has not suffered a loss due to such excess balance.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandDevelopmentInventoriesPolicyTextBlock', window );">Land Development Inventories</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Land Development Inventories</u></div><div><br /></div><div style="text-align: justify;">Land development inventories primarily include land held for development and sale, which are stated at cost. The majority of the costs included in the Land development inventories line relate to costs to acquire and develop the Company&#8217;s Sky Ranch development. Sky Ranch is a 930-acre master planned development located in Arapahoe County, Colorado, and the Land development inventories account reflects costs incurred to construct infrastructure on the lots at Sky Ranch that meet the Company&#8217;s capitalization criteria for improvements. Costs are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company accumulates land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales over time based on inputs of costs incurred to date to total estimated costs to complete.</div><div><br /></div><div style="text-align: justify;">The Company values land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent sales prices for comparable lots. If a sales price is not available, the Company will consider several factors, including, but not limited to, current market conditions, and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its estimated net realizable value.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContractAssetPolicyTextBlock', window );">Contract Asset</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Contract Asset</u></div><div><br /></div><div style="text-align: justify;"><font style="color: #000000;">Contract receivables are recorded at the invoiced amount and do not bear interest. Credit is extended based on the evaluation of a customer&#8217;s financial condition and collateral is not required. </font>Contract assets<font style="color: #000000;"> reflect revenue which has been earned but not yet invoiced. The contract assets are transferred to receivables when the Company has the right to bill such amounts and they are invoiced.</font></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentPolicyTextBlock', window );">Investments</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Investments</u></div><div><br /></div><div style="text-align: justify;">Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determinations each reporting period.</div><div><br /></div><div style="text-align: justify;">Securities that the Company does not have the positive intent or ability to hold to maturity, including certificate of deposits and U.S. Treasury debt securities, are reported at their fair value. Changes in value of such securities are recorded as a component of <font style="font-style: italic;">Accumulated other comprehensive income (loss).</font> The cost of securities sold is based on the specific identification method. As of May 31, 2020, the Company held no securities.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock', window );">Concentration of Credit Risk and Fair Value</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Concentration of Credit Risk and Fair Value</u></div><div><br /></div><div style="text-align: justify;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and investments. From time to time, the Company places its cash in money market instruments, certificates of deposit and U.S. Treasury obligations. To date, the Company has not experienced significant losses on any of these investments.</div><div><br /></div><div style="text-align: justify;">The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of significant input to determine where within the fair value hierarchy the measurement falls.&#160; The estimated fair value measurements in Note 2 &#8211; <font style="font-style: italic;">Fair Value Measurements</font> are based on Level 2 of the fair value hierarchy.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Cash and Cash Equivalents &#8211;</font> The Company&#8217;s cash and cash equivalents are reported using the values as reported by the financial institution where the funds are held. These securities primarily include balances in the Company&#8217;s operating and savings accounts. The carrying amount of cash and cash equivalents approximate fair value.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Trade Accounts Receivable &#8211;</font> The Company records accounts receivable net of allowances for uncollectible accounts and the carrying value approximate fair value due to the short-term nature of the receivables.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Investments &#8211; </font>The carrying amounts of investments are recorded at fair value. Investments are described further in Note 2 &#8211; <font style="font-style: italic;">Fair Value Measurements.</font></div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Accounts Payable &#8211;</font> The carrying amounts of accounts payable approximate fair value due to the relatively short period to maturity for these instruments.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Long-Term Financial Liabilities</font><font style="font-weight: bold;"> &#8211;</font> The Comprehensive Amendment Agreement No. 1 (the &#8220;CAA&#8221;) is comprised of a recorded balance at fair value and an off-balance sheet or &#8220;contingent&#8221; obligation associated with the Company&#8217;s acquisition of its &#8220;Rangeview Water Supply&#8221; (as defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual Report). The amount payable is a fixed amount but is repayable only upon the sale of &#8220;Export Water&#8221; (as defined in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> in Part II, Item 8 of the 2019 Annual Report). Because of the uncertainty of the sale of Export Water, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. The CAA is described further in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease &#8211; Participating Interests in Export Water Supply</font>.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Notes Receivable &#8211; Related Parties</font><font style="font-weight: bold;"> &#8211; </font>The carrying amounts of the <font style="font-style: italic;">Notes receivable &#8211; related parties </font>(including with the Rangeview Metropolitan District (the &#8220;Rangeview District&#8221;) and the Sky Ranch Community Authority Board (the &#8220;CAB&#8221;)) approximate their fair value because the interest rates on the notes approximate market rates.</div><div><br /></div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Off-Balance Sheet Instruments &#8211; </font>The Company&#8217;s off-balance sheet instruments consist entirely of the contingent portion of the CAA. Because repayment of this portion of the CAA is contingent on the sale of Export Water, which is not reasonably estimable, the Company has determined that the contingent portion of the CAA does not have a determinable fair value. See further discussion in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease &#8211; Participating Interests in Export Water Supply</font>.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock', window );">Revenue Recognition</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Revenue Recognition</u></div><div><br /></div><div style="text-align: justify;">The Company disaggregates revenue by major product line as reported on the consolidated statements of operations and comprehensive income.</div><div><br /></div><div style="text-align: justify;">The Company generates revenues primarily through two lines of business: (i) through the provision of wholesale water and wastewater services and (ii) through the sale of developed land predominately in the form of residential lots, both of which are described in greater detail below..</div><div><br /></div><div style="font-style: italic; font-weight: bold;">Wholesale Water and Wastewater Service Fees</div><div><br /></div><div style="text-align: justify;">The Company generates revenue through its wholesale water and wastewater services predominantly from three sources, which are described in detail below:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(i)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Monthly water usage and wastewater treatment fees</u>&#160;<font style="font-weight: bold; font-style: italic;">&#8211;</font> The Company provides water and wastewater services to customers, for which the customers are charged fees monthly. Water usage fees are assessed to customers based on actual metered usage each month plus a base monthly service fee assessed per single family equivalent (&#8220;SFE&#8221;) unit served. One SFE is a customer, whether residential, commercial or industrial, that imparts a demand on the Company&#8217;s water or wastewater systems similar to the demand of a family of four persons living in a single-family house on a standard-sized lot. Water usage pricing is based on a tiered pricing structure. The Company recognizes wholesale water usage revenues at a point in time upon delivering water to its customers or its governmental customers&#8217; end-use customers, as applicable. Revenues recognized by the Company from the sale of &#8220;Export Water&#8221; and other portions of its &#8220;Rangeview Water Supply&#8221; off the &#8220;Lowry Range&#8221; are shown gross of royalties to the State of Colorado Board of Land Commissioners (the &#8220;Land Board&#8221;). The Company is the primary distributor of the Export Water and sets pricing for the sale of Export Water. Revenues recognized by the Company from the sale of water on the Lowry Range are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District. For water sales on the Lowry Range, the Rangeview District is directly selling the water and deemed the primary distributor of the water. The Rangeview District sets the price for the water sales on the Lowry Range. See further description of Export Water, the Lowry Range, and the Rangeview Water Supply in Note 4 &#8211; <font style="font-style: italic;">Water and Land Assets</font> under &#8220;Rangeview Water Supply and Water System&#8221; in Part II, Item 8 of the 2019 Annual Report.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">In addition, the Company provides water for hydraulic fracturing to industrial customers in the oil and gas industry that are located in and adjacent to its service areas (referred to as &#8220;O&amp;G operations&#8221;). O&amp;G operations revenues are recognized at a point in time upon delivering water to a customer, unless other special arrangements are made.</div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company delivered 12.2 million and 96.9 million gallons of water to customers during the three months ended May 31, 2020 and May 31, 2019, respectively, of which 0% and 93% was used for oil and gas exploration. <font style="background-color: #FFFFFF; color: #000000;">The Company delivered 32.4 million and 232.3 million gallons of water to customers during the nine months ended </font><font style="color: #000000;">May 31, 2020</font><font style="background-color: #FFFFFF; color: #000000;"> and </font><font style="color: #000000;">May 31, 2019</font><font style="background-color: #FFFFFF; color: #000000;">, respectively, of which 3% and 85% was used for oil and gas exploration.</font></div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company recognizes wastewater treatment revenues monthly based on a flat monthly fee and actual usage charges. The monthly wastewater treatment fees are shown net of amounts retained by the Rangeview District. Costs of delivering water and providing wastewater services to customers are recognized as incurred.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(ii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Water and wastewater tap fees/Special Facility funding</u> &#8211; The Company recognizes water and wastewater tap fees as revenue at the time the Company grants a right for the customer to tap into the water or wastewater service line to obtain service. Water tap fees recognized are based on the amounts billed by the Rangeview District and any amounts paid to third parties pursuant to the CAA as further described in Note 4 &#8211; <font style="font-style: italic;">Long-Term Obligations and Operating Lease</font> &#8211; <font style="font-style: italic;">Participating Interests</font>&#160;<font style="font-style: italic;">in Export Water Supply</font> below. The Company recognized $852,800 and $929,400 of water tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $3.2 million and $1.5 million of water tap revenues during the nine months ended May 31, 2020 and 2019, respectively. The Company recognized $152,100 and $153,800 of wastewater tap fee revenues during the three months ended May 31, 2020 and 2019, respectively, and $602,900 and $256,300 of wastewater tap fee revenues during the nine months ended May 31, 2020 and 2019, respectively.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company recognizes construction fees, including fees received to construct &#8220;Special Facilities&#8221; (as defined <font style="background-color: #FFFFFF; color: #000000;">under &#8220;</font><font style="background-color: #FFFFFF; font-style: italic; color: #000000;">Critical Accounting Policies &#8211; Revenue Recognition &#8211; Wholesale Water and Wastewater Fees</font><font style="background-color: #FFFFFF; color: #000000;">&#8221; </font>below), over time as the construction is completed because the customer is generally able to use the property improvement to enhance the value of other assets during the construction period. Special Facilities are facilities that enable water to be delivered to a single customer and are not otherwise classified as a typical wholesale facility or retail facility. Temporary infrastructure required prior to construction of permanent water and wastewater systems or transmission pipelines to transfer water from one location to another are examples of Special Facilities. Management has determined that Special Facilities are separate and distinct performance obligations because these projects are contracted to construct a specific water and wastewater system or transmission pipeline and typically do not include multiple performance obligations in a contract with a customer. No Special Facilities revenue has been recognized during the three or nine months ended May 31, 2020 or 2019.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top;">(iii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Consulting fees</u> &#8211; The Company recognizes consulting fees as revenues typically on a monthly basis. The Company earns these fees from municipalities and area water providers along the I-70 corridor, for which the Company provides contract operations services over time as services are consumed. Consulting fees are recognized monthly based on a flat monthly fee plus charges for additional work performed, if applicable. The Company recognized $13,800 and $37,900 of consulting fees during the three months ended May 31, 2020 and 2019, respectively, and $104,000 and $148,200 of consulting fees during the nine months ended May 31, 2020 and 2019, respectively.</div></td></tr></table><div><br /></div><div style="font-style: italic; font-weight: bold;">Land Development Activities</div><div><br /></div><div style="text-align: justify;">The Company generates revenues through the sale of finished lots at its Sky Ranch development primarily from four sources of revenues, which are described in detail below:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(i)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Sale of finished lots</u> &#8211; The Company acquired approximately 930 acres of land zoned as a Master Planned Community known as Sky Ranch along the I-70 corridor east of Denver, Colorado. The Company has entered into purchase and sale agreements with three separate home builders pursuant to which the Company agreed to sell, and each builder agreed to purchase, residential lots at Sky Ranch. The Company began construction of lots in March 2018 and segments its reporting of the activity relating to the costs and revenues from the construction and sale of lots at Sky Ranch.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company sells lots at Sky Ranch pursuant to distinct agreements with each home builder. These agreements follow one of two formats. One format is the sale of a finished lot, whereby the purchaser pays for a ready-to-build finished lot and the sales price is paid in a lump-sum upon completion of the finished lot that is permit ready. The Company recognizes revenues at the point in time of the closing of the sale of a finished lot in which control transfers to the builder as the transaction cycle is complete and the Company has no further obligations for the lot. During the three months ended May 31, 2020, the Company received no payments and recognized no revenue from its agreement for the sale of ready-to-build finished lots. During the nine months ended May 31, 2020, the Company received payment and recognized revenue of $2,836,700 from one home builder in exchange for the delivery of 41 finished lots. <font style="background-color: #FFFFFF; color: #000000;">During the three months ended May 31, 2019, the Company received payment and recognized revenue of $1,770,000 from one home builder in exchange for the delivery of 25 finished lots. During the nine months ended May 31, 2019, the Company received payment and recognized revenue of $2,070,000 from one home builder in exchange for the delivery of 29 finished lots.</font></div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The second format is the sale of finished lots pursuant to a lot development agreement with builders, whereby the Company receives payments in stages that include (i) payment upon the delivery of platted lots (which requires the Company to deliver deeded title to individual lots), (ii) a second payment upon the completion of certain infrastructure milestones, and (iii) final payment upon the delivery of the finished lot. Ownership and control of the platted lots pass to the builders once the Company closes the sale of the platted lots. Because the builder (i.e., the customer) takes control of the lot at the first closing and subsequent improvements made by the Company improve the builder&#8217;s lot as construction progresses, the Company accounts for revenue over time with progress measured based upon costs incurred to date compared to total expected costs.&#160; Any revenue in excess of amounts entitled to be billed is reflected on the balance sheet as a contract asset, and amounts received in excess of revenue recognized are recorded as deferred revenue. As of May 31, 2020, the Company had received cumulative payments of approximately $21 million under development agreements relating to the sale of 293 lots from two home builders, of which approximately $18.6 million of revenue was recognized over time based on the costs incurred to date compared to total expected costs for full completion of the 293 lots. During the three months ended May 31, 2020 and 2019, the Company recognized $696,200 and $938,100 of lot sales over time, respectively. For the nine months ended May 31, 2020 and 2019, the Company recognized $8,666,800 and $3,965,700 of lot sales over time, respectively. The Company had deferred revenue related to lot sales of $2,526,200 as of May 31, 2020. The Company does not have any material significant payment terms as all payments are expected to be received within 12 months after the delivery of each platted lot. The Company adopted the practical expedient for financing components and does not need to account for a financing component of these lot sales as the delivery of lot sales is expected to occur within one year or less.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(ii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Reimbursable Costs for Public Improvements</u> &#8211; The CAB is required to construct certain public improvements, such as water distribution systems, sewer collection systems, storm water systems, drainage improvements, roads, curbs, sidewalks, landscaping and parks, the costs of which may qualify as reimbursable costs. Pursuant to its agreements with the CAB (see Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>), the Company is obligated to finance this infrastructure. These public improvements are constructed pursuant to design standards specified by the Sky Ranch Districts and/or the CAB, and, after inspection and acceptance, are turned over to the applicable governmental entity to operate and maintain. As these public improvements are owned and operated on behalf of a governmental entity, they may qualify for reimbursement.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">Pursuant to the agreements with the CAB, the CAB is not required to make payments to the Company for any advances made by the Company or expenses incurred related to construction of public improvements unless and until the CAB and/or the Sky Ranch Districts issue bonds in an amount sufficient to reimburse the Company for all or a portion of the advances made and expenses incurred. Because the timing of the issuance and approval of any bonds is subject to considerable uncertainty, any potential reimbursable costs for the construction of public improvements, including construction support activities and project management fees, are initially capitalized in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories. </font>If the bonds have not been approved and issued prior to the sale of the lots serviced by the public improvements, the costs are expensed through <font style="font-style: italic;">Land development construction costs</font> when the lots are sold consistent with other construction related costs. If bonds ultimately are issued, upon receipt of reimbursements by the Company, the Company records the reimbursements received as <font style="font-style: italic;">Other income </font>to the extent that costs have previously been expensed and reduces <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> by any remaining reimbursables received. The Company submits specific costs for reimbursement to the CAB.<font style="font-style: italic;">&#160;</font>If reimbursable costs received exceed actual expenses incurred by the Company for the cost of the public improvements, they are recorded as <font style="font-style: italic;">other income </font>as received.</div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">All amounts owed under the &#8220;2018 FFAA&#8221; (as defined in Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>) bear interest at a rate of 6% per annum. Due to the uncertainty of collecting the interest (because payment is contingent on the issuance of bonds), interest income is not recognized on the amounts owed by the CAB until the bonds are issued. To date, the Company has deferred the recognition of $1,052,900 of interest income on advances made to the CAB.</div><div><br /></div><div style="text-align: justify; margin-left: 36pt;">On November 19, 2019, the CAB sold tax-exempt, fixed rate senior bonds in the aggregate principal amount of $11,435,000 and tax-exempt, fixed-rate subordinate bonds in the aggregate principal amount of $1,765,000 (collectively, the &#8220;Bonds&#8221;). Upon the issuance of the Bonds, the Company received $10.5 million as partial reimbursement for advances the Company made to the CAB pursuant to the 2018 FFAA to fund the construction of public improvements to the Sky Ranch property. Of the $10.5 million received by the Company, $6.3 million was recognized as <font style="font-style: italic;">Income from reimbursement of construction costs (related party)</font> in other income and the remaining $4.2 million partially reduced the remaining capitalized costs in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font>. As a result of the reimbursed costs, the margin from land development revenues is expected to increase to approximately 27%.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top;">(iii)</td><td style="width: auto; vertical-align: top; text-align: justify;"><div><u>Project management services</u> &#8211; On May 2, 2018, the Company entered into two Service Agreements for Project Management Services (the &#8220;Project Management Agreements&#8221;) with the CAB. Pursuant to the Project Management Agreements, the Company acts as the project manager and provides any and all services required to deliver the CAB-eligible improvements, including but not limited to CAB compliance; planning design and approvals; project administration; contractor agreements; and construction management and administration. The Company must submit to the CAB a monthly invoice, in a form acceptable to the CAB, detailing all project management activities during the period. The Company is responsible for all expenses it incurs in the performance of the Project Management Agreements and is not entitled to any reimbursement or compensation except as set forth in the Project Management Agreements, unless otherwise approved in advance by the CAB in writing. The CAB is subject to annual budget and appropriation procedures and does not intend to create a multiple-fiscal year direct or indirect debt or other financial obligation. The Company receives a project management fee of five percent (5%) of actual construction costs of CAB-eligible improvements. The project management fee qualifies as a reimbursable cost to the Company. The project management fee is based only on the actual costs of the improvements; thus, items such as fees, permits, review fees, consultant or other soft costs, and land acquisition or any other costs that are not directly related to the cost of construction of CAB-eligible improvements are not included in the calculation of the project management fee. Soft costs and other costs that are not directly related to the construction of CAB-eligible improvements are included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> and accounted for in the same manner as construction support activities as described below. Per the Project Management Agreements, no payment is required by the CAB with respect to project management fees unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables. Due to this contingency, the project management fees are being accrued to revenue with a corresponding allowance until the point in time when bonds are issued by the Sky Ranch Districts and/or the CAB and the CAB reimburses the Company for the public improvements. At that point, the portion of the project management fees repaid will be recognized as revenue. To date, the Company has accrued $1,371,600<font style="font-weight: bold;">&#160;</font>in project management services to the CAB.</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"><tr style="vertical-align: top;"><td style="width: 18pt;">&#160;</td><td style="vertical-align: top; width: 18pt;"><div style="text-align: justify;">(iv)</div></td><td style="align: left; vertical-align: top; width: auto;"><div style="text-align: justify;"><u>Construction support activities</u> &#8211; The Company performs certain construction activities at Sky Ranch. The activities performed include construction and maintenance of the grading erosion and sediment control best management practices and other construction-related services. These activities are invoiced upon completion and are included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> and subsequently expensed through <font style="font-style: italic;">Land development construction costs</font> unless or until bonds are issued by the Sky Ranch Districts (as defined in Note 6 &#8211; <font style="font-style: italic;">Related Party Transactions</font>) and/or the CAB and the CAB reimburses the Company for public improvements. Refer to section (ii) <font style="font-style: italic;">Reimbursable Costs for Public Improvements</font> for details on repayment of reimbursable costs. To date, the Company has invoiced the CAB $581,100 for construction support activities, which amount is included in <font style="font-style: italic;">Land development inventories</font>.</div></td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">Unpaid reimbursable costs the Company believes are recoverable from the CAB pursuant to the 2018 FFAA, are recorded to a Note Receivable from the CAB. Each reporting period, the Company performs an analysis on the collectability of the receivable from the CAB and the recoverability of the outstanding reimbursable costs to determine if the amounts should be expensed. The following table summarizes all reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">As of May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Costs incurred to date</div></td><td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Payments repaid by</div><div>CAB</div></td><td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Net costs incurred to date</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Public Improvements</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>25,431,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>10,505,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>14,926,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accrued interest</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,052,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,052,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Project management services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,371,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,371,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Construction support activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>581,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>581,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Total reimbursable costs</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>28,437,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>10,505,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>17,932,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify; margin-left: 36pt;">The Company expects to incur an additional $3.5 million through the end of the calendar year 2020 for construction costs related to public improvements to complete its initial 506 lots and expects to be reimbursed an additional $21.6 million. Pursuant to the Company's agreements with the CAB, no payment is required by the CAB with respect to reimbursable costs unless and until the CAB and/or the Sky Ranch Districts have funds or issue municipal bonds in an amount sufficient to reimburse the Company for all or a portion of advances provided or expenses incurred for reimbursables.</div><div><br /></div><div style="text-align: justify;">The Company evaluated disaggregation of revenue and has determined that no additional disaggregation of revenue is necessary.</div><div><br /></div><div style="text-align: justify;">Contract asset by segment is as follows:</div><div><br /></div><div style="text-align: justify;">The Company did not have a contract asset at May 31, 2020 and 2019 or August 31, 2019.</div><div><br /></div><div style="text-align: justify;">Changes in contract asset were as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of land development revenue contract asset</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,020,146</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development contract asset invoiced</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(1,020,146</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">Deferred revenue by segment is as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,526,155</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,991,535</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Oil and gas leases and water sales payment</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>2,467,649</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>1,067,348</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>4,993,804</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The current portion of deferred revenue for oil and gas leases and water sales payment as of May 31, 2020 and August 31, 2019,&#160; is $2,254,830 and $706,464, respectively. There were no water segment deferred revenues as of May 31, 2019 and August 31, 2019.</div><div><br /></div><div style="text-align: justify;">Changes in deferred revenue were as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>477,161</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Deferral of revenue</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>15,949,872</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>24,998,964</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of unearned revenue</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(16,014,951</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(20,417,242</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,993,804</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The recognition of unearned revenue was $11,503,523 and $11,955,989 from land development activities and $4,511,428 and $8,461,253 from oil and gas leases and water sales payments for the nine months ended May 31, 2020 and August 31, 2019, respectively.</div><div><br /></div><div style="text-align: justify;">Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (&#8220;contracted not recognized revenue&#8221;), which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. At May 31, 2020, the Company had outstanding open contracts for $12,957,000, which primarily relate to the 115 lots of the initial 506 lots at Sky Ranch that remain unsold. The Company expects to recognize approximately 98% of such revenue over the next 12 months.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Land Development Inventories</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Land Development Inventories</u></div><div><br /></div><div style="text-align: justify;">Land development inventories primarily include real estate held for development and sale, which the Company has begun developing and are stated at cost. Capitalized lot development costs at Sky Ranch are costs incurred to construct required infrastructure to produce finished lots at Sky Ranch that meet the Company&#8217;s capitalization criteria for lot improvements and are capitalized as incurred. The Company capitalizes certain legal, engineering, design, permitting, land acquisition, and construction costs related to the development of lots at Sky Ranch. The Company uses the specific identification method for purposes of accumulating land development costs and allocates costs to each lot to determine the cost basis for each lot sale. The Company records all land cost of sales when a lot is completed and sold on a lot-by-lot basis. Costs included in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> include common area costs that the Company funded through the CAB. The Company expects that such costs will be reimbursable by the CAB. The Company records future reimbursements as a reduction of reimbursable capitalized costs remaining in <font style="font-style: italic;">Land development</font> i<font style="font-style: italic;">nventories</font> once the CAB has the ability to reimburse the costs (i.e., once the Sky Ranch Districts and/or the CAB has issued bonds).</div><div><br /></div><div style="text-align: justify;">The Company measures land held for sale at the lower of the carrying value or net realizable value. In determining net realizable value, the Company primarily relies upon the most recent comparable sales prices. If recent sales prices are not available, the Company will consider several factors, including, but not limited to, current market conditions, nearby recent sales transactions and market analysis studies. If the net realizable value is lower than the current carrying value, the land is written down to its net realizable value.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_RoyaltyAndOtherObligationsPolicyTextBlock', window );">Royalty and Other Obligations</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Royalty and Other Obligations</u></div><div><br /></div><div style="text-align: justify;">Revenues from the sale of Export Water are shown gross of royalties payable to the Land Board. Revenues from the sale of water on the Lowry Range are invoiced directly by the Rangeview District, and a percentage of such collections are then paid to the Company by the Rangeview District. Water revenue from such sales are shown net of royalties paid to the Land Board and amounts retained by the Rangeview District.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeLeasesPolicyTextBlock', window );">Oil and Gas Lease Payments</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Oil and Gas Lease Payments</u></div><div><br /></div><div style="text-align: justify;">As described in Note 2 &#8211; <font style="font-style: italic;">Summary of Significant Accounting Policies</font> in Part II, Item 8 of the 2019 Annual Report, the Company entered into a Paid-Up Oil and Gas Lease (the &#8220;Sky Ranch O&amp;G Lease&#8221;) and a Surface Use and Damage Agreement that were subsequently purchased by a wholly owned subsidiary of ConocoPhillips Company and recently acquired by Crestone Peak Resources. Six wells have been drilled within the Company&#8217;s mineral interest and placed into service (four new wells beginning in fiscal 2020) and are producing oil and gas and accruing royalties to the Company. During the three months ended May 31, 2020 and 2019, the Company received $74,100 and $37,300 net of taxes, respectively, in royalties attributable to these wells. During the nine months ended May 31, 2020 and 2019, the Company received $612,700 and $113,100 net of taxes, respectively, in royalties attributable to these wells. The Company classifies income from oil and gas lease and royalty payments as <font style="font-style: italic;">Other income</font> in the statement of operations and comprehensive income as the Company does not consider these arrangements to be a primary operating business activity.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock', window );">Deferred Revenue</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Deferred Revenue</u></div><div><br /></div><div style="text-align: justify;">In July 2019, the Company received an up-front payment of $573,700 from an Agreement on Locations of Oil and Gas Operations&#160; (the &#8220;OGOA&#8221;) for a pad site covering approximately 16 acres with the operator of the Sky Ranch O&amp;G Lease, which will be recognized as income on a straight-line basis over three years. If after three years the operator has not spud at least one well on the OGOA, the operator may extend the right to the OGOA one additional year by paying the Company $75,000. The operator may only extend the OGOA for two additional years for a total of five years. The Company recognizes the up-front payments on a straight-line basis over the terms of the respective agreements. During the three and nine months ended May 31, 2020, the Company recognized $47,800 and $143,400 of income, respectively, related to the up-front payments received pursuant to the OGOA. No revenue was recognized for the three or nine months ended May 31, 2019 related to the up-front payments received pursuant to the OGOA. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $404,000 and $547,500, respectively, related to the OGOA.</div><div><br /></div><div style="text-align: justify;">In September 2017, the Company entered into a Paid-Up Oil and Gas Lease with Bison Oil and Gas, LLP (the &#8220;Bison Lease&#8221;). Pursuant to the Bison Lease, the Company received an up-front payment of $167,200 in October 2017, which will be recognized as income on a straight-line basis over the three year term of the lease. The Company recognized lease income of $13,900 during the three months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. The Company recognized lease income of $41,800 during the nine months ended May 31, 2020 and 2019 related to the up-front payment received pursuant to the Bison Lease. As of May 31, 2020 and August 31, 2019, the Company had deferred revenue of $18,600 and $60,400, respectively, related to the Bison Lease that will be recognized as income ratably through September 2020.</div><div><br /></div><div style="text-align: justify;">As of May 31, 2020, the Company has also billed and received payments of $2.0 million from one of its industrial water customers to reserve first priority water for O&amp;G operations for defined periods through December 2020. As the customer uses the forecasted volumes each month, the Company will recognize revenue based on the volumes used. The customer may take such volumes up to one year from invoice date. If the customer does not take the forecasted volumes in the anticipated period, such volumes are forfeited by the customer. At that time, any payments received for unused volumes will be recognized as revenue. As of May 31, 2020, the Company had deferred revenue of $2.0 million as a result of these advanced water purchase payments.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Long-Lived Assets</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Long-Lived Assets</u></div><div><br /></div><div style="text-align: justify;">The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the eventual use of the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock', window );">Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets</u></div><div><br /></div><div style="text-align: justify;">Costs to construct water and wastewater systems that meet the Company&#8217;s capitalization criteria are capitalized as incurred, including any interest, and depreciated on a straight-line basis over their estimated useful lives of up to 30 years. The Company capitalizes design and construction costs related to construction activities, and it capitalizes certain legal, engineering and permitting costs relating to the adjudication and improvement of its water assets. The Company depletes its groundwater assets that are being utilized on the basis of units produced (i.e., thousands of gallons sold) divided by the total volume of water adjudicated in the water decrees.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-Based Compensation</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Share-Based Compensation</u></div><div><br /></div><div style="text-align: justify;">The Company maintains an equity incentive plan for the benefit of its employees and non-employee directors. The Company records share-based compensation costs as expense over the applicable vesting period of the stock award using the straight-line method. The compensation costs to be expensed are measured at the grant date based on the fair value of the award. The Company has adopted the alternative transition method for calculating the tax effects of share-based compensation, which allows for a simplified method of calculating the tax effects of employee share-based compensation. The impact on the income tax provision for the granting and exercise of stock options during the three and nine months ended May 31, 2020 was a deferred tax benefit of $18,700 and a deferred tax benefit of $39,000, respectively. Because the Company had a full valuation allowance on its deferred tax assets as of November 30, 2018, there was no effect on the tax provision during the period. The Company recognized $81,900 of share-based compensation expense and $96,100 of share-based compensation expense during the three months ended May 31, 2020 and 2019, respectively. The Company recognized $435,100 of share-based compensation expense, which included unrestricted stock grants, and $257,800 of share-based compensation expense during the nine months ended May 31, 2020 and 2019, respectively.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Income Taxes</u></div><div><br /></div><div style="text-align: justify;">The Company uses a &#8220;more-likely-than-not&#8221; threshold for the recognition and de-recognition of tax positions, including any potential interest and penalties relating to tax positions taken by the Company. The Company did not have any significant unrecognized tax benefits as of May 31, 2020.</div><div><br /></div><div style="text-align: justify;">As a result of H.R.1, commonly known as the Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;), signed into law on December 22, 2017, the Company has a $282,000 alternative minimum tax (&#8220;AMT&#8221;) deferred tax asset for which it did not have a valuation allowance as of May 31, 2020 and August 31, 2019.&#160; The Company expects to receive the AMT as a refund in future years.&#160; Most, if not all, of this credit will be refundable with the filing of the 2018 (fiscal year ended 2019) through 2019 (fiscal year ending 2020) tax returns, subject to limitations of Internal Revenue Code Section 382 (arises with ownership changes) and the sequestration limitation of the Balanced Budget Act of 1997.</div><div><br /></div><div style="text-align: justify; color: #000000;">The Company&#8217;s effective tax rate was 24.8% and 24.6% for the three and nine months ended May 31, 2020, respectively. The effective tax rate was 0% for the three and nine months ended May 31, 2019 due to the valuation allowance the Company maintained on its net deferred tax asset.</div><div><br /></div><div style="text-align: justify;">The Company records deferred tax assets and liabilities for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying consolidated balance sheets, as well as operating loss and tax credit carry-forwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled.</div><div><br /></div><div style="text-align: justify; color: #000000;">The Company maintained a valuation allowance on the net deferred tax asset other than AMT credits as of May 31, 2019, as the Company had determined it was more likely than not that the Company would not realize its deferred tax assets as of May 31, 2019. Such assets primarily consisted of operating loss carryforwards. The Company assessed the realizability of its deferred tax asset using all available evidence. In particular, the Company considered both historical results and projections of profitability for the reasonably foreseeable future periods. The Company is required to reassess its conclusions regarding the realization of its deferred tax assets at each financial reporting date. As a result of the evaluation, the Company concluded that all of the valuation allowance was no longer necessary as of August 31, 2019 and released the valuation allowance.</div><div><br /></div><div style="text-align: justify;">The Company files income tax returns with the Internal Revenue Service and the State of Colorado. The tax years that remain subject to examination are fiscal year 2015 through fiscal year 2019.</div><div><br /></div><div style="text-align: justify;">The Company&#8217;s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. At May 31, 2020, the Company did not have any accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense recognized during the nine months ended May 31, 2020 and 2019.</div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings per Common Share</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Earnings per Common Share</u></div><div><br /></div><div style="text-align: justify;">Earnings per common share is computed by dividing net income by the weighted average number of shares outstanding during each period presented. For the three months ended May 31, 2020 and 2019, respectively, options to acquire common stock of 200,056 and 201,644 common share equivalents were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options of 229,142 and 206,934 common share equivalents as of the nine months ended May 31, 2020 and 2019, respectively, were included in the calculation of income per common share as dilutive common stock equivalents using the treasury stock method. Common stock options aggregating 180,000 and 0 common share equivalents as of the three and nine months ended May 31, 2020, respectively, have been excluded from the calculation of income per common share as their effect is anti-dilutive. Common stock options aggregating 50,000 common share equivalents as of the three and nine months ended May 31, 2019, have been excluded from the calculation of income per common share as their effect is anti-dilutive.</div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recently Issued Accounting Pronouncements</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;"><u>Recently Issued Accounting Pronouncements</u></div><div><br /></div><div style="text-align: justify;">The Company continually assesses new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company&#8217;s financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and to ensure that there are proper controls in place to ascertain that the Company&#8217;s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:</div><div><br /></div><div style="text-align: justify;">In February 2016, the Financial Accounting Standards Board (the &#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2016-02, <font style="font-style: italic;">Leases (Topic 842). </font>ASU 2016-02<font style="font-style: italic;">&#160;</font>provides guidance on the recognition, measurement, presentation and disclosure of leases. The new standard supersedes the present GAAP standard on leases and requires substantially all leases to be reported on the balance sheet as right-of-use assets and lease obligations. This standard is effective for fiscal years beginning after December 15, 2018. The Company adopted the standard effective September 1, 2019, and recorded a right-of-use asset of approximately $258,900 and a lease obligation liability of approximately $252,300.</div><div><br /></div><div style="text-align: justify;">In June 2016, the FASB issued ASU No. 2016-13, <font style="font-style: italic;">Financial Instruments &#8211; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments </font> (&#8220;ASU 2016-13&#8221;). Among other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Companies will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 was set to be effective for public companies on January 1, 2020; however, the FASB delayed the effective date to January 1, 2023 for smaller reporting companies. The Company <font style="color: #212529;">continues to monitor economic implications of the COVID-19 pandemic; however, based on current market conditions, we do not expect the impact of ASU 2016-13 to be material upon adoption.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for capitalized costs of water and wastewater systems and depletion and depreciation of water assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for concentration of credit risk and fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ConcentrationOfCreditRiskAndFairValueOfFinancialInstrumentsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContractAssetPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for contract asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContractAssetPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for deferred revenue from contract with customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_DeferredRevenueFromContractWithCustomerPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LandDevelopmentInventoriesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of land development inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LandDevelopmentInventoriesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_RoyaltyAndOtherObligationsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for royalty and other obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_RoyaltyAndOtherObligationsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BasisOfAccountingPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4273-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerSharePolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 05<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226317&amp;loc=d3e202-110218<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.CC)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011434&amp;loc=d3e125687-122742<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e32247-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32847-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=116657188&amp;loc=SL116659661-227067<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e32280-109318<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=116847112&amp;loc=d3e4556-108314<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=116847112&amp;loc=d3e4492-108314<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=116846552&amp;loc=d3e543-108305<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -URI http://asc.fasb.org/topic&amp;trid=2126998<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for investment in financial asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeLeasesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for leasing arrangement entered into by lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918666-209980<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeLeasesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PriorPeriodReclassificationAdjustmentDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for reclassification affecting comparability of financial statement. Excludes amendment to accounting standards, other change in accounting principle, and correction of error.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6359566&amp;loc=d3e326-107755<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PriorPeriodReclassificationAdjustmentDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue from contract with customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130561-203045<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130566-203045<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130563-203045<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -URI http://asc.fasb.org/topic&amp;trid=49130388<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130566-203045<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130563-203045<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18823-107790<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130566-203045<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130564-203045<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130566-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5047-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UseOfEstimates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6191-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6161-108592<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6143-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e5967-108592<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6061-108592<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6132-108592<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e5967-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UseOfEstimates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156602152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>PRESENTATION OF INTERIM INFORMATION [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ScheduleOfReimbursableCostsTableTextBlock', window );">Reimbursable Costs</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div>The following table summarizes all reimbursable costs incurred to date, payments made from the CAB and any outstanding reimbursable amounts</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">As of May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px; width: 54%;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Costs incurred to date</div></td><td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Payments repaid by</div><div>CAB</div></td><td colspan="1" nowrap="nowrap" style="text-align: center; vertical-align: top; padding-bottom: 2px; width: 1%;">&#160;</td><td colspan="1" style="vertical-align: top; padding-bottom: 2px; text-align: center; width: 1%;">&#160;</td><td colspan="2" nowrap="nowrap" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><div>Net costs incurred to date</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Public Improvements</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>25,431,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>10,505,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>14,926,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accrued interest</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,052,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,052,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Project management services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,371,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,371,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Construction support activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>581,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>581,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 54%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Total reimbursable costs</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>28,437,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>10,505,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>17,932,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock', window );">Changes in Contract Asset and Deferred Revenue</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify;">The Company did not have a contract asset at May 31, 2020 and 2019 or August 31, 2019.</div><div><br /></div><div style="text-align: justify;">Changes in contract asset were as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of land development revenue contract asset</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,020,146</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development contract asset invoiced</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(1,020,146</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">Deferred revenue by segment is as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,526,155</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,991,535</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Oil and gas leases and water sales payment</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>2,467,649</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>1,067,348</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>4,993,804</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The current portion of deferred revenue for oil and gas leases and water sales payment as of May 31, 2020 and August 31, 2019,&#160; is $2,254,830 and $706,464, respectively. There were no water segment deferred revenues as of May 31, 2019 and August 31, 2019.</div><div><br /></div><div style="text-align: justify;">Changes in deferred revenue were as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, beginning of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>477,161</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Deferral of revenue</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>15,949,872</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>24,998,964</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Recognition of unearned revenue</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(16,014,951</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);"><div>(20,417,242</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance, end of period</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,993,804</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>5,058,883</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ScheduleOfReimbursableCostsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of reimbursable costs incurred to date, payments made outstanding reimbursable amounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ScheduleOfReimbursableCostsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130551-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R20.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156777832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>FAIR VALUE MEASUREMENTS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock', window );">Assets and Liabilities Measured at Fair Value on a Recurring Basis</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify;">The following table provides information on the assets and liabilities measured at fair value on a recurring basis as of August 31, 2019:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="11" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Fair Value Measurement Using:</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><div style="text-align: center; font-weight: bold;"><br /></div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Fair Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160; <div style="text-align: center; font-weight: bold;">Cost /</div><div style="text-align: center; font-weight: bold;">Other Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Quoted Prices in</div><div style="text-align: center; font-weight: bold;">Active Markets</div><div style="text-align: center; font-weight: bold;">for Identical</div><div style="text-align: center; font-weight: bold;">Assets</div><div style="text-align: center; font-weight: bold;">(Level 1)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Significant</div><div style="text-align: center; font-weight: bold;">Other</div><div style="text-align: center; font-weight: bold;">Observable Inputs</div><div style="text-align: center; font-weight: bold;">(Level 2)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160; <div style="text-align: center; font-weight: bold;">Significant</div><div style="text-align: center; font-weight: bold;">Unobservable</div><div style="text-align: center; font-weight: bold;">Inputs</div><div style="text-align: center; font-weight: bold;">(Level 3)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160; <div style="text-align: center; font-weight: bold;">Accumulated</div><div style="text-align: center; font-weight: bold;">Unrealized</div><div style="text-align: center; font-weight: bold;">Gains and</div><div style="text-align: center; font-weight: bold;">(Losses)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 2px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">U.S. Treasury debt securities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>4,992,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>3,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; padding-bottom: 4px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,992,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>4,996,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>3,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331228667272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>WATER AND LAND ASSETS (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>WATER AND LAND ASSETS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTextBlock', window );">Investments in Water and Water Systems</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify;">The Company&#8217;s Investments in Water and Water Systems consist of the following costs and accumulated depreciation and depletion at May 31, 2020 and August 31, 2019:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Costs</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Accumulated</div><div style="text-align: center; font-weight: bold;">Depreciation</div><div style="text-align: center; font-weight: bold;">and Depletion</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Costs</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Accumulated</div><div style="text-align: center; font-weight: bold;">Depreciation</div><div style="text-align: center; font-weight: bold;">and Depletion</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Rangeview Water Supply</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>14,827,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(15,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>14,823,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(14,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch water rights and other costs</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,486,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(926,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,371,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(757,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Fairgrounds water and water system</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,899,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,216,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,899,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,151,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Rangeview water system</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>15,905,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(648,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>5,617,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(372,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Water Supply &#8211; Other</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>7,542,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,036,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,758,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(860,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Wild Pointe service rights</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,631,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(677,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,631,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(489,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sky Ranch pipeline</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>5,727,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(554,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>5,723,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(411,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Lost Creek water supply</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>3,372,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>3,324,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Construction in progress</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>1,076,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>8,176,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Totals</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>60,469,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(5,075,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>54,327,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(4,056,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Net investments in water and water systems</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>55,393,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>50,270,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156762664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>LONG-TERM OBLIGATIONS AND OPERATING LEASE (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LongTermObligationsAndOperatingLeaseAbstract', window );"><strong>LONG-TERM OBLIGATIONS AND OPERATING LEASE [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtTableTextBlock', window );">Remaining Third Party Obligation</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div>As a result of the acquisitions and consideration from cumulative sales of Export Water as detailed in the table below, the remaining potential third-party obligation at May 31, 2020, is less than $1.0 million.</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Export</div><div style="text-align: center; font-weight: bold;">Water</div><div style="text-align: center; font-weight: bold;">Proceeds</div><div style="text-align: center; font-weight: bold;">Received</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Initial Export</div><div style="text-align: center; font-weight: bold;">Water</div><div style="text-align: center; font-weight: bold;">Proceeds to</div><div style="text-align: center; font-weight: bold;">Pure Cycle</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Total</div><div style="text-align: center; font-weight: bold;">Potential</div><div style="text-align: center; font-weight: bold;">Third-Party</div><div style="text-align: center; font-weight: bold;">Obligation</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Participating</div><div style="text-align: center; font-weight: bold;">Interests</div><div style="text-align: center; font-weight: bold;">Liability</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Contingency</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Original balances</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>218,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>31,807,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>11,090,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>20,717,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;">Activity from inception until August 31, 2019:</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Acquisitions</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>28,042,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(28,042,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(9,790,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(18,252,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Relinquishment</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>2,386,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(2,386,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(832,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(1,554,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Option payments - Sky Ranch and The Hills at Sky Ranch</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>110,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(42,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(68,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(23,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(44,300</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Arapahoe County tap fees</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>533,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(373,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(159,900</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(55,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(104,100</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Export Water sale payments</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>903,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(740,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(163,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(56,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(106,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance at August 31, 2019</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,547,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>29,491,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>987,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>332,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>655,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;">Activity for the nine months ended May 31, 2020:</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Export Water sale payments</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>101,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(89,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(12,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(4,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>(7,800</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 40%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Balance at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>1,648,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>29,402,400</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>975,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>328,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>647,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock', window );">ROU Lease Assets and Lease Liabilities</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="color: rgb(0, 0, 0); text-align: justify;">ROU lease assets and lease liabilities for the Company&#8217;s operating leases were recorded in the consolidated balance sheet as follows:</div><div><font style="color: #000000;"></font><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">As of May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Operating leases - right of use assets</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>213,252</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Accounts payable and accrued liabilities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>70,191</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Lease obligations - operating leases, net of current portion</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>140,318</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Total lease liability</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>210,509</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Weighted average remaining lease term (in years)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2.7</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; width: 88%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Weighted average discount rate</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>6.0</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>%</div></td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of lessee's operating lease assets and liabilities recognized in the statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LesseeOperatingLeaseAssetsAndLiabilitiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LongTermObligationsAndOperatingLeaseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LongTermObligationsAndOperatingLeaseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfDebtTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfDebtTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331228735704">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>SHAREHOLDERS' EQUITY [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Stock Option Activity</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify;">The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2020:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Number</div><div style="text-align: center; font-weight: bold;">of Options</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Weighted Average</div><div style="text-align: center; font-weight: bold;">Exercise Price</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Weighted Average</div><div style="text-align: center; font-weight: bold;">Remaining</div><div style="text-align: center; font-weight: bold;">Contractual Term</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Approximate</div><div style="text-align: center; font-weight: bold;">Aggregate</div><div style="text-align: center; font-weight: bold;">Intrinsic Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Outstanding at August 31, 2019</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>555,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6.33</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6.27</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,527,590</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Granted</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>130,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10.41</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Exercised</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(15,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2.67</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Forfeited or expired</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Outstanding at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>670,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>7.20</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>6.37</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>2,066,420</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Options exercisable at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>490,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>6.07</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>5.42</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" rowspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>2,023,755</div></td><td colspan="1" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock', window );">Non-Vested Options</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify;">The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as of and for the nine months ended May 31, 2020:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Number</div><div style="text-align: center; font-weight: bold;">of Options</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Weighted Average</div><div style="text-align: center; font-weight: bold;">Grant Date</div><div style="text-align: center; font-weight: bold;">Fair Value</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Non-vested options outstanding at August 31, 2019</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>152,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4.03</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Granted</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>130,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>4.19</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Vested</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(102,500</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3.75</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Forfeited</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Non-vested options outstanding at May 31, 2020</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>180,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF;"><div>4.31</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the changes in outstanding nonvested shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331230621688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SEGMENT INFORMATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>SEGMENT INFORMATION [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock', window );">Segment Information</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify;">The following table summarizes wholesale water and wastewater services and land development revenue information by segment:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td colspan="5" nowrap="nowrap" rowspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Three Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">Nine Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><br /></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="3" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,153,951</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,476,570</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,326,207</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,851,961</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>696,170</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>2,708,093</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>11,503,523</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>6,035,670</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total revenues</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>1,850,121</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>5,184,663</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>15,829,730</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>10,887,631</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The following table summarizes wholesale water and wastewater services and land development pretax income by segment:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Three Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">Nine Months Ended</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>603,158</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,802,340</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,621,356</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,222,922</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>140,390</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>120,021</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,342,810</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>319,676</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Corporate</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(707,273</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(660,990</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(1,925,548</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>(1,743,280</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total pretax income (loss)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>36,275</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>1,261,371</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>8,038,618</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>1,799,318</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table><div><br /></div><div style="text-align: justify;">The following table summarizes total assets by segment.&#160; The assets consist of water rights and water and wastewater systems in the Company&#8217;s wholesale water and wastewater services segment. The assets consist of land, land development inventories and deposits in the Company&#8217;s land development segment.&#160; The Company&#8217;s other assets primarily consist of cash and cash equivalents, equipment, mineral rights, related party notes receivables and a deferred tax asset.</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Wholesale water and wastewater services</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>56,244,054</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>51,588,079</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land development activities</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>9,498,852</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>16,866,542</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Corporate</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>22,466,167</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div>15,266,783</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total assets</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>88,209,073</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div>83,721,404</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8813-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331229016632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Deferred Tax Assets</a></td>
<td class="text"><div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div>Significant components of the Company&#8217;s deferred tax assets as of May 31, 2020 and August 31, 2019 are as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="6" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">For the Periods Ended:</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">May 31, 2020</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-weight: bold;">August 31, 2019</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom;"><div style="text-indent: -9pt; margin-left: 9pt;">Deferred tax assets (liabilities):</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net operating loss carryforwards</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>609,439</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Accrued compensation</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>&#8212;</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>113,559</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Deferred revenues</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>104,219</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>149,895</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Depreciation and depletion</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(26,120</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>(46,408</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Non-qualified stock options</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>449,639</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>410,633</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Other</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>45,452</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div>46,128</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net deferred tax asset</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>573,190</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div>1,283,246</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156712200">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, CARES Act (Details) - PPP Loan [Member] - USD ($)<br></strong></div></th>
<th class="th"><div>May 13, 2020</div></th>
<th class="th"><div>Apr. 17, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtCurrentAbstract', window );"><strong>Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 390,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfNotesPayable', window );">Repayment of note payable including interest</a></td>
<td class="nump">$ 390,278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for a borrowing supported by a written promise to pay an obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=pcyo_PaycheckProtectionProgramLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=pcyo_PaycheckProtectionProgramLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331228881032">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Land Development Inventories (Details)<br></strong></div></th>
<th class="th">
<div>May 31, 2020 </div>
<div>a</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryGrossAbstract', window );"><strong>Land Development Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfLand', window );">Area of land (in acres)</a></td>
<td class="nump">930<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of land held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryGrossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryGrossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331151291624">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Investments (Details)<br></strong></div></th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsAbstract', window );"><strong>Investments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtSecurities', window );">Investments in securities</a></td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in debt security measured at amortized cost (held-to-maturity), investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) and investment in debt security measured at fair value with change in fair value recognized in net income (trading).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331144786344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Revenue Recognition (Details)<br> gal in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Nov. 19, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>a </div>
<div>gal</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($) </div>
<div>HomeBuilders </div>
<div>Lot </div>
<div>gal</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>a </div>
<div>BusinessLine </div>
<div>Source </div>
<div>HomeBuilders </div>
<div>Lot </div>
<div>Agreement </div>
<div>gal</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($) </div>
<div>HomeBuilders </div>
<div>Lot </div>
<div>gal</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfBusinessLines', window );">Number of business lines | BusinessLine</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfRevenueSources', window );">Number of revenue sources | Source</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,850,121<span></span>
</td>
<td class="nump">$ 5,184,663<span></span>
</td>
<td class="nump">$ 15,829,730<span></span>
</td>
<td class="nump">$ 10,887,631<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityCurrent', window );">Deferred revenues, current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,526,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,526,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,991,535<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfLand', window );">Area of land (in acres) | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">930<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">930<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfHomeBuilders', window );">Number of home builders | HomeBuilders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Contract revenues recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,014,951<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,417,242<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_DeferredInterestIncome', window );">Deferred interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,052,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,052,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt', window );">Net proceeds from sale of bonds</a></td>
<td class="nump">$ 10,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories', window );">Net proceeds used to reduce remaining capital expenses in inventories</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursementOfConstructionCostsRelatedParty', window );">Reimbursement of construction costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 6,275,500<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts', window );">Percentage of expected increase in revenues, reimbursed costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConstructionSupportAmountInvoiced', window );">Construction support amount invoiced</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 581,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember', window );">Senior Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Aggregate principal amount of bonds</a></td>
<td class="nump">11,435,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorSubordinatedNotesMember', window );">Subordinate Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Aggregate principal amount of bonds</a></td>
<td class="nump">$ 1,765,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=pcyo_FacilitiesFundingAndAcquisitionAgreementMember', window );">Facilities Funding and Acquisition Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageMember', window );">Metered Water Usage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_WaterDeliveredToCustomers', window );">Water delivered to customers | gal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.2<span></span>
</td>
<td class="nump">96.9<span></span>
</td>
<td class="nump">32.4<span></span>
</td>
<td class="nump">232.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PercentageOfWaterUsedForOilAndGasExploration', window );">Percentage of water used for oil and gas exploration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">93.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">85.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 97,747<span></span>
</td>
<td class="nump">$ 39,567<span></span>
</td>
<td class="nump">$ 237,952<span></span>
</td>
<td class="nump">$ 157,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember', window );">Water Tap Fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">852,800<span></span>
</td>
<td class="nump">929,400<span></span>
</td>
<td class="nump">3,200,000<span></span>
</td>
<td class="nump">1,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_WastewaterTapFeeMember', window );">Wastewater Tap Fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">152,100<span></span>
</td>
<td class="nump">153,800<span></span>
</td>
<td class="nump">602,900<span></span>
</td>
<td class="nump">256,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_SpecialFacilityFundingRecognizedMember', window );">Special Facility Funding Recognized [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_ConsultingFeesMember', window );">Consulting Fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,800<span></span>
</td>
<td class="nump">37,900<span></span>
</td>
<td class="nump">104,000<span></span>
</td>
<td class="nump">148,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_LotSalesMember', window );">Lot Sales [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">696,170<span></span>
</td>
<td class="nump">2,708,093<span></span>
</td>
<td class="nump">11,503,523<span></span>
</td>
<td class="nump">6,035,670<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_LotSalesFirstFormatMember', window );">Lot Sales - Agreement with Purchaser [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 1,770,000<span></span>
</td>
<td class="nump">$ 2,836,700<span></span>
</td>
<td class="nump">$ 2,070,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfHomeBuilders', window );">Number of home builders | HomeBuilders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfFinishedLotsSold', window );">Number of finished lots sold | Lot</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="nump">41<span></span>
</td>
<td class="nump">29<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_LotSalesSecondFormatMember', window );">Lot Sales - Agreement with Builders [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">696,200<span></span>
</td>
<td class="nump">$ 938,100<span></span>
</td>
<td class="nump">$ 8,666,800<span></span>
</td>
<td class="nump">$ 3,965,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityCurrent', window );">Deferred revenues, current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,526,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,526,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromCustomersForProgressPayments', window );">Proceeds from sale of lots</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfHomeBuilders', window );">Number of home builders | HomeBuilders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfPlattedLotsSold', window );">Number of platted lots sold | Lot</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">293<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfFinishedLotsSold', window );">Number of finished lots sold | Lot</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">293<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Contract revenues recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_LotSalesSecondFormatMember', window );">Lot Sales - Agreement with Builders [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExpectedDeliveryPeriodForLotsSold', window );">Expected delivery period for lots sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_ProjectManagementServicesMember', window );">Project Management Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfServiceAgreementsProjects', window );">Number of service agreements | Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyManagementFeePercentFee', window );">Project management fee percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ProjectManagementServicesAccruedReimbursableAmount', window );">Project management services - accrued reimbursable amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,371,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,371,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ConstructionSupportAmountInvoiced">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of construction support amount invoiced to the vendor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ConstructionSupportAmountInvoiced</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_DeferredInterestIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on advances made to the Sky Ranch Community Authority Board (the "CAB") that has been deferred.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_DeferredInterestIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExpectedDeliveryPeriodForLotsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected delivery period for lots sold.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExpectedDeliveryPeriodForLotsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LandAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LandAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net proceeds utilized to reduce the remaining capitalized expenses in inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NetProceedsUsedToReducedRemainingCapitalizedExpensesInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfBusinessLines">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of business lines in operation by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfBusinessLines</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfFinishedLotsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of finished lots sold during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfFinishedLotsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfHomeBuilders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to number of home builders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfHomeBuilders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfPlattedLotsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of platted lots sold during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfPlattedLotsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfRevenueSources">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of revenue sources from where company generates revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfRevenueSources</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfServiceAgreementsProjects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of service agreements for project management services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfServiceAgreementsProjects</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of expected increase in revenues as a results from reimbursed of construction costs, margin from land and development.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PercentageOfExpectedIncreaseInRevenuesReimbursedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PercentageOfWaterUsedForOilAndGasExploration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of water used for oil and gas exploration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PercentageOfWaterUsedForOilAndGasExploration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ProjectManagementServicesAccruedReimbursableAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Project management services accrued reimbursable amount included in inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ProjectManagementServicesAccruedReimbursableAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ReimbursementOfConstructionCostsRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognized from a related party for the reimbursement of construction costs in excess of actual expenses incurred by the Company for the cost of public improvements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ReimbursementOfConstructionCostsRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_WaterDeliveredToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Water delivered to customers during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_WaterDeliveredToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:volumeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of land held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130531-203044<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130532-203044<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityRevenueRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisaggregationOfRevenueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisaggregationOfRevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromCustomersForProgressPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received from customers as progress payments on projects that have been partially completed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromCustomersForProgressPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from amounts received from issuance of long-term tax exempt debt that is wholly or partially secured by collateral.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfSecuredTaxExemptDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyManagementFeePercentFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage charged for managing real estate properties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyManagementFeePercentFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130543-203045<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130545-203045<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 924<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 11.L)<br> -URI http://asc.fasb.org/extlink&amp;oid=6472922&amp;loc=d3e499488-122856<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorSubordinatedNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorSubordinatedNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=pcyo_FacilitiesFundingAndAcquisitionAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=pcyo_FacilitiesFundingAndAcquisitionAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_MeteredWaterUsageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_WaterTapFeesRecognizedExcludingWastewaterTapFeeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_WastewaterTapFeeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_WastewaterTapFeeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_SpecialFacilityFundingRecognizedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_SpecialFacilityFundingRecognizedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_ConsultingFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_ConsultingFeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_LotSalesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_LotSalesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_LotSalesFirstFormatMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_LotSalesFirstFormatMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_LotSalesSecondFormatMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_LotSalesSecondFormatMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_ProjectManagementServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_ProjectManagementServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331152672360">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Reimbursable Costs Incurred to Date (Details)<br></strong></div></th>
<th class="th">
<div>Aug. 31, 2020 </div>
<div>USD ($) </div>
<div>Lot</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostsNetAbstract', window );"><strong>Reimbursable Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostGross', window );">Costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,437,100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PaymentsRepaidByCommunityAuthorityBoard', window );">Payments repaid by CAB</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,505,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostNet', window );">Net costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,932,100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementScenarioAxis=srt_ScenarioForecastMember', window );">Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostsNetAbstract', window );"><strong>Reimbursable Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostGross', window );">Costs incurred to date</a></td>
<td class="nump">$ 21,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_PublicImprovementsMember', window );">Public Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostsNetAbstract', window );"><strong>Reimbursable Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostGross', window );">Costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,431,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PaymentsRepaidByCommunityAuthorityBoard', window );">Payments repaid by CAB</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,505,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostNet', window );">Net costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,926,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_PublicImprovementsMember', window );">Public Improvements [Member] | Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostsNetAbstract', window );"><strong>Reimbursable Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostGross', window );">Costs incurred to date</a></td>
<td class="nump">$ 3,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of initial lots | Lot</a></td>
<td class="nump">506<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_AccruedInterestMember', window );">Accrued Interest [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostsNetAbstract', window );"><strong>Reimbursable Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostGross', window );">Costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,052,900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PaymentsRepaidByCommunityAuthorityBoard', window );">Payments repaid by CAB</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostNet', window );">Net costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,052,900<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_ProjectManagementServicesMember', window );">Project Management Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostsNetAbstract', window );"><strong>Reimbursable Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostGross', window );">Costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,371,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PaymentsRepaidByCommunityAuthorityBoard', window );">Payments repaid by CAB</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostNet', window );">Net costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,371,600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_ConstructionSupportActivitiesMember', window );">Construction Support Activities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostsNetAbstract', window );"><strong>Reimbursable Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostGross', window );">Costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">581,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PaymentsRepaidByCommunityAuthorityBoard', window );">Payments repaid by CAB</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ReimbursableCostNet', window );">Net costs incurred to date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 581,100<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PaymentsRepaidByCommunityAuthorityBoard">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payment repaid by authority board.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PaymentsRepaidByCommunityAuthorityBoard</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ReimbursableCostGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost associated with reimbursable income gross. This occurs when a services entity incurs expenses on behalf of the client and passes through the cost of reimbursable expenses to a client.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ReimbursableCostGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ReimbursableCostNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost associated with reimbursable income net. This occurs when a services entity incurs expenses on behalf of the client and passes through the cost of reimbursable expenses to a client.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ReimbursableCostNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ReimbursableCostsNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ReimbursableCostsNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfRealEstateProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of real estate properties owned as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfRealEstateProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementScenarioAxis=srt_ScenarioForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementScenarioAxis=srt_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_PublicImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_PublicImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_AccruedInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_AccruedInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_ProjectManagementServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_ProjectManagementServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_ConstructionSupportActivitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_ConstructionSupportActivitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149907416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Changes in Contract Asset and Deferred Revenue (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>Lot</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInContractAssetAbstract', window );"><strong>Changes in Contract Asset [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerAssetNetCurrent', window );">Balance, beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContractWithCustomerAssetRecognitionOfContractAsset', window );">Recognition of land development revenue contract asset</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,020,146<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerAssetReclassifiedToReceivable', window );">Land development contract asset invoiced</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(1,020,146)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerAssetNetCurrent', window );">Balance, end of period</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInDeferredRevenueAbstract', window );"><strong>Changes in Deferred Revenue [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Balance, beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,058,883<span></span>
</td>
<td class="nump">477,161<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContractWithCustomerDeferralOfRevenue', window );">Deferral of revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,949,872<span></span>
</td>
<td class="nump">24,998,964<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Recognition of unearned revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(16,014,951)<span></span>
</td>
<td class="num">(20,417,242)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Balance, end of period</a></td>
<td class="nump">5,058,883<span></span>
</td>
<td class="nump">4,993,804<span></span>
</td>
<td class="nump">5,058,883<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueLeasesCurrent', window );">Current portion of deferred revenue</a></td>
<td class="nump">706,464<span></span>
</td>
<td class="nump">2,254,830<span></span>
</td>
<td class="nump">706,464<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember', window );">Sky Ranch [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInDeferredRevenueAbstract', window );"><strong>Changes in Deferred Revenue [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Balance, end of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuePerformanceObligationAbstract', window );"><strong>Revenue, Performance Obligation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRemainingPerformanceObligation', window );">Remaining performance obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,957,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfUnsoldRealEstateProperties', window );">Number of unsold lots | Lot</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of initial lots | Lot</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">506<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRemainingPerformanceObligationPercentage', window );">Remaining performance obligation expected to be recognized in the next 12 months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember', window );">Wholesale Water and Wastewater Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInContractAssetAbstract', window );"><strong>Changes in Contract Asset [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerAssetNetCurrent', window );">Balance, beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerAssetNetCurrent', window );">Balance, end of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember', window );">Land Development Activities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInDeferredRevenueAbstract', window );"><strong>Changes in Deferred Revenue [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Balance, beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,991,535<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Recognition of unearned revenue</a></td>
<td class="num">(11,955,989)<span></span>
</td>
<td class="num">(11,503,523)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Balance, end of period</a></td>
<td class="nump">3,991,535<span></span>
</td>
<td class="nump">2,526,155<span></span>
</td>
<td class="nump">3,991,535<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_OilAndGasLeasesAndWaterSalesPaymentMember', window );">Oil and Gas Leases and Water Sales Payment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ChangesInDeferredRevenueAbstract', window );"><strong>Changes in Deferred Revenue [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Balance, beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,067,348<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Recognition of unearned revenue</a></td>
<td class="num">(8,461,253)<span></span>
</td>
<td class="num">(4,511,428)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Balance, end of period</a></td>
<td class="nump">1,067,348<span></span>
</td>
<td class="nump">2,467,649<span></span>
</td>
<td class="nump">1,067,348<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueLeasesCurrent', window );">Current portion of deferred revenue</a></td>
<td class="nump">$ 706,464<span></span>
</td>
<td class="nump">$ 2,254,830<span></span>
</td>
<td class="nump">$ 706,464<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ChangesInContractAssetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ChangesInContractAssetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ChangesInDeferredRevenueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ChangesInDeferredRevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContractWithCustomerAssetRecognitionOfContractAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time from transfer to receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContractWithCustomerAssetRecognitionOfContractAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContractWithCustomerDeferralOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferral of revenue from contract with customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContractWithCustomerDeferralOfRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfUnsoldRealEstateProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of unsold real estate properties as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfUnsoldRealEstateProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerAssetNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130531-203044<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130533-203044<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerAssetNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerAssetReclassifiedToReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time from transfer to receivable due to right to consideration becoming unconditional.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130551-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerAssetReclassifiedToReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130531-203044<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130532-203044<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityRevenueRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueLeasesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred lease income, classified as noncurrent. Includes, but is not limited to, amount paid in advance by lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.26)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueLeasesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfRealEstateProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of real estate properties owned as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfRealEstateProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuePerformanceObligationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuePerformanceObligationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRemainingPerformanceObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of transaction price allocated to performance obligation that has not been recognized as revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130556-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRemainingPerformanceObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRemainingPerformanceObligationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of remaining performance obligation to total remaining performance obligation not recognized as revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130556-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRemainingPerformanceObligationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_OilAndGasLeasesAndWaterSalesPaymentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_OilAndGasLeasesAndWaterSalesPaymentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331251521144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Oil and Gas Lease Payments (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>Well</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>Well</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_OilAndGasLeasePaymentsAbstract', window );"><strong>Oil and Gas Lease Payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductiveOilWellsNumberOfWellsNet', window );">Number of drilling wells</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService', window );">Productive oil wells number of wells expected to be placed in service</a></td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyIncomeNonoperating', window );">Oil and gas royalty income, net | $</a></td>
<td class="nump">$ 74,130<span></span>
</td>
<td class="nump">$ 37,263<span></span>
</td>
<td class="nump">$ 612,744<span></span>
</td>
<td class="nump">$ 113,104<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_OilAndGasLeasePaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_OilAndGasLeasePaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of producing oil wells and oil wells capable of production representing summation of fractional ownership working interest to whole expected to be placed in service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ProductiveOilWellsNumberOfWellsExpectedToBePlacedInService</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductiveOilWellsNumberOfWellsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of producing oil wells and oil wells capable of production representing summation of fractional ownership working interest to whole.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher SEC<br> -Name Regulation S-K (SK)<br> -Number 229<br> -Section 1208<br> -Paragraph (a)<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductiveOilWellsNumberOfWellsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyIncomeNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ancillary revenue earned during the period from the consideration paid to the entity for the use of its rights and property by another party. Examples include licensing the use of copyrighted materials and leasing the extraction of natural resources.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyIncomeNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149225304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Deferred Revenue (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>a</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>a </div>
<div>Customer</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Contract revenues recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (16,014,951)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (20,417,242)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Deferred revenue</a></td>
<td class="nump">$ 4,993,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,993,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,058,883<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 477,161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember', window );">Sky Ranch [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Deferred revenue</a></td>
<td class="nump">2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfIndustrialWaterCustomers', window );">Number of industrial water customer | Customer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=us-gaap_OilAndGasMember', window );">Oil and Gas Leases [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Deferred revenue</a></td>
<td class="nump">2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_CounterpartyNameAxis=pcyo_BisonOilAndGasLlpMember', window );">Bison Oil and Gas, LLP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Contract revenues recognized</a></td>
<td class="num">(13,900)<span></span>
</td>
<td class="num">$ (13,900)<span></span>
</td>
<td class="num">(41,800)<span></span>
</td>
<td class="num">$ (41,800)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Deferred revenue</a></td>
<td class="nump">$ 18,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,400<span></span>
</td>
<td class="nump">$ 573,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 167,200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=pcyo_OAndGLeaseMember', window );">OGOA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LandAbstract', window );"><strong>Land [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_GasAndOilAreaUndevelopedNet', window );">Mineral estate area owned (in acres) | a</a></td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_DeferredRevenueRevenueRecognizedTerm', window );">Term period of lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_TermForWhichOperatorMayExtendRight', window );">Term for which operator may extend right</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear', window );">Required payment from operator for extending right for one year</a></td>
<td class="nump">$ 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease', window );">Number of additional years for which operator may extend lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_MaximumTermOfLease', window );">Maximum term of lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Contract revenues recognized</a></td>
<td class="num">(47,800)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (143,400)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Deferred revenue</a></td>
<td class="nump">$ 404,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 404,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 547,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_DeferredRevenueRevenueRecognizedTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period for recognize revenue which reported as deferred or unearned revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_DeferredRevenueRevenueRecognizedTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LandAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LandAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_MaximumTermOfLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum term of lease after the additional extending period in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_MaximumTermOfLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of additional years for which operator may extend lease in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfAdditionalYearsForWhichOperatorMayExtendLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfIndustrialWaterCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of industrial water customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfIndustrialWaterCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of payment the operator is required to pay to extend the right for one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_RequiredPaymentFromOperatorForExtendingRightForOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_TermForWhichOperatorMayExtendRight">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The term for which operator may extend the right in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_TermForWhichOperatorMayExtendRight</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_GasAndOilAreaUndevelopedNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Leased area representing summation of fractional ownership working interest to whole on which oil and gas wells have not been drilled or completed that would permit production of economic quantities of oil and gas. Excludes area of undrilled acreage held by production under terms of lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher SEC<br> -Name Regulation S-K (SK)<br> -Number 229<br> -Section 1208<br> -Paragraph (b)<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_GasAndOilAreaUndevelopedNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130531-203044<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130532-203044<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityRevenueRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=us-gaap_OilAndGasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=us-gaap_OilAndGasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=pcyo_BisonOilAndGasLlpMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=pcyo_BisonOilAndGasLlpMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=pcyo_OAndGLeaseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=pcyo_OAndGLeaseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156755688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets (Details)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>May 31, 2020</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract', window );"><strong>Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">30 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_CapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331148852296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Share-Based Compensation (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>Nov. 30, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationAbstract', window );"><strong>Share-Based Compensation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions', window );">Tax expense (benefit) for granting and exercise of stock options</a></td>
<td class="num">$ (18,700)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (39,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_DeferredTaxImpactOnIncomeTaxProvision', window );">Deferred tax impact</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expense</a></td>
<td class="nump">$ 81,900<span></span>
</td>
<td class="nump">$ 96,100<span></span>
</td>
<td class="nump">$ 435,109<span></span>
</td>
<td class="nump">$ 257,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_DeferredTaxImpactOnIncomeTaxProvision">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax impact on the income tax provision as a result of the granting and exercise of stock options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_DeferredTaxImpactOnIncomeTaxProvision</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (benefit) related for the granting and exercise of stock options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_TaxExpenseBenefitForGrantingAndExerciseOfStockOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149374632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Income Taxes (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax', window );">Deferred tax assets (AMT)</a></td>
<td class="nump">$ 282,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 282,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 282,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued', window );">Accrued interest of unrecognized tax benefits</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued', window );">Accrued penalties of unrecognized tax benefits</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense', window );">Interest expense on unrecognized tax benefits</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Effective tax rate</a></td>
<td class="nump">24.80%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">24.60%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible alternative minimum tax credit carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of statutory penalties accrued for a tax position claimed or expected to be claimed by the entity, in its tax return.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense accrued for an underpayment of income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense for an underpayment of income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R37.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331156774168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Earnings per Common Share (Details) - shares<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per Common Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements', window );">Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)</a></td>
<td class="nump">200,056<span></span>
</td>
<td class="nump">201,644<span></span>
</td>
<td class="nump">229,142<span></span>
</td>
<td class="nump">206,934<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Anti-dilutive securities excluded from calculation of income per common share (in shares)</a></td>
<td class="nump">180,000<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1707-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28A<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1500-109256<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 23<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1757-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R38.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331230470104">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>PRESENTATION OF INTERIM INFORMATION, Recently Issued Accounting Pronouncements (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAndLiabilitiesLesseeAbstract', window );"><strong>Recently Issued Accounting Prounouncements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Right-to use assets</a></td>
<td class="nump">$ 213,252<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiability', window );">Lease liability</a></td>
<td class="nump">$ 210,509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201602Member', window );">ASU 2016-02 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAndLiabilitiesLesseeAbstract', window );"><strong>Recently Issued Accounting Prounouncements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Right-to use assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">258,900<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiability', window );">Lease liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 252,300<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAndLiabilitiesLesseeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAndLiabilitiesLesseeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's right to use underlying asset under operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201602Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201602Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149992488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details)<br></strong></div></th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>Assets </div>
<div>Liabilities</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($) </div>
<div>Assets </div>
<div>Liabilities</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HeldToMaturitySecurities', window );">Held-to-maturity securities</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 192,800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfAssets', window );">Number of assets | Assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfLiabilities', window );">Number of liabilities | Liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfAssets', window );">Number of assets | Assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfLiabilities', window );">Number of liabilities | Liabilities</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities measured at fair value</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets measured at fair value</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 3,900<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | U.S. Treasury Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax', window );">Accumulated unrealized gains and (losses)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,900<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets measured at fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtSecurities', window );">Available-for-sale securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets measured at fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,996,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtSecurities', window );">Available-for-sale securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,996,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets measured at fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtSecurities', window );">Available-for-sale securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Fair Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets measured at fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,996,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Fair Value [Member] | U.S. Treasury Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtSecurities', window );">Available-for-sale securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,996,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Cost / Other Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets measured at fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,992,100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember', window );">Recurring [Member] | Cost / Other Value [Member] | U.S. Treasury Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiabilityAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtSecurities', window );">Available-for-sale securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,992,100<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of assets available in each level of input.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of liabilities available in each level of input.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(6))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121558606&amp;loc=SL82898722-210454<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121553693&amp;loc=d3e26610-111562<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (aa)<br> -URI http://asc.fasb.org/extlink&amp;oid=121645371&amp;loc=d3e27161-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before tax, of unrealized gain (loss) in accumulated other comprehensive income (AOCI) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueNetAssetLiabilityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueNetAssetLiabilityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HeldToMaturitySecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in debt security measured at amortized cost (held-to-maturity).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121553693&amp;loc=d3e26610-111562<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121645371&amp;loc=d3e27232-111563<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(6))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HeldToMaturitySecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial and nonfinancial obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentAxis=us-gaap_USTreasurySecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=us-gaap_USTreasurySecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331144831544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>WATER AND LAND ASSETS (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">$ 60,469,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 60,469,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 54,327,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(5,075,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,075,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,056,900)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Net investments in water and water systems</a></td>
<td class="nump">55,393,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55,393,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,270,310<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortizationAbstract', window );"><strong>Depletion and Depreciation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">471,200<span></span>
</td>
<td class="nump">$ 322,700<span></span>
</td>
<td class="nump">1,253,200<span></span>
</td>
<td class="nump">$ 812,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_RangeviewWaterSupplyMember', window );">Rangeview Water Supply [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">14,827,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,827,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,823,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(15,200)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,200)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(14,700)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_SkyRanchWaterRightsAndOtherCostsMember', window );">Sky Ranch Water Rights and Other Costs [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">7,486,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,486,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,371,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(926,400)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(926,400)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(757,400)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_FairgroundsWaterAndWaterSystemMember', window );">Fairgrounds Water And Water System [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">2,899,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,899,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,899,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(1,216,900)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,216,900)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,151,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_RangeviewWaterSystemMember', window );">Rangeview Water System [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">15,905,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,905,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,617,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(648,500)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(648,500)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(372,300)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_WaterSupplyOtherMember', window );">Water Supply - Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">7,542,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,542,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,758,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(1,036,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,036,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(860,100)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_WildPointeServiceRightsMember', window );">Wild Pointe Service Rights [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">1,631,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,631,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,631,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(677,300)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(677,300)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(489,800)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_SkyRanchPipelineMember', window );">Sky Ranch Pipeline [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">5,727,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,727,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,723,700<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="num">(554,700)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(554,700)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(411,600)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_LostCreekWaterSupplyMember', window );">Lost Creek water supply [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">3,372,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,372,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,324,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember', window );">Construction in Progress [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Investment in Water and Water Systems [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Costs</a></td>
<td class="nump">1,076,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,076,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,176,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and depletion</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OtherMachineryAndEquipmentMember', window );">Other Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortizationAbstract', window );"><strong>Depletion and Depreciation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">$ 85,600<span></span>
</td>
<td class="nump">$ 97,800<span></span>
</td>
<td class="nump">$ 265,900<span></span>
</td>
<td class="nump">$ 276,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortizationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortizationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_RangeviewWaterSupplyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_RangeviewWaterSupplyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_SkyRanchWaterRightsAndOtherCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_SkyRanchWaterRightsAndOtherCostsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_FairgroundsWaterAndWaterSystemMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_FairgroundsWaterAndWaterSystemMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_RangeviewWaterSystemMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_RangeviewWaterSystemMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_WaterSupplyOtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_WaterSupplyOtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_WildPointeServiceRightsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_WildPointeServiceRightsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_SkyRanchPipelineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_SkyRanchPipelineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_LostCreekWaterSupplyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=pcyo_LostCreekWaterSupplyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OtherMachineryAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OtherMachineryAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149541688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>LONG-TERM OBLIGATIONS AND OPERATING LEASE, Long-Term Obligations (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">281 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>acre ft</div>
</th>
<th class="th">
<div>Feb. 29, 2020 </div>
<div>USD ($) </div>
<div>acre ft</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>Member </div>
<div>acre ft</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LongTermObligationsAndOperatingLeaseAbstract', window );"><strong>LONG-TERM OBLIGATIONS AND OPERATING LEASE [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability', window );">Percentage of original recorded liability compared to original total liability</a></td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount', window );">Percentage of payment remitted to CAA holders allocated to recorded liability account</a></td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation', window );">Percentage of payment remitted to CAA holders allocated to contingent obligation</a></td>
<td class="nump">65.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">65.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated', window );">Percentage of net proceeds from sale of export water allocated</a></td>
<td class="nump">88.105%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">88.105%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedRollForward', window );"><strong>Export Water Proceeds Received [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedBalances', window );">Balance at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,547,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedAcquisitions', window );">Acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedRelinquishment', window );">Relinquishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedOptionPayments', window );">Option payments - Sky Ranch and The Hills at Sky Ranch</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">110,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedTapFees', window );">Arapahoe County tap fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">533,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedSalePayments', window );">Export water sale payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">101,200<span></span>
</td>
<td class="nump">903,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterProceedsReceivedBalances', window );">Balance at end of period</a></td>
<td class="nump">$ 1,648,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,648,200<span></span>
</td>
<td class="nump">1,547,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsRollForward', window );"><strong>Initial Export Water Proceeds to Pure Cycle [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsBalances', window );">Balance at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,491,600<span></span>
</td>
<td class="nump">218,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsAcquisitions', window );">Acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,042,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsRelinquishment', window );">Relinquishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,386,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsOptionPayments', window );">Option payments - Sky Ranch and The Hills at Sky Ranch</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(42,300)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsTapFee', window );">Arapahoe County tap fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(373,100)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsExportWaterSalePayments', window );">Export water sale payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(89,200)<span></span>
</td>
<td class="num">(740,400)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_InitialExportWaterProceedsBalances', window );">Balance at end of period</a></td>
<td class="nump">29,402,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,402,400<span></span>
</td>
<td class="nump">29,491,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_TotalPotentialThirdPartyObligationRollForward', window );"><strong>Total Potential Third-Party Obligation [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PotentialThirdPartyObligationBalances', window );">Balance at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">987,600<span></span>
</td>
<td class="nump">31,807,700<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_TotalPotentialThirdPartyObligationAcquisitions', window );">Acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(28,042,500)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PotentialThirdPartyObligationRelinquishment', window );">Relinquishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,386,400)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PotentialThirdPartyObligationOptionPayments', window );">Option payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(68,100)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PotentialThirdPartyObligationTapFees', window );">Arapahoe County tap fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(159,900)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments', window );">Export water sale payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,000)<span></span>
</td>
<td class="num">(163,200)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PotentialThirdPartyObligationBalances', window );">Balance at end of period</a></td>
<td class="nump">975,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">975,600<span></span>
</td>
<td class="nump">987,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiabilityRollForward', window );"><strong>Participating Interests Liability [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiability', window );">Balance at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">332,140<span></span>
</td>
<td class="nump">11,090,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiabilityAcquisitions', window );">Acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,790,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiabilityRelinquishment', window );">Relinquishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(832,100)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiabilityOptionPayments', window );">Option payments - Sky Ranch and The Hills at Sky Ranch</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(23,800)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiabilityTapFees', window );">Arapahoe County tap fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(55,800)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments', window );">Export water sale payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,200)<span></span>
</td>
<td class="num">(56,700)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ParticipatingInterestsLiability', window );">Balance at end of period</a></td>
<td class="nump">327,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">327,942<span></span>
</td>
<td class="nump">332,140<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContingencyRollForward', window );"><strong>Contingency [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability', window );">Balance at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">655,400<span></span>
</td>
<td class="nump">20,717,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContingencyAcquisitions', window );">Acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(18,252,500)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContingencyRelinquishment', window );">Relinquishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,554,300)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContingencyOptionPayments', window );">Option payments - Sky Ranch and The Hills at Sky Ranch</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(44,300)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContingencyTapFees', window );">Arapahoe County tap fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(104,100)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ContingencyExportWaterSalePayments', window );">Export water sale payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,800)<span></span>
</td>
<td class="num">(106,500)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability', window );">Balance at end of period</a></td>
<td class="nump">647,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">647,600<span></span>
</td>
<td class="nump">$ 655,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExportWaterAbstract', window );"><strong>Export Water [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExpectedFutureExportWaterPayouts', window );">Expected future export water payouts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater', window );">Revenue receivables from sale of export water</a></td>
<td class="nump">$ 5,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty', window );">Expected proceeds from sale of export water after deduction of Land Board royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 220,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=pcyo_SouthMetroWiseAuthorityMember', window );">SMWA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PartnershipAbstract', window );"><strong>WISE Partnership [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders', window );">Number of other governmental or quasi-governmental water providers | Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfMembersToDeliverWater', window );">Number of members | Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember', window );">Rangeview District [Member] | WISE Partnership [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PartnershipAbstract', window );"><strong>WISE Partnership [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_VolumeOfWaterPurchased', window );">Volume of water purchased | acre ft</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">400<span></span>
</td>
<td class="nump">400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems', window );">Purchase of water</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 582,200<span></span>
</td>
<td class="nump">$ 582,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ProjectedCostOfParticipationAgreement', window );">Projected cost</a></td>
<td class="nump">$ 4,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement', window );">Projected financing period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContingencyAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The change in the contingency through acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContingencyAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContingencyExportWaterSalePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The change in the contingency through export water sale payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContingencyExportWaterSalePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContingencyOptionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The change in the contingency through option payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContingencyOptionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContingencyRelinquishment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The change in the contingency through relinquishment during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContingencyRelinquishment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContingencyRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContingencyRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ContingencyTapFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The change in the contingency through tap fees during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ContingencyTapFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExpectedFutureExportWaterPayouts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expected future export water payouts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExpectedFutureExportWaterPayouts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected amount of revenue receivable from the sale of export water.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExpectedFutureRevenueReceivableFromSaleOfExportWater</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expected proceeds from sale of export water after deduction of Land Board Royalty.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExpectedProceedsFromSaleOfExportWaterAfterDeductionOfRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterProceedsReceivedAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Export water proceeds received through acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterProceedsReceivedAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterProceedsReceivedBalances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Export water proceeds received as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterProceedsReceivedBalances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterProceedsReceivedOptionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Export water proceeds received through option payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterProceedsReceivedOptionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterProceedsReceivedRelinquishment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Export water proceeds received through relinquishment during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterProceedsReceivedRelinquishment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterProceedsReceivedRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterProceedsReceivedRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterProceedsReceivedSalePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Export water proceeds received through export water sale payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterProceedsReceivedSalePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ExportWaterProceedsReceivedTapFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Export water proceeds received through tap fees during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ExportWaterProceedsReceivedTapFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InitialExportWaterProceedsAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total proceeds from the sale of export water after payment of the Land Board royalty allocated through acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InitialExportWaterProceedsAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InitialExportWaterProceedsBalances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Initial export water proceeds as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InitialExportWaterProceedsBalances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InitialExportWaterProceedsExportWaterSalePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total proceeds from the sale of export water after payment of the Land Board royalty allocated through export water sale payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InitialExportWaterProceedsExportWaterSalePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InitialExportWaterProceedsOptionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total proceeds from the sale of export water after payment of the Land Board royalty allocated through option payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InitialExportWaterProceedsOptionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InitialExportWaterProceedsRelinquishment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total proceeds from the sale of export water after payment of the Land Board royalty allocated through relinquishment during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InitialExportWaterProceedsRelinquishment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InitialExportWaterProceedsRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InitialExportWaterProceedsRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_InitialExportWaterProceedsTapFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total proceeds from the sale of export water after payment of the Land Board royalty allocated through tap fees during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_InitialExportWaterProceedsTapFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LongTermObligationsAndOperatingLeaseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LongTermObligationsAndOperatingLeaseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfMembersToDeliverWater">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of members to deliver water of the SMWA, Denver Water and Aurora Water.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfMembersToDeliverWater</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other governmental or quasi-governmental water providers member in SMWA.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfOtherGovernmentalAndQuasiGovernmentalWaterProviders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating interests liability as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiabilityAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating interests liability through acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiabilityAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating interests liability through export water sale payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiabilityExportWaterSalePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiabilityOptionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating interests liability through option payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiabilityOptionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiabilityRelinquishment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating interests liability through relinquishment during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiabilityRelinquishment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiabilityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiabilityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ParticipatingInterestsLiabilityTapFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Participating interests liability through tap fees during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ParticipatingInterestsLiabilityTapFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PartnershipAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PartnershipAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of net proceeds of export water allocated after payment of land board royalty.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PercentageOfNetProceedsFromSaleOfExportWaterAllocated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of original recorded liability as compared to total original liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PercentageOfOriginalRecordedLiabilityToOriginalTotalLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of each payment remitted to Comprehensive Amendment Agreement (CAA) holders allocated to the recorded liability account.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PercentageOfPaymentAllocatedToRecordedLiabilityAccount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of each payment remitted to Comprehensive Amendment Agreement (CAA) holders allocated to the contingent obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PercentageOfPaymentRemittedToAllocatedToContingentObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period of financing of the partnership participation agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PotentialThirdPartyObligationBalances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Potential third-party obligation as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PotentialThirdPartyObligationBalances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PotentialThirdPartyObligationOptionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total potential third-party obligation through option payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PotentialThirdPartyObligationOptionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PotentialThirdPartyObligationRelinquishment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total potential third-party obligation through relinquishment during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PotentialThirdPartyObligationRelinquishment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PotentialThirdPartyObligationTapFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total potential third-party obligation through tap fees during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PotentialThirdPartyObligationTapFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ProjectedCostOfParticipationAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of project cost of the partnership participation agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ProjectedCostOfParticipationAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_TotalPotentialThirdPartyObligationAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total potential third-party obligation through acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_TotalPotentialThirdPartyObligationAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total potential third-party obligation through export water sale payments during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_TotalPotentialThirdPartyObligationExportWaterSalePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_TotalPotentialThirdPartyObligationRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_TotalPotentialThirdPartyObligationRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_VolumeOfWaterPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The volume of surface water and groundwater rights purchased, along with certain storage rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_VolumeOfWaterPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:volumeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial liabilities, which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121572278&amp;loc=d3e13433-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosureOffbalanceSheetRisksAmountLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of a facility and equipment that provides water supply which includes wells, reservoirs, pumping stations, and control facilities; and waste water systems which includes the waste treatment and disposal facility and equipment to households and industry.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=pcyo_SouthMetroWiseAuthorityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=pcyo_SouthMetroWiseAuthorityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=pcyo_WisePartnershipMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=pcyo_WisePartnershipMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R42.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331148817672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>LONG-TERM OBLIGATIONS AND OPERATING LEASE, Lease Commitments (Details)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseCostAbstract', window );"><strong>Lease Commitments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Area of office and warehouse | ft&#178;</a></td>
<td class="nump">11,393<span></span>
</td>
<td class="nump">11,393<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeOperatingLeaseTermOfContract', window );">Operating lease term</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_OperatingLeasesMonthlyBaseRent', window );">Monthly base rent of operating lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeOperatingLeaseRenewalTerm', window );">Operating lease extension term</a></td>
<td class="text">2 years<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease', window );">Percentage of increase in primary base payment for operating lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseExpense', window );">Operating lease expense</a></td>
<td class="nump">$ 21,300<span></span>
</td>
<td class="nump">$ 63,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubleaseIncome', window );">Sublease rental income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasePayments', window );">Payment against lease obligation, operating lease</a></td>
<td class="nump">19,800<span></span>
</td>
<td class="nump">59,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAndLiabilitiesLesseeAbstract', window );"><strong>ROU Lease Assets and Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Operating leases - right of use assets</a></td>
<td class="nump">213,252<span></span>
</td>
<td class="nump">213,252<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrent', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">70,191<span></span>
</td>
<td class="nump">70,191<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityNoncurrent', window );">Lease obligations - operating leases, net of current portion</a></td>
<td class="nump">140,318<span></span>
</td>
<td class="nump">140,318<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiability', window );">Total lease liability</a></td>
<td class="nump">$ 210,509<span></span>
</td>
<td class="nump">$ 210,509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1', window );">Weighted average remaining lease term</a></td>
<td class="text">2 years 8 months 12 days<span></span>
</td>
<td class="text">2 years 8 months 12 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent', window );">Weighted average discount rate</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_OperatingLeasesMonthlyBaseRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of rental expense payable per month for operating leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_OperatingLeasesMonthlyBaseRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of increase in primary base payment of operating lease for extended period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PercentageOfIncreaseInPrimaryBasePaymentForOperatingLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of a real estate property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAndLiabilitiesLesseeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAndLiabilitiesLesseeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseCostAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseCostAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeOperatingLeaseRenewalTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Term of lessee's operating lease renewal, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918673-209980<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeOperatingLeaseRenewalTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeOperatingLeaseTermOfContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Term of lessee's operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918673-209980<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeOperatingLeaseTermOfContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating lease expense. Excludes sublease income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918638-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 5<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918643-209977<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's right to use underlying asset under operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average discount rate for operating lease calculated at point in time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubleaseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of sublease income excluding finance and operating lease expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubleaseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R43.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331144020328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY, Equity Compensation Plan (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jan. 15, 2020 </div>
<div>BoardMember </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 27, 2019 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 25, 2019 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expense | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 81,900<span></span>
</td>
<td class="nump">$ 96,100<span></span>
</td>
<td class="nump">$ 435,109<span></span>
</td>
<td class="nump">$ 257,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=pcyo_NonEmployeeMember', window );">Non Employee [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Number of Options [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted (in shares) | shares</a></td>
<td class="nump">2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfBoardMembers', window );">Number of board members | BoardMember</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 12.45<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expense | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 149,400<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=pcyo_EquityIncentivePlan2014Member', window );">2014 Equity Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract', window );"><strong>Shareholders' Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Reserved shares of common stock for issuance (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member', window );">2004 Incentive Plan and 2014 Equity Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Number of Options [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding, beginning of period (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">555,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod', window );">Forfeited or expired (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding, end of period (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">670,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">670,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">555,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Options exercisable (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">490,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">490,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted Average Exercise Price [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding, beginning of period (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.33<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.67<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice', window );">Forfeited or expired (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding, end of period (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.33<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options exercisable (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted average remaining contractual term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 years 4 months 13 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 years 3 months 7 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Weighted average remaining contractual term, options exercisable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years 5 months 1 day<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Approximate aggregate intrinsic value, outstanding | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,066,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,066,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,527,590<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Approximate aggregate intrinsic value, options exercisable | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,023,755<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,023,755<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average grant-date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expense | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 81,900<span></span>
</td>
<td class="nump">$ 96,100<span></span>
</td>
<td class="nump">$ 435,100<span></span>
</td>
<td class="nump">$ 257,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member', window );">2004 Incentive Plan and 2014 Equity Plan [Member] | Senior Management [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Number of Options [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average grant-date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Vesting period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member', window );">2004 Incentive Plan and 2014 Equity Plan [Member] | Senior Management [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod', window );">Expiration period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member', window );">2004 Incentive Plan and 2014 Equity Plan [Member] | Employee [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Number of Options [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average grant-date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Vesting period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member', window );">2004 Incentive Plan and 2014 Equity Plan [Member] | Employee [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod', window );">Expiration period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfBoardMembers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents number of board members in company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfBoardMembers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares authorized for issuance under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price of options that were either forfeited or expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=pcyo_NonEmployeeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=pcyo_NonEmployeeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=pcyo_EquityIncentivePlan2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=pcyo_EquityIncentivePlan2014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=pcyo_SeniorManagementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=pcyo_SeniorManagementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=pcyo_EmployeeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=pcyo_EmployeeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331144728936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY, Combined Activity and Value of Non-vested Options (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expense</a></td>
<td class="nump">$ 81,900<span></span>
</td>
<td class="nump">$ 96,100<span></span>
</td>
<td class="nump">$ 435,109<span></span>
</td>
<td class="nump">$ 257,813<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member', window );">2004 Incentive Plan and 2014 Equity Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward', window );"><strong>Number of Options [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Non-vested options outstanding, beginning of period (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">152,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Vested (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(102,500)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares', window );">Forfeited (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Non-vested options outstanding, end of period (in shares)</a></td>
<td class="nump">180,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">180,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract', window );"><strong>Weighted Average Grant Date Fair Value [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Non-vested options outstanding, beginning of period (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.03<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue', window );">Vested (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue', window );">Forfeited (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Non-vested options outstanding, end of period (in dollars per share)</a></td>
<td class="nump">$ 4.31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Stock Options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expense</a></td>
<td class="nump">$ 81,900<span></span>
</td>
<td class="nump">$ 96,100<span></span>
</td>
<td class="nump">$ 435,100<span></span>
</td>
<td class="nump">$ 257,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation expenses</a></td>
<td class="nump">$ 543,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 543,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1', window );">Weighted-average period for options expected to vest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cost not yet recognized for nonvested award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-vested options forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of non-vested options forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=pcyo_IncentivePlan2004AndEquityPlan2014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331152538776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>BoardMember </div>
<div>Employee </div>
<div>acre ft</div>
</th>
<th class="th">
<div>Feb. 29, 2020 </div>
<div>USD ($) </div>
<div>acre ft</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>BoardMember </div>
<div>Employee </div>
<div>acre ft</div>
</th>
<th class="th">
<div>Aug. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableRelatedParties', window );">Notes receivable</a></td>
<td class="nump">$ 28,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NotesReceivableRelatedPartiesPrincipal', window );">Notes receivable, principal</a></td>
<td class="nump">25,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NotesReceivableRelatedPartiesAccruedInterest', window );">Notes receivable, accrued interest</a></td>
<td class="nump">$ 2,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=pcyo_FacilitiesFundingAndAcquisitionAgreementMember', window );">FFAA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember', window );">Rangeview District [Member] | Water and Wastewater Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfEmployeeBoardOfDirectors', window );">Number of employee board of directors | Employee</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfIndependentBoardOfDirectors', window );">Number of independent board of directors | BoardMember</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember', window );">Rangeview District [Member] | Water and Wastewater Services [Member] | Loans Receivable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">5.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_DebtInstrumentRenewalTerm', window );">Renewal term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember', window );">Rangeview District [Member] | Water and Wastewater Services [Member] | Loans Receivable [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_LoanExtendedMaximumCapacity', window );">Loan extended, maximum capacity</a></td>
<td class="nump">$ 250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember', window );">Rangeview District [Member] | Water and Wastewater Services [Member] | Loans Receivable [Member] | Prime Rate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Basis spread on variable rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember', window );">Rangeview District [Member] | Water and Wastewater Services [Member] | Notes Receivable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableRelatedParties', window );">Notes receivable</a></td>
<td class="nump">$ 1,031,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,031,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NotesReceivableRelatedPartiesPrincipal', window );">Notes receivable, principal</a></td>
<td class="nump">590,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">590,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NotesReceivableRelatedPartiesAccruedInterest', window );">Notes receivable, accrued interest</a></td>
<td class="nump">$ 441,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">441,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember', window );">Rangeview District [Member] | WISE Partnership [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Funding pursuant to participation agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,400<span></span>
</td>
<td class="nump">$ 22,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_VolumeOfWaterPurchased', window );">Volume of water purchased | acre ft</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">400<span></span>
</td>
<td class="nump">400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems', window );">Purchase of water</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 582,200<span></span>
</td>
<td class="nump">$ 582,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ProjectedCostOfParticipationAgreement', window );">Projected cost</a></td>
<td class="nump">4,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement', window );">Projected financing period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures', window );">Investments in the WISE assets</a></td>
<td class="nump">$ 6,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember', window );">Sky Ranch District [Member] | Sky Ranch Community Authority Board [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_RelatedPartyEstimatedCost', window );">Estimated cost</a></td>
<td class="nump">$ 30,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts', window );">Advances, net of reimbursed costs</a></td>
<td class="nump">14,900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories', window );">Advances included in land development inventories</a></td>
<td class="nump">1,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed', window );">Advances expensed through land development construction costs</a></td>
<td class="nump">$ 13,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_DebtInstrumentRenewalTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Term of renewal for debt instrument, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_DebtInstrumentRenewalTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_LoanExtendedMaximumCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum capacity that may be utilized as part of the loan extended as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_LoanExtendedMaximumCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NotesReceivableRelatedPartiesAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, accrued interest amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NotesReceivableRelatedPartiesAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NotesReceivableRelatedPartiesPrincipal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, principal amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NotesReceivableRelatedPartiesPrincipal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfEmployeeBoardOfDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of employees who are members of the board of directors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfEmployeeBoardOfDirectors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfIndependentBoardOfDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of independent board who are members of the board of directors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfIndependentBoardOfDirectors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period of financing of the partnership participation agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PeriodOfFinancingOfPartnershipParticipationAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ProjectedCostOfParticipationAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of project cost of the partnership participation agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ProjectedCostOfParticipationAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advances for improvements, excluding interest, net of costs reimbursed to the Sky Ranch Community Authority Board (the "CAB").</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advances for improvements, excluding interest, net of costs reimbursed to the Sky Ranch Community Authority Board (the "CAB"), expensed through land development construction costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsExpensed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advances for improvements, excluding interest, net of costs reimbursed to the Sky Ranch Community Authority Board (the "CAB"), included in land development inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_RelatedPartyAdvancesForImprovementsNetOfReimbursedCostsIncludedInLandDevelopmentInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_RelatedPartyEstimatedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of estimated cost for improvements for Sky Ranch with respect to earthwork, erosion control, streets, drainage and landscaping.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_RelatedPartyEstimatedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_VolumeOfWaterPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The volume of surface water and groundwater rights purchased, along with certain storage rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_VolumeOfWaterPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:volumeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in equity method investee and investment in and advance to affiliate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of a facility and equipment that provides water supply which includes wells, reservoirs, pumping stations, and control facilities; and waste water systems which includes the waste treatment and disposal facility and equipment to households and industry.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireWaterAndWasteWaterSystems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of transactions with related party during the financial reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAmountsOfTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=pcyo_FacilitiesFundingAndAcquisitionAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=pcyo_FacilitiesFundingAndAcquisitionAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_RangeviewDistrictMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=pcyo_WaterAndWastewaterServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=pcyo_WaterAndWastewaterServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_LoansReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_LoansReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=us-gaap_PrimeRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=us-gaap_PrimeRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_NotesReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_NotesReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=pcyo_WisePartnershipMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=pcyo_WisePartnershipMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=pcyo_SkyRanchMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=pcyo_CommunityAuthorityBoardMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=pcyo_CommunityAuthorityBoardMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149798760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SIGNIFICANT CUSTOMERS (Details) - Customer<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember', window );">Sales [Member] | Water and Wastewater Services [Member] | Rangeview District [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">72.00%<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="nump">68.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Water and Wastewater Services [Member] | Rangeview District [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfCustomers', window );">Number of customers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Water and Wastewater Services [Member] | Ridgeview [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Water and Wastewater Services [Member] | Sky Ranch [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">39.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">24.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Water and Wastewater Services [Member] | Wild Pointe [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="nump">13.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Water and Wastewater Services [Member] | Customer One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">11.00%<span></span>
</td>
<td class="nump">93.00%<span></span>
</td>
<td class="nump">19.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Water and Wastewater Services [Member] | Customer Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Water and Wastewater Services [Member] | Customer Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Land Development [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfCustomers', window );">Number of customers</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Land Development [Member] | Customer One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">67.00%<span></span>
</td>
<td class="nump">65.00%<span></span>
</td>
<td class="nump">61.00%<span></span>
</td>
<td class="nump">45.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Land Development [Member] | Customer Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="nump">33.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">34.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Revenue [Member] | Land Development [Member] | Customer Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember', window );">Accounts Receivable [Member] | One Other Customer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NumberOfCustomers', window );">Number of customers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember', window );">Accounts Receivable [Member] | Water and Wastewater Services [Member] | Rangeview District [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember', window );">Accounts Receivable [Member] | Water and Wastewater Services [Member] | Ridgeview [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember', window );">Accounts Receivable [Member] | Water and Wastewater Services [Member] | Wild Pointe [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_ConcentrationRiskPercentageAbstract', window );"><strong>Concentration Risk Percentage [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_ConcentrationRiskPercentageAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_ConcentrationRiskPercentageAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NumberOfCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NumberOfCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6351-108592<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=121572278&amp;loc=d3e13531-108611<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121572278&amp;loc=d3e13537-108611<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6404-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_RangeviewDistrictMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_RangeviewDistrictMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_RidgeviewYouthServicesCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_RidgeviewYouthServicesCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_SkyRanchCommunityDevelopmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_SkyRanchCommunityDevelopmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_ElbertHighway86CommercialDistrictMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_ElbertHighway86CommercialDistrictMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_CustomerOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_CustomerOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_CustomerTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_CustomerTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_CustomerThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_CustomerThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MajorCustomersAxis=pcyo_OneOtherCustomerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=pcyo_OneOtherCustomerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331151715160">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>ACCRUED LIABILITIES (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PayablesAndAccrualsAbstract', window );"><strong>ACCRUED LIABILITIES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
<td class="nump">$ 1,273,600<span></span>
</td>
<td class="nump">$ 3,428,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrent', window );">Current operating lease obligations</a></td>
<td class="nump">70,191<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedSalariesCurrent', window );">Accrued compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">460,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent', window );">Estimated property taxes</a></td>
<td class="nump">111,100<span></span>
</td>
<td class="nump">94,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedProfessionalFeesCurrent', window );">Professional fees</a></td>
<td class="nump">35,100<span></span>
</td>
<td class="nump">70,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Operating payables</a></td>
<td class="nump">1,057,200<span></span>
</td>
<td class="nump">2,803,900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_PayablesForInfrastructureCapitalProjects', window );">Payables for infrastructure capital projects</a></td>
<td class="nump">142,400<span></span>
</td>
<td class="nump">930,900<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Operating payables to CAB</a></td>
<td class="nump">$ 487,500<span></span>
</td>
<td class="nump">$ 1,399,600<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_PayablesForInfrastructureCapitalProjects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred for water infrastructure capital project but not yet paid, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_PayablesForInfrastructureCapitalProjects</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 720<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6419918&amp;loc=d3e35281-107843<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedProfessionalFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6911-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedProfessionalFeesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedSalariesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6911-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedSalariesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6911-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e7018-107765<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PayablesAndAccrualsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PayablesAndAccrualsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331144619720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SEGMENT INFORMATION, Revenue by Segments (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2020 </div>
<div>USD ($) </div>
<div>Segment</div>
</th>
<th class="th">
<div>May 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>SEGMENT INFORMATION [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfOperatingSegments', window );">Number of operating segments | Segment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationRevenueAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">$ 1,850,121<span></span>
</td>
<td class="nump">$ 5,184,663<span></span>
</td>
<td class="nump">$ 15,829,730<span></span>
</td>
<td class="nump">$ 10,887,631<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember', window );">Wholesale Water and Wastewater Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationRevenueAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">1,153,951<span></span>
</td>
<td class="nump">2,476,570<span></span>
</td>
<td class="nump">4,326,207<span></span>
</td>
<td class="nump">4,851,961<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember', window );">Land Development Activities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationRevenueAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax', window );">Total revenues</a></td>
<td class="nump">$ 696,170<span></span>
</td>
<td class="nump">$ 2,708,093<span></span>
</td>
<td class="nump">$ 11,503,523<span></span>
</td>
<td class="nump">$ 6,035,670<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfOperatingSegments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8672-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfOperatingSegments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130543-203045<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130545-203045<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 924<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 11.L)<br> -URI http://asc.fasb.org/extlink&amp;oid=6472922&amp;loc=d3e499488-122856<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingInformationRevenueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingInformationRevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149410152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SEGMENT REPORTING, Wholesale Water and Wastewater Services and Land Development Pretax Income (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Total pretax income (loss)</a></td>
<td class="nump">$ 36,275<span></span>
</td>
<td class="nump">$ 1,261,371<span></span>
</td>
<td class="nump">$ 8,038,618<span></span>
</td>
<td class="nump">$ 1,799,318<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidationItemsAxis=us-gaap_CorporateNonSegmentMember', window );">Corporate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Total pretax income (loss)</a></td>
<td class="num">(707,273)<span></span>
</td>
<td class="num">(660,990)<span></span>
</td>
<td class="num">(1,925,548)<span></span>
</td>
<td class="num">(1,743,280)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember', window );">Wholesale Water and Wastewater Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Total pretax income (loss)</a></td>
<td class="nump">603,158<span></span>
</td>
<td class="nump">1,802,340<span></span>
</td>
<td class="nump">2,621,356<span></span>
</td>
<td class="nump">3,222,922<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember', window );">Land Development Activities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Total pretax income (loss)</a></td>
<td class="nump">$ 140,390<span></span>
</td>
<td class="nump">$ 120,021<span></span>
</td>
<td class="nump">$ 7,342,810<span></span>
</td>
<td class="nump">$ 319,676<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidationItemsAxis=us-gaap_CorporateNonSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidationItemsAxis=us-gaap_CorporateNonSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331151578216">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>SEGMENT REPORTING, Corporate Assets (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationAdditionalInformationAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">$ 88,209,073<span></span>
</td>
<td class="nump">$ 83,721,404<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidationItemsAxis=us-gaap_CorporateNonSegmentMember', window );">Corporate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationAdditionalInformationAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">22,466,167<span></span>
</td>
<td class="nump">15,266,783<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember', window );">Wholesale Water and Wastewater Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationAdditionalInformationAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">56,244,054<span></span>
</td>
<td class="nump">51,588,079<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember', window );">Land Development Activities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationAdditionalInformationAbstract', window );"><strong>Segment Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">$ 9,498,852<span></span>
</td>
<td class="nump">$ 16,866,542<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingInformationAdditionalInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingInformationAdditionalInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidationItemsAxis=us-gaap_CorporateNonSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidationItemsAxis=us-gaap_CorporateNonSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_WholesaleWaterAndWastewaterServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=pcyo_LandDevelopmentActivitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140331149246520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>May 31, 2020</div></th>
<th class="th"><div>May 31, 2019</div></th>
<th class="th"><div>Aug. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="nump">$ 8,938<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 1,974,898<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Current income tax expense</a></td>
<td class="nump">20,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,264,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred income tax expense (benefit)</a></td>
<td class="num">$ (11,900)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 710,056<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_EstimatedAnnualEffectiveIncomeTaxRate', window );">Estimated annual effective tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective tax rate</a></td>
<td class="nump">24.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract', window );"><strong>Deferred Tax Assets (Liabilities) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net operating loss carryforwards</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 609,439<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities', window );">Accrued compensation</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">113,559<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsDeferredIncome', window );">Deferred revenues</a></td>
<td class="nump">104,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">104,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">149,895<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment', window );">Depreciation and depletion</a></td>
<td class="num">(26,120)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(26,120)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(46,408)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost', window );">Non-qualified stock options</a></td>
<td class="nump">449,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">449,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">410,633<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOther', window );">Other</a></td>
<td class="nump">45,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46,128<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNet', window );">Net deferred tax asset</a></td>
<td class="nump">573,190<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">573,190<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,283,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetOperatingLossCarryforwardsAbstract', window );"><strong>Net Operating Loss Carryforwards [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Income taxes paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">1,305,130<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Net operating loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember', window );">Federal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetOperatingLossCarryforwardsAbstract', window );"><strong>Net Operating Loss Carryforwards [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Income taxes paid</a></td>
<td class="nump">212,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,089,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember', window );">Federal [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetOperatingLossCarryforwardsAbstract', window );"><strong>Net Operating Loss Carryforwards [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsExpirationDate', window );">Net operating loss carryforwards, expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 31,  2036<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember', window );">Federal [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetOperatingLossCarryforwardsAbstract', window );"><strong>Net Operating Loss Carryforwards [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsExpirationDate', window );">Net operating loss carryforwards, expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 31,  2038<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember', window );">State [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetOperatingLossCarryforwardsAbstract', window );"><strong>Net Operating Loss Carryforwards [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Income taxes paid</a></td>
<td class="nump">$ 22,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 215,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember', window );">State [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetOperatingLossCarryforwardsAbstract', window );"><strong>Net Operating Loss Carryforwards [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsExpirationDate', window );">Net operating loss carryforwards, expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 31,  2035<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember', window );">State [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_pcyo_NetOperatingLossCarryforwardsAbstract', window );"><strong>Net Operating Loss Carryforwards [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsExpirationDate', window );">Net operating loss carryforwards, expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 31,  2036<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_EstimatedAnnualEffectiveIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of estimated annual effective income tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_EstimatedAnnualEffectiveIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_pcyo_NetOperatingLossCarryforwardsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">pcyo_NetOperatingLossCarryforwardsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>pcyo_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsDeferredIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsDeferredIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32672-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120385591&amp;loc=d3e38679-109324<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(9))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwardsExpirationDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiration date of each operating loss carryforward included in operating loss carryforward, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwardsExpirationDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>65
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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ME97^H$65H[38":7S,:3M.OX! #R :$OX)(HBPMP0_0ZB/PGQ>\43 ?F]EC5
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M&-W=>G?SV7AX/QF#Z^%\>#N: &\ZF=Q[H+& %"4\1!S[,+H C2R!68 Y"B[
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M91</MOPKM-0<L1$RN+0/N8,3CC6(,&MX^Q9NHV"W<,7&2)\J(3 1*_^298S
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MD8#";]_!R!A&0B/2_ .>6@J960KW/P(P6!B-2#/A6LR86<Q>H_]5*-/ZPDC
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M'F?T+Z+D,9_@N!5,TXSZ8428/99A#3CL!'S'@9F7V1%D4J1 3[N<JRL;U-#
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M8GYD-!L6,X*CR'-Q0J-AK+M_T^!UHZMX3;NA&$'_4+1P .5Q,#,SNS1"@:=
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M!O#_2HCJ?*$>4)_8W_P+4$L#!!0    ( #%(YU#;*"KJKB<  -Z%   8
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MG0+A?\.O$SB).X5;JG"L/#CS-F6AO?K;A[?'@W,++& L5; YQKH#2> !6=,
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M6>#X_5'6FHG&D30G5PI#&?@<["4MR;10N8UE49R90GYH@)-6(SO>2*>Y%T4
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M-^"8)*_#FG9.)0\'M]06MZ D-J!F]3);FW0F"3]Y-,# &@.'H2S$\.5,!;A
M::O"HV[/U(O>J%F"83Q?K!YE/=63?@HQ]<"-3[ZQH>1#14JGEKU4NK82GE+]
MS53#&5$6VTL5<[%9BU3D 1\,F^BA15HVVAI+]Y14IH9)6S:#D3<L7]ED*1&M
M&6NBA";Q)#JQ,W?*N41))7,2U115TXA>=$$$SPLRDRJ.[AK#'$,8=<Y33!5E
M?A3EYR0IY>) 8>&UY!;\Q!.3FK/X1;P$R[8*K?XA]>-^RL+61LFSL D:NE]I
M8(V>74X2'!B!L@R.^\4<U#W%9,&^>SX<6'^/#>!.<2*Y>HDF^"0[/!\QT7/,
M9%,&\E![SEUKX<%9[\0N[2%D0Y$WBY2.3'I0<_(T.B"ZH_+Z7>/*[.0IID6K
MO6G'\$JCYR?G)_&PST\^/Q^=Q0/XP.4-[6*!T"_N80_%8_WKPS"<Q2<G)_&9
M@6(4GY],R%YX'!Q?6B36)DR_D,.;CM3E9"C;WR'=5E0B2#[B-[8&VD]1&)F-
M^0E-O)?GGAD''&0/G/G8LH/D, 9#@\ED7JM=!4V>A">#6T4G:;DVS0HFX\,T
MEF;&-)1T$;7J2,912D?-%@NU6XZ9=(USR2Z'5C&J?9C=CYD.]E_.@#_,SM%6
MH>8;6\]'"O;&+^Z\M$QRW4PQC/C!UPQ^GF"+N19CUFOL>0OJN=L.&E'FQ9O8
M_-'._=O"77N6,I'!/.&(3N .A6^WFL*:'5,>:V6#1YR!CJ*4.FTR4'\2+>24
M6@U>K($8OGDI#.F\4Q.T0=1K3":46-9(P5)38X&%?A@V8.286EJUNSN@9"($
MKVV"4!GL."@!=M$<WTX %O:\.(2+U!7I))3!=PD9"+BN@*M=-KJT)35$$%X1
M:TPC; J[JRK86+R/P'-0+. _KILUQ842%^R0J!<!Z-5Z<R"(ZS RR:K[Q6UP
M"COU>JY<K[?[8T>)VA4YH5(-<& VB2[+@Q?8>VGJMS<VMH2H<>UM9]'[]Q<7
M79$HDQ$]Z<S0M3CORN]A.P_\&R!:334:R?VQNE>K-5@F\^P>>0*5I58%MMA8
MDF6^E?R8:8!,S$[89QO$X]&$_!_RV]L3'_/$S;3$?B;\^TFSQZ<G//D15@FY
M +&'N#<XGTL??#6VNR5S(7MZ;H^?]WS0[TU<X%MS'M,C:>?G6^;S)_+;,1#)
M[686>[CX!<9,'\L49@(O^B6=2^!^\+Y"V.V60D$8@]GA!?);)E6".27NYD:;
M+=PT-S6TV>#(S_AN7QSD!':QKG?YU<:H#X^^XTCH(8%P:(+'</4!=GJ".CQ8
M#/RUH+!>AY#T*6F*!9-W7JKK3N2NU[IU@+[BT&>@D !)#B_)[\_4B]YUE86U
MTHJJPD"$)A5FZA^MV4ULZ?5>X+=5]VH'.C8H[^CU776AR2]#R405BDS5R[(!
MN3951A6F[0H@;B+@BTDH (K:M6.5M@<1.P.$N'QG/V1F[(/<P+?KIPDI[3@L
MUV8U[(/*N'D,5OJLZGTN3A<E/H^&$Q#,@W@"LO-Y-.C#'RQ(X<,X/@<;''^Y
MF,VJAO2+=*T-XOYD&)_#3Z1HAK]XWQQBX$$\.AW$)\$X\\U#O#LY&Y +9$::
MSU_(7>LX(MC<&6SNE)YJ;^XT/A\->;Q'PFP#:PXKH0F<N!PZ+/)\Y(E0/U6B
ML$W(5$OG\ FL93*9N7>.BI8/5;'O$>DVULT5GF2K1)/^B60[Q*(3@,EG$8F<
MM@$?#IS3W-LQNF7[_Z'WF]\NZ,VA#;&^C?H TJ/GQ?_S#5;O1+[71";7CAM_
ML#^!#.954V1L"/Q@T]EJ;BF32+N] PY$N2V&;4ZFS%FE?O%0*V+!W;S:B2NY
MN@%P[9W=_O'H"IE+-[S2;NZ&FV)F;&$.+#%I+/USJ[(I]9SG5CBJ??.&N[\$
M]MZZ52 HKFU-0]63/@3!I.WK":0>+ :"7F1%(1X)*QS@7,/^[B\_B8I.;5N[
M&G2UH/(DU[ ?#\8GG1: /\(6P9NA1V[L"P>W"(,#$+]MQT'V']9!5.T [(E+
MD'X40QE,)O#W*#X_!RD_FD177DE$CJEV+6E\J@;@!*,P^C >GYS&)^-SQ!'\
M-1J?[=\E:(OS47S6'\/?(&4G9_'9V8B+ZZ67P>.QG4!0NUCC <AV@T+T: L_
M,2+S^3 >3L;QV4AB6*?]$]C6N"-4A?6JBJ[B,&O*D;2AU3OKPUETK!_PQ,Z6
M?RA7.(S#29R"RCL9")6QSVX6'4SB\_%Y?'8ZC(9X8F?Q^<FXS4%-(0T39M31
MX"3NHSTP&0"A'P')CT&!#L?#0V2_GR"J!Y9#MP,]QDE_!"0\XG.#S^<3@/[L
MG&VK'39O^?W/Q_$$O<[A&7\$4^!D *0PD@3<HXGM2;<[[5!@2&6F[L,TETEG
M"7:*BE5-J3QR1[W\=:6DU5Y;D>2ARU9]F]X6ZGGQ_#9S#X(WED-H[4RE<8]-
M?8;D\?3N$?EY"EJ?FJJF?J-0F OU6L3Q@B6^442NPJ'>V\/)"=]RQFL(+1[X
M=)X/P/:<G*)Q9V /FLM,FQS,.AA,V'PR8:X=LVJGBY(/")" 09'>/H/1;K:5
ML#@_^\GVF829*R0I=5^[T/*/;=C%[B\LH\?-/ZIOMUU- :*F*<P(D_WK:NZ]
M]()G[<RR=%3Z2.5.[_TMKM:Z;.5D^6Z?M)FIW9JD']'X2D4JO@EN]OO_I/.U
ML6ECK&N;H\-!!=BVEXS;7P@7ZZ9:4YH9+6+3\T3W!OVKM<Q2,QY7-'CE02R
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MT*60N3#+3*\E^Y=9B0IDWIMM(?,]KF4E-K(4N1$42M(Z4RF06]565WN1@M:
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MOA2);@C@+5VO'5#UW',"/-PV%!JW.^D4V<Z&'EB_HC)&OPH96DL^"("/+&I
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MB.M^U\5"->&D6L6DC'3#XQ N)<T*+&-M8U\58"/WE3(&_DX3V@=Y+7UOYZ'
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M PS^6Q9/@WS^^?$*QO#]=^,T27Z ]T@O+!RG)@1;(:Q4W3"YA8H5)/)<MUB
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M#ROZF$#M#&B_5,KN)R[ X?-D_A=02P,$%     @ ,4CG4._8@E^J P  %@@
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M#7A'TK#"P\TN&F!_;6UXF<0 A[\"TV]02P,$%     @ ,4CG4&GOO2>+!@
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M+-) G$S^G*3]$;BC+(D&R5]0NN&.?BJUM2SGQFR1Y@TWA?4@UWQ;D4=0VD$
M6K+//9E*Y:U!C]1%P+KCS]KH.^EIFXI'*H=C57/8,FFA%(_ 9E!;6\+!%1/6
M2;!LYPE7JN8E$XM%*":O&; %"K7XL_;!)_6%M+F!/B:=J&R?S=Q^JG:B0J8;
M,XW19XT0"KZ&(_<>5+EEZ>A-GUWQ?,7^JKD!_LBK?C5L,EZO"UP5H=7D8D]!
M<4@F7W&U%!8"J+*J+KG_.?CO,P2E%2^$3X'Q-CA;:X>?)%!0?.XT2972;5N(
M!^P4-6XTN^-(46W9 BRIC0V)?9S--LW"I[)C*.Z"<N5[0E"@]C/OIR=^5+LI
M\0QX^MZB0ZW;"Z9$A3\@W:DN#YB:(:>@ ?5<4*I*F?-Y*3J^6M0E H#B0!RV
M@IO^+K%V9I^WL.&6I5E_\B906]8?OWG$L/3\.$\<(L.V%@L):>V: !ZB@WUK
MN#EF+)GNJU]SZ/\L"G1ZZ9'>.O**]$ME'2]+JA\;R#-)HV'+^&D:Q7'\>#:\
MGK;_.8PDBB?3Z+0#DHRBT5$DQX/?9S>ZJ=,-]8:'\L2/EY)(<?WTE+,%5?Z"
M=LN@B]+F2\F[\BJ2!5VMM<$FC%* *$9(+J@/W$:(T"->QC-5I>LF2MQ:X8*"
M4O(Y-;:$&-7*0BJN<NI[(Z#9VU[79JVM:"P2/S6J:MOPYRYO-X?[[%8NE5R@
MHT Q1/Q:M5DZU+M[8ZH%Z$\_61%F]1+4U<66<22&$_P2KP?VC'UN:OYK,RS\
M8GFVK^>QCD\'S+_="<Z[,W;S4D).PBZ6OL?5.)Y&V7#*9GENZL>3KSV6),-H
M--HQ;L2=4#4BG<19E )6DDVCR72$$WA=0EK"6XA? =:E\'=OTW&4P*-W[&TV
MCK)X@JL;K7[ A"D1?FC%"T#^'=#IN&495(Z!+,.2,!X.V1>$RK!L%&6CE&6D
M:^)=?9H0N#4Z'4;)-,85-I+),$JS\5ZKTKK@N!_*').@K!O$E!G4E6B96QTV
MH#T6AX'%9M??&&9R@87K4=G[HMC/WZ3?)7V'K9L^?)3J:&^:K_C>)B'#--2H
MJ%)^IY'MP1#'XL+MB6ZP#2%CB/+_A)\T!THX8IN5Q!1K]BW,0<PF(\OM:SI\
MGP5)H:6&(PS!;*C.;3OI#K50LQH!*;_CLO333=S)@HCB?8 %7J4S<P2?K0!2
M&YG[_K=X*VUV.:/_#*_ /OBXQ2+<6F]'##!9K6#!/Q)6B#!+:U>;=LVCW8K6
MBZ#\.2YH]A]22#ZW:R3Y",1Y65N/Q(@EPM12<1,27V]' H(D^KWB$-$5?C/<
MS7$P5_BH0_)9I>8A):6(6J($NR,00>.A9D"I*8W$8SW#8!:@;@LJ]^OG"T5;
M["_DKQH77?Z?9>SV7>:H'FP6D@C7=9L>]BT_=)92^7<%+/9I/!S[** %'QY-
MPHAI)OD!"$'DE09&3PV,O0'KUX.#'LY\_=[H.U'-$?-A?"B\]4.7M:\_<UX&
M^@J%]6+G'OHZ,-CYPE()L_3?D:BB,4O#QY;N:?>I:A:^T#P<#]^YKKE!+"PK
MQ0*B<?]TU&,F?#L*-TZO_?<:-+73E;]<">SXA@[@]X7&?M_<D('N ][E_P%0
M2P,$%     @ ,4CG4(=S>H3+)@  B(H  !D   !X;"]W;W)K<VAE971S+W-H
M965T,3@N>&ULW3W;<MM&EK^"\CJS<A5$\R)29.*X2I;MC&=MRR79DX>M?6@2
M31(Q"'#0@"CFZ_=<^@J"D&1[9V?W(;%( MVG3Y_[I?O%KBB_JK64572WR7+U
MZY-U56U_?OY<+=9R(U2OV,H<?ED6Y494\+%</5?;4HJ$7MIDSX?]_N3Y1J3Y
MDY<OZ+M/Y<L715UE:2X_E9&J-QM1[E_)K-C]^F3PQ'QQG:[6%7[Q_.6+K5C)
M&UE]V7XJX=-S.TJ2;F2NTB*/2KG\]<G%X.=7PR&^0$_\/94[Y?T=X5+F1?$5
M/[Q+?GW21XAD)A<5#B'@GUMY*;,,1P(X_J$'?6+GQ!?]O\WH;VGQL)BY4/*R
MR'Y/DVK]ZY/IDRB12U%GU76Q^ZO4"QKC>(LB4_3_:*>?[3^)%K6JBHU^&2#8
MI#G_*^XT(A[RPE"_0(AXSA,1E*]%)5Z^*(M=5.+3,!K^04NEMP&X-,==N:E*
M^#6%]ZJ7GZ[?W+SY^/GB\[NKC]'5V^C=Q\]OKM]]@'_?7EU_X*]//A59NDBE
M>O;B>05SXIO/%WK\5SS^\,CXL^A#D5=K%;W)$YF$[S\'6"W 0P/PJV'G@!_$
M/AH-XFC8'_8[AAO9]8]HN-%WK/\_+^:J*H%^_JMCPC,[X1E->'9DPE="I2HJ
MEM&G4BJ95P*)LPVOW<-\7LO(1T6T*'(%VY2(2B9 IYG(%S(BNHBC"AX.?E<P
MK03>J@@28/&2P%"1R!-X<@,,OD;.NY51FL-G&0'_TS#5NI22'LL!HFC#FRMQ
M<T-X\)%A?S"[=W:U%C!;D26R5'_YM^EP</Y+)/]1I]7^>R;%O^Z9>"'4.EJ"
M6%)VH@<.'ZT%8&8N91X!IK8 /Z!\'WVJ2QE=[A<9_+\HMP4C-3K!D7%EP_XO
MEX!;D>_IT^"79S0B#987%0\HZB0%6'L1[G"=ZX_A.I9I#MN;BLQ?$6Q45B>
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M8:H&CO#0Q2 UL14(]V@G%%@A)4P$XY3%IG67'BQ%>AT:;FPUW+A3-5W+128
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M82/]2GZ?D9-++^J42+4HTSF'96 #"!00=^ '@AT.4K+7BWZW@#M&_=T!?L.
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MOP?H8=S_/J!G3:"18156UR1'1% H,GUQ*(@?@Y2_)5(2BQHJ%<JMQKJ58P.
M'OS:E0FDFQ(#%. &-S87Z*]J"^9392 \8>E@2]T:H5;]'OQ+U1]56G'L#@M%
MP:ZIM1OY+&8+11CD'  0BL>%*Y;V\_!@RX*] =ND\X"L:9=4LM.YI*:X!26Q
M S6KUNG6I+])^.E' PQL,809RD(,I"YD@ N4MC+<ZN9(O>B57 @,*/IB]23M
MR9YN)]"F'KCQXBL;2CY4I'0JO99255;"4VE(/5>P1U3UX)46</5H@U3T SX8
M-BU'DS1L-'@:*%%1I9T_CC"A/>0-RU<VN4Y$:]XU\4J3)M0ZL377SKEG77K
M27=34TQO]*(+(GB>D)E4<IS9&.88PJ@R'F(N*4\G*9^K4X@N#A36'>L\C)\F
M9%)S%K\6+\&TC:K%/W7YM)_>L86&^EE8!+UZ7&E@T:V=3B>#, )E&1S7B_FZ
M.XH.@WWW=#BP_AX;P*WB1-=VZ&B"3[+#V8B)GF,FNR*0A\IS[AH3#Z:]B9W:
M0\B.(F\6*2V5%T&-TN/H@.B.JLL/C2NSDL>8%HWNG@/#*XF>3F:3>-CG)Y_.
M1M-X !^X'*997!+ZQ3UL(7BH?]T-PS2>3";QU$ QBF>3,=D+#X/C<X/$FH3I
M%_YXPY&Z' _U\@](MQ&5"!*U^ T2"D6L_&2)D=F8*5'$>UGFF7' 07;#F8\M
M.^ALRF!H,"F6Y.PVY#YY$IX,;A0I)<66.U.DS3TQC26I,0UUXHHZ571V5M=A
MFR7F\K"V6;2]Y])N#JW:J/9A=C^F*EA_L0#^,"M'6X5Z3VP]*BG8:[]2^M(R
MR:=ZCF'$=[YF\#,6>\SZ&+->8<N7-4NH*J#AH!%E7KR*S1_-2@U;!6_W4@]D
M,$\XHAVX1>';KJ:PQLO4FEO9X!%GH*.H_( 6&:@_'2WDY%X%7JR!&+YYKAG2
M>:<F:(.H5YA,*+ LEX*EIB(&"U4Q;,#(,87I\G!U0,E$"%3?X.12N.*@GMY%
M<WP[ 5C8\^(0+E)7I)-0!M\*,A!P7@VN<GGQPI9@$4%X%>$QO6&3Z6TE]L;B
M?0">@\(*_W%5;RDN)%RP0T>]"$"O<8(#05PUD^K\OE\,";MP4-_IRCM[AS^V
ME#1>D1.J*R<Z1M/19?W@!;8>FF:(G8TM(6I<=]<T>OOVXJ(M$F5RLY/67&&#
M\Z[\%JY9X-\ T2JJ9Q%WI_).;K9@F2S3.^0)5)9*YBELF"59YEN='S/]?\*L
MA'VV07PV&I/_0WY[<^!3'KB>@Q%#^:+'C1Z?3WCP$ZSI<@%B#W&O<#R7/OAB
M;'=+YIKLZ;DC?M[30;\W=H%OQ1E5CZ2=GV^9SQ_([Z]")&\;PL]N+GZ!,=.'
M,H49P(M^E9@8J4 )7_&Z0MCMDD)!&(/9X07R&R:5P)P2-S.CS18NFCN$FFQP
MXN>>]\\Z.8%=K$^'_&ICU-UOWW(DM$L@= WP$*[N8*='J,/.XO$O.87U6H2D
M3TES++"]]5)=MUKNN@[&+OJ*0Y^!0@(D.;QR W^D7O2FK82ND5:4)08B%*DP
M4R]KS6YB2Z^1";\MVV?K:'^BO&-=J4IP0J$-37Y!3*I5H9:I:EW4(-?FTJC"
MI%F+Q$TP?,0&!4!1N[;,TO0@8F> $)<?K(?,C&.0&_@._31-2@<.RR<S&S85
MIL3'.--'61US<=HH\6DT'(-@'L1CD)U/HT$?_F!!"A_.XAG8X/C+Q6)1UJ1?
M. T3#>+^>!C/X"=2-,-?O&^Z&'@0C\X'\21XSWQS'^^.IP-R@<R;YO-G<M=:
MM@@6-X7%G=-3S<6=Q[/1D-_W2)AM8,5A)32!A<NAPR1/1YX(]5,E$GON3'5]
M!I_ 6B:3F9MAJ<B]J^OAB$BWL6ZNAB5;)1KW)SK;H2TZ#3#Y+%HB)TW AP/G
M-/<.C&Z]_']7Q\UO%_3FT(:VOHWZ -*CY[7_YQNLWHY\JXE,KATWKF$_"QG,
MFSI/V1#XP::SU=RZ3")I]PXX$.66&+;IF:)TF?C%0XV(!9]=H9RXTB<7 *Z]
MO3O^/KI"YLR)GJN\Y];2.6;&5F;#A$ECJ9\;E4V)YSPWPE'-@R?<\1VP]D93
M?5"(W!B&ZCA]"()!F]WYNC(M!H)>I7FN/1)6.,"YAOW=7WX2%9W:IG8UZ&I
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M?[(].6'F"DE*WE4NM-S96^,.9!N,?FC+^7<,]]B><VQ@Q!X#W(\'M9XW"SQ
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M?7:5:,E4GT8 D)F@ W5:N:HT;?A^*-"X3I=<7)!E,:M6+.C@(WY=6 0'(-O
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MJYRJ3\.>!HU&KI<VZ-,:W?\ /4%/@NNM0@\\H]FI? \L/9KKM^9._:N 3^2
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M%-K,AC,WYO5":0/,^4H8K:UC!Z1[#Y/_4$L#!!0    ( #%(YU"6J."&]@$
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MU3TO%FFN?!J=1*1!'<$W2B+:F<[=R/O*)"(+^@;4D4,-OL@-OO,X23.Y39"
M.J_RA4):%?99\E>5ELWVH=L^C4JOQE#DOU5Z-3HA-UI<;NFWD"FV(? !?6J"
M38,!+]?;CT"#%'*#U!53$2S #QE  ;Z7"FC'I%V##G(/N:_>("*-/L@]]3:^
M+UB6/M:Q2#IO#F&:H=*^73YOC4:[:QP=H1X_6J0B>A1Y._]Z<]_,HH+1D=\C
M2XL4DF(#\RS2L(G<L+E/F$]U:NHA9RFAGZ=9W6ZKN%1<FG&Y;F5!K.EQ/\8;
M6+D7!_0B/+CDW8I#>O,#>B$YT"M8XS]VX__A?3<V1_XH"/R@MZ@L8C@BM"<V
MLX@A'$2DMT;G%CE( A@,K"6L&0F[MQE-8]W%&S!G;!3;8<U,^+T.CG9.CMQ<
M,Z)>YL0>$A3V)]L+BUR$(M_80EGD<&\'T);,%(2NW0W6-(?=6X4?<2G8T\L+
MISD/DW<JG"8E[":E$86CEOPA:!;.)H>- L\L<M0S]\ASBQPB% ^63=,D/C";
MRXU-*H-NYZ/G;CJZZ4XC1I51DR9VC^RO+Z.F(NR&WA%E-(=UHX('16:'1>9.
MD?VS8$T'_L&3H[+*A"K2V"[S-?3Z[LW J\OC:P3VW7N#P^5I#>QUC]D\%Q8Q
M25-&C]FL>;Z)C38Y/T1#/>9K/O#=?/"%"W ;9R-+M7,IX-Y8O+Y4&G/]__?$
MOS6P!V 1A8%1*U,.!5[H1?TC?XL@E!2%"<+]>ED>+>5H,%0PS0.^FP=TP7[=
MV14^I>(!7%=%\A"7DN7&U%+#L/].NQ5? Z_OWJV,J*5YYFZ4,;1LT -ST)A9
M!%&(96V,KK,(>L'P1.)K&O"C-]IX$XV]Q(V]K[Y"N&@-[ZWK_FW709&Y4V0_
M)@WYQ#UMZYB6:9Z6#Y+Q,RY*4/)L(0.3S6"-QSRU1_U[+HN,;T1DL1,-A*0I
MAK@IQM' VQJ-Z5^B(9[@]^E?HN&>N ?L$;>OYHVOQ&)D\"8QS\LC'!I#[,PB
M%U)*#2*>6P1Q1$DPU,-DY\;934 ONW\E%I(AR,S ;(3@OL.:.@A]*]#1Y$#<
M,_JU]0I+]:CM/*,UM@>HT'/L\8BF$.*FD-=?H!*36@8N(XG&=S+V.G>3Q4*,
M@JT9,0=R% T<6%!-"W0L+;P 0F?4!/-A7S2<4S><O_1BF5KN:4/J6"]4PS!]
M.QB6:;J*?Z;K:CT&F:E&9NI&YO$-23444S<4S[;7@>W9[S/8L"+ES5EG5WAK
MLMV&(7AF<>'R42,G/7"!6?#_2"=E4O-XU23^EA6/:3)N&T)W?B'S5HA'->)1
M-^+I?BH;GT&\73X*;;JU9$UQ,!9JJ 8^Z@:^;3+7.IE+QE35VS-OJR-NFX?.
MAZD&0GK@Z-WTKMR6^E<0)TE1U0S:7%+']Y(_FKLXZV^8(A,.< "IP:$C!)MX
MICL_.%6_6+Z*BU6:ER!C2ZGI'06R5$7S(^#F@^";^C>H]UP(OJ[?/K!8HH42
MD']?<BZV']3/6KN?8I_^#U!+ P04    "  Q2.=0RR&KB/P#  #^$0  &0
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M.DE)0.!V&H5+HM*FG<N:Z:%_@B6R\UA&O.N]^5@Y7ZWS?J5I010X7K/WNA]
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M@0(2XETBE^SP@Q3U-%4\GR5"_Z)#X6L9R-\)R=("#!FD,<V?^%CH< : .-4
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M))SO>AG!1P'AR@'>AXS)TT81E)\9_7]02P,$%     @ ,4CG4%+?68P7 P
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M*[]FF?,,<LUE3A0L>EZ_=3WHVG@7\)W#5C?FQ&8RD_+5+H;SGA=80R @1<O
MS+"! 0AAB8R-7Q6G5TM:8'/^SG[O<C>YS)B&@10_^!Q7/:_KD3DL6"%P(K=?
MH<HGLGRI%-H]R;:*#3R2%AIE5H&-@XSGY<C>JCHT *WP (!6 /HGH'T $%:
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M-%K2H@+PWQ_SG.U/J@&Z+TBN_@=02P,$%     @ ,4CG4(HK9--X"    2H
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MLJLV@&1+\+RAX+<D3?.BX^I'1N^@YIWO>]BSN:C*HX_<G<')CFP8!=<%8-^
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MF/QPWO!P(=BN/%"W8$*P;?ES0XD$8R$@GZ\8$^\7A8'ZU.?5_P%02P,$%
M  @ ,4CG4%*/3Q-S!   6!   !D   !X;"]W;W)K<VAE971S+W-H965T-#(N
M>&ULK5AM;^(X$/XK%K=WVI6Z39P07O8H$A2N5XD65-K=#Z?[8!(#UB8Q:YM2
MI/OQ-W9"> N&KE:J2AQF'L\\,_9CTUIQ\5W.*57H+8E3>5.9*[7XXC@RG-.$
MR&N^H"E\,^4B(0J&8N;(A: D,DY)['BN6W,2PM)*NV7>C42[Q9<J9BD="227
M24+$NDMCOKJIX,KFQ1.;S95^X;1;"S*C8ZI>%B,!(Z= B5A"4\EXB@2=WE0Z
M^$L/-[2#L?C*Z$KN/".=RH3S[WIP']U47!T1C6FH- 2!CU=Z2^-8(T$</W+0
M2C&G=MQ]WJ#_99*'9"9$TEL>?V.1FM]4&A44T2E9QNJ)K_ZF>4*!Q@MY+,U_
MM,ILZS!CN)2*)[DSC!.69I_D+2=BQ\$+3CAXN8-WJ8.?._B'#J="JN8.5<-,
MEHKAH4<4:;<$7R&AK0%-/Q@RC3>DSU)=][$2\"T#/]4>#!_O/C_WGQ[0L#NX
MO^L\WP\?QZCSV$/#4?\)AH]W:-#OC/M7:$"!7W3+DX0IJ+R2Z&./*L)B^:GE
M*(A%(SIA/F\WF]<[,:^/'GBJYA+UTXA&)?ZW=O^FQ=\!#@HBO T17<\*^$#6
MR,=7R',]]V7<0Q\_?)JJ/W[#]<:?9=']2K">':RSG%WG:+B9HUD2]HO*^P;6
M/U7YHW+^TYE()6 E_FN!KQ;P50-?/14U[$*(3^%ORD**2!JA%1%TSI<PZW_(
M0D<W PX,L-ZW7ML8^TV_Y;SN5N"<U5[401%U8(UZN*""*);.4&SH450D92':
M47RTID3(LK[Y"<>]1&I%(C4KDED=\=KLB; _I\K48C^[LO@RU-H.J[6:ZY:3
M6B]BJ;^+5/JF<N$X1:\=SSM-[T\X[J74*%)J6)%&5(1 *BBCYI6EH3"9L10M
M!-,"FA&_(&N]M!#H\R7DV^?$WG7@_FX)OED$WWQG/> 441I1MWG4#A[V=_HA
MB_O8JN8W3W4-=K?2Y%KC'"\G68"Z?TFL:>9):9@YT.YF<!BCU60_P!WMQ/8N
MR,M+9G# DBJGDT]B-B/Z5'-U0=&[^1Q[&UFS<<1QB5G0#$Z2[&US\*PR\#1\
MR96](R4%%= [=?9BP,B$Q4PQ>J$VX*WV8/\]+2C19R3T"4VO)BT0Q,122I=_
MQ .TI!=XAWQ=9M?+[6H7],56^O 9[0M#OM2*"NN?0 \;3DD8BB6-4+QEM32_
M8UVK@^[CP_3.F>V'OM4_;%>@P4$+Z\H<-+&\0BDUE0J7PDC+@@MM6YI.<-S=
M5=?'C<-\+K/KY7:7E&LKE=BNE<]<[R[9XMU49UV:S+$Z>M@-W.9A,F?M]B/=
M"BFV"]@W<XV!)B*O4)*9WAGUW>[\>>4,;BZ,J(&2[%2-/121=:G$_A*H_?RW
MJHOM$GB4?\2D66H(&K1\=[4#UJ[=0TG-LWRW7Y:2LW,52ZB8F2NM1";([%96
MO"VNS1US672VYMF=^X&(&<@*5'8*KNYU'5I?9-?8;*#XPESL)ES!-=$\SN'J
M3X4V@.^GG*O-0$]0_)C0_A]02P,$%     @ ,4CG4"W'ZB A!P  P24  !D
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M%?CO+W',WF]2!\7AN>&_4$L#!!0    ( #%(YU!PE8QG_@(  +X(   9
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MY7P+5,'QHB,K)I(M3<LQ9E(U,&:X4%TL<&V@OL\8D]N))JCZXNX_4$L#!!0
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MT@'7'4B+ RD=2-W!:W%P2@>GZPANZ>#6'9P6!Z]T\/+:%\7**SVEDHZ&(CD
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MWU]Y#!$.XY#7[(ZI"B2BYBJ"EST$[/ MC6"PNH3 TMV*%$?PZ>SCKUJHFP_
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M[!\X)36[[K,>S$*XK,'^;J87K-J&PXLZ_@-02P,$%     @ ,4CG4)>*NQS
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M<49U271_SC)7]86Y+]/=Y;.(RR<=G_X 4$L#!!0    ( #%(YU"AE^J4R0$
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MIY]02P$"% ,4    "  Q2.=0!T%-8H$   "Q    $               @ $
M    9&]C4')O<',O87!P+GAM;%!+ 0(4 Q0    ( #%(YU!'[WE@[@   "L"
M   1              "  :\   !D;V-0<F]P<R]C;W)E+GAM;%!+ 0(4 Q0
M   ( #%(YU"97)PC$ 8  )PG   3              "  <P!  !X;"]T:&5M
M92]T:&5M93$N>&UL4$L! A0#%     @ ,4CG4/[L^IJ] P  D@T  !@
M         ("!#0@  'AL+W=O<FMS:&5E=',O<VAE970Q+GAM;%!+ 0(4 Q0
M   ( #%(YU!'@>_.9@<  )@<   8              " @0 ,  !X;"]W;W)K
M<VAE971S+W-H965T,BYX;6Q02P$"% ,4    "  Q2.=00R<BQ?8"  "M"0
M&               @(&<$P  >&PO=V]R:W-H965T<R]S:&5E=#,N>&UL4$L!
M A0#%     @ ,4CG4$AI%DQY"0  >2L  !@              ("!R!8  'AL
M+W=O<FMS:&5E=',O<VAE970T+GAM;%!+ 0(4 Q0    ( #%(YU"B^\PLJ @
M ,LV   8              " @7<@  !X;"]W;W)K<VAE971S+W-H965T-2YX
M;6Q02P$"% ,4    "  Q2.=0 #=QY.D'  "]'P  &               @(%5
M*0  >&PO=V]R:W-H965T<R]S:&5E=#8N>&UL4$L! A0#%     @ ,4CG4-LH
M*NJN)P  WH4  !@              ("!=#$  'AL+W=O<FMS:&5E=',O<VAE
M970W+GAM;%!+ 0(4 Q0    ( #%(YU!IGK>WRP8  /X0   8
M  " @5A9  !X;"]W;W)K<VAE971S+W-H965T."YX;6Q02P$"% ,4    "  Q
M2.=0CD;/;W %  !7#@  &               @(%98   >&PO=V]R:W-H965T
M<R]S:&5E=#DN>&UL4$L! A0#%     @ ,4CG4!!9JB)"#0  &2,  !D
M         ("!_V4  'AL+W=O<FMS:&5E=',O<VAE970Q,"YX;6Q02P$"% ,4
M    "  Q2.=0PZ@@#4\'  #2$P  &0              @(%X<P  >&PO=V]R
M:W-H965T<R]S:&5E=#$Q+GAM;%!+ 0(4 Q0    ( #%(YU#7+?^0S@L  %X@
M   9              " @?YZ  !X;"]W;W)K<VAE971S+W-H965T,3(N>&UL
M4$L! A0#%     @ ,4CG4 N%54W^!   LQ(  !D              ("! X<
M 'AL+W=O<FMS:&5E=',O<VAE970Q,RYX;6Q02P$"% ,4    "  Q2.=0IE!I
MIV\#  "J"   &0              @($XC   >&PO=V]R:W-H965T<R]S:&5E
M=#$T+GAM;%!+ 0(4 Q0    ( #%(YU#OV()?J@,  !8(   9
M  " @=Z/  !X;"]W;W)K<VAE971S+W-H965T,34N>&UL4$L! A0#%     @
M,4CG4&GOO2>+!@  <1   !D              ("!OY,  'AL+W=O<FMS:&5E
M=',O<VAE970Q-BYX;6Q02P$"% ,4    "  Q2.=0[OD4;BP'  #,$P  &0
M            @(&!F@  >&PO=V]R:W-H965T<R]S:&5E=#$W+GAM;%!+ 0(4
M Q0    ( #%(YU"'<WJ$RR8  (B*   9              " @>2A  !X;"]W
M;W)K<VAE971S+W-H965T,3@N>&UL4$L! A0#%     @ ,4CG4/\G)U>F!
MM@L  !D              ("!YL@  'AL+W=O<FMS:&5E=',O<VAE970Q.2YX
M;6Q02P$"% ,4    "  Q2.=0O:F16!0#  #$!@  &0              @('#
MS0  >&PO=V]R:W-H965T<R]S:&5E=#(P+GAM;%!+ 0(4 Q0    ( #%(YU %
MJ'0KR0,  (4(   9              " @0[1  !X;"]W;W)K<VAE971S+W-H
M965T,C$N>&UL4$L! A0#%     @ ,4CG4)#GF=TF!0  A@L  !D
M     ("!#M4  'AL+W=O<FMS:&5E=',O<VAE970R,BYX;6Q02P$"% ,4
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M+GAM;%!+ 0(4 Q0    ( #%(YU"6J."&]@$  / #   9              "
M@:?H  !X;"]W;W)K<VAE971S+W-H965T,C<N>&UL4$L! A0#%     @ ,4CG
M4%G^)AGK 0  U ,  !D              ("!U.H  'AL+W=O<FMS:&5E=',O
M<VAE970R."YX;6Q02P$"% ,4    "  Q2.=0SBP2RB@)  "6+0  &0
M        @('V[   >&PO=V]R:W-H965T<R]S:&5E=#(Y+GAM;%!+ 0(4 Q0
M   ( #%(YU#+(:N(_ ,  /X1   9              " @57V  !X;"]W;W)K
M<VAE971S+W-H965T,S N>&UL4$L! A0#%     @ ,4CG4%I7TS6^!0  HAD
M !D              ("!B/H  'AL+W=O<FMS:&5E=',O<VAE970S,2YX;6Q0
M2P$"% ,4    "  Q2.=0/;0)9>X"  !%"   &0              @(%]  $
M>&PO=V]R:W-H965T<R]S:&5E=#,R+GAM;%!+ 0(4 Q0    ( #%(YU""]D%H
M&@4   86   9              " @:(# 0!X;"]W;W)K<VAE971S+W-H965T
M,S,N>&UL4$L! A0#%     @ ,4CG4'JCU%-, @  :P4  !D
M ("!\P@! 'AL+W=O<FMS:&5E=',O<VAE970S-"YX;6Q02P$"% ,4    "  Q
M2.=0,N.P!?$"  !R"   &0              @(%V"P$ >&PO=V]R:W-H965T
M<R]S:&5E=#,U+GAM;%!+ 0(4 Q0    ( #%(YU!2WUF,%P,  'D*   9
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M970T,"YX;6Q02P$"% ,4    "  Q2.=0BBMDTW@(   !*@  &0
M    @(%9(P$ >&PO=V]R:W-H965T<R]S:&5E=#0Q+GAM;%!+ 0(4 Q0    (
M #%(YU!2CT\3<P0  %@0   9              " @0@L 0!X;"]W;W)K<VAE
M971S+W-H965T-#(N>&UL4$L! A0#%     @ ,4CG4"W'ZB A!P  P24  !D
M             ("!LC ! 'AL+W=O<FMS:&5E=',O<VAE970T,RYX;6Q02P$"
M% ,4    "  Q2.=0X!LMAVH$  #C$   &0              @($*. $ >&PO
M=V]R:W-H965T<R]S:&5E=#0T+GAM;%!+ 0(4 Q0    ( #%(YU#L9&RTM@8
M $8@   9              " @:L\ 0!X;"]W;W)K<VAE971S+W-H965T-#4N
M>&UL4$L! A0#%     @ ,4CG4*)P-YRJ!0  2"<  !D              ("!
MF$,! 'AL+W=O<FMS:&5E=',O<VAE970T-BYX;6Q02P$"% ,4    "  Q2.=0
M<)6,9_X"  "^"   &0              @(%Y20$ >&PO=V]R:W-H965T<R]S
M:&5E=#0W+GAM;%!+ 0(4 Q0    ( #%(YU"]0*%46@,  ",+   9
M      " @:Y, 0!X;"]W;W)K<VAE971S+W-H965T-#@N>&UL4$L! A0#%
M  @ ,4CG4.;]6.)R P  *@P  !D              ("!/U ! 'AL+W=O<FMS
M:&5E=',O<VAE970T.2YX;6Q02P$"% ,4    "  Q2.=0!\R#D=("  "B"
M&0              @('H4P$ >&PO=V]R:W-H965T<R]S:&5E=#4P+GAM;%!+
M 0(4 Q0    ( #%(YU!XA3PPB@4  *@:   9              " @?%6 0!X
M;"]W;W)K<VAE971S+W-H965T-3$N>&UL4$L! A0#%     @ ,4CG4"SE<HU&
M @  7@L   T              ( !LEP! 'AL+W-T>6QE<RYX;6Q02P$"% ,4
M    "  Q2.=0EXJ[',     3 @  "P              @ $C7P$ 7W)E;',O
M+G)E;'-02P$"% ,4    "  Q2.=0OV!T\EL$  !6(@  #P
M@ $,8 $ >&PO=V]R:V)O;VLN>&UL4$L! A0#%     @ ,4CG4*&7ZI3) 0
MH!X  !H              ( !E&0! 'AL+U]R96QS+W=O<FMB;V]K+GAM;"YR
M96QS4$L! A0#%     @ ,4CG4"BT:!/# 0  B1X  !,              ( !
ME68! %M#;VYT96YT7U1Y<&5S72YX;6Q02P4&     #L .P 4$   B6@!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.20.2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>303</ContextCount>
  <ElementCount>424</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>true</FootnotesReported>
  <SegmentCount>81</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>21</UnitCount>
  <MyReports>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>000100 - Document - Document and Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/DocumentAndEntityInformation</Role>
      <ShortName>Document and Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>010000 - Statement - CONSOLIDATED BALANCE SHEETS (unaudited)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ConsolidatedBalanceSheetsUnaudited</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS (unaudited)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>010100 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) (unaudited)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ConsolidatedBalanceSheetsParentheticalUnaudited</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS (Parenthetical) (unaudited)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R4.htm</HtmlFileName>
      <LongName>020000 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveIncomeUnaudited</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>4</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R5.htm</HtmlFileName>
      <LongName>030000 - Statement - CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ConsolidatedStatementOfShareholdersEquityUnaudited</Role>
      <ShortName>CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>5</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R6.htm</HtmlFileName>
      <LongName>040000 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ConsolidatedStatementsOfCashFlowsUnaudited</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>6</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R7.htm</HtmlFileName>
      <LongName>060100 - Disclosure - PRESENTATION OF INTERIM INFORMATION</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformation</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>7</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R8.htm</HtmlFileName>
      <LongName>060200 - Disclosure - FAIR VALUE MEASUREMENTS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/FairValueMeasurements</Role>
      <ShortName>FAIR VALUE MEASUREMENTS</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>8</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R9.htm</HtmlFileName>
      <LongName>060300 - Disclosure - WATER AND LAND ASSETS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/WaterAndLandAssets</Role>
      <ShortName>WATER AND LAND ASSETS</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>9</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R10.htm</HtmlFileName>
      <LongName>060400 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/LongtermObligationsAndOperatingLease</Role>
      <ShortName>LONG-TERM OBLIGATIONS AND OPERATING LEASE</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>10</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R11.htm</HtmlFileName>
      <LongName>060500 - Disclosure - SHAREHOLDERS' EQUITY</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ShareholdersEquity</Role>
      <ShortName>SHAREHOLDERS' EQUITY</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>11</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R12.htm</HtmlFileName>
      <LongName>060600 - Disclosure - RELATED PARTY TRANSACTIONS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/RelatedPartyTransactions</Role>
      <ShortName>RELATED PARTY TRANSACTIONS</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>12</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R13.htm</HtmlFileName>
      <LongName>060700 - Disclosure - SIGNIFICANT CUSTOMERS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/SignificantCustomers</Role>
      <ShortName>SIGNIFICANT CUSTOMERS</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>13</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R14.htm</HtmlFileName>
      <LongName>060800 - Disclosure - ACCRUED LIABILITIES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/AccruedLiabilities</Role>
      <ShortName>ACCRUED LIABILITIES</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>14</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R15.htm</HtmlFileName>
      <LongName>060900 - Disclosure - COMMITMENTS AND CONTINGENCIES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/CommitmentsAndContingencies</Role>
      <ShortName>COMMITMENTS AND CONTINGENCIES</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>15</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R16.htm</HtmlFileName>
      <LongName>061000 - Disclosure - SEGMENT INFORMATION</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/SegmentInformation</Role>
      <ShortName>SEGMENT INFORMATION</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>16</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R17.htm</HtmlFileName>
      <LongName>061100 - Disclosure - INCOME TAXES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/IncomeTaxes</Role>
      <ShortName>INCOME TAXES</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>17</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R18.htm</HtmlFileName>
      <LongName>070100 - Disclosure - PRESENTATION OF INTERIM INFORMATION (Policies)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationPolicies</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION (Policies)</ShortName>
      <MenuCategory>Policies</MenuCategory>
      <Position>18</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R19.htm</HtmlFileName>
      <LongName>080100 - Disclosure - PRESENTATION OF INTERIM INFORMATION (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationTables</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/PresentationOfInterimInformation</ParentRole>
      <Position>19</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R20.htm</HtmlFileName>
      <LongName>080200 - Disclosure - FAIR VALUE MEASUREMENTS (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/FairValueMeasurementsTables</Role>
      <ShortName>FAIR VALUE MEASUREMENTS (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/FairValueMeasurements</ParentRole>
      <Position>20</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R21.htm</HtmlFileName>
      <LongName>080300 - Disclosure - WATER AND LAND ASSETS (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/WaterAndLandAssetsTables</Role>
      <ShortName>WATER AND LAND ASSETS (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/WaterAndLandAssets</ParentRole>
      <Position>21</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R22.htm</HtmlFileName>
      <LongName>080400 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseTables</Role>
      <ShortName>LONG-TERM OBLIGATIONS AND OPERATING LEASE (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/LongtermObligationsAndOperatingLease</ParentRole>
      <Position>22</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R23.htm</HtmlFileName>
      <LongName>080500 - Disclosure - SHAREHOLDERS' EQUITY (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ShareholdersEquityTables</Role>
      <ShortName>SHAREHOLDERS' EQUITY (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/ShareholdersEquity</ParentRole>
      <Position>23</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R24.htm</HtmlFileName>
      <LongName>081000 - Disclosure - SEGMENT INFORMATION (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/SegmentInformationTables</Role>
      <ShortName>SEGMENT INFORMATION (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/SegmentInformation</ParentRole>
      <Position>24</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R25.htm</HtmlFileName>
      <LongName>081100 - Disclosure - INCOME TAXES (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/IncomeTaxesTables</Role>
      <ShortName>INCOME TAXES (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/IncomeTaxes</ParentRole>
      <Position>25</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R26.htm</HtmlFileName>
      <LongName>090100 - Disclosure - PRESENTATION OF INTERIM INFORMATION, CARES Act (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationCaresActDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, CARES Act (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>26</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R27.htm</HtmlFileName>
      <LongName>090102 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Land Development Inventories (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationLandDevelopmentInventoriesDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Land Development Inventories (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>27</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R28.htm</HtmlFileName>
      <LongName>090104 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Investments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationInvestmentsDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Investments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>28</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R29.htm</HtmlFileName>
      <LongName>090106 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Revenue Recognition (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationRevenueRecognitionDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Revenue Recognition (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>29</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R30.htm</HtmlFileName>
      <LongName>090108 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Reimbursable Costs Incurred to Date (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationReimbursableCostsIncurredToDateDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Reimbursable Costs Incurred to Date (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>30</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R31.htm</HtmlFileName>
      <LongName>090110 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Changes in Contract Asset and Deferred Revenue (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationChangesInContractAssetAndDeferredRevenueDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Changes in Contract Asset and Deferred Revenue (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>31</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R32.htm</HtmlFileName>
      <LongName>090112 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Oil and Gas Lease Payments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationOilAndGasLeasePaymentsDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Oil and Gas Lease Payments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>32</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R33.htm</HtmlFileName>
      <LongName>090114 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Deferred Revenue (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationDeferredRevenueDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Deferred Revenue (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>33</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R34.htm</HtmlFileName>
      <LongName>090116 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationCapitalizedCostsOfWaterAndWastewaterSystemsAndDepletionAndDepreciationOfWaterAssetsDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Capitalized Costs of Water and Wastewater Systems and Depletion and Depreciation of Water Assets (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>34</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R35.htm</HtmlFileName>
      <LongName>090118 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Share-Based Compensation (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationSharebasedCompensationDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Share-Based Compensation (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>35</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R36.htm</HtmlFileName>
      <LongName>090120 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Income Taxes (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationIncomeTaxesDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Income Taxes (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>36</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R37.htm</HtmlFileName>
      <LongName>090122 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Earnings per Common Share (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationEarningsPerCommonShareDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Earnings per Common Share (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>37</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R38.htm</HtmlFileName>
      <LongName>090124 - Disclosure - PRESENTATION OF INTERIM INFORMATION, Recently Issued Accounting Pronouncements (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/PresentationOfInterimInformationRecentlyIssuedAccountingPronouncementsDetails</Role>
      <ShortName>PRESENTATION OF INTERIM INFORMATION, Recently Issued Accounting Pronouncements (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>38</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R39.htm</HtmlFileName>
      <LongName>090200 - Disclosure - FAIR VALUE MEASUREMENTS (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/FairValueMeasurementsDetails</Role>
      <ShortName>FAIR VALUE MEASUREMENTS (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/FairValueMeasurementsTables</ParentRole>
      <Position>39</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R40.htm</HtmlFileName>
      <LongName>090300 - Disclosure - WATER AND LAND ASSETS (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/WaterAndLandAssetsDetails</Role>
      <ShortName>WATER AND LAND ASSETS (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/WaterAndLandAssetsTables</ParentRole>
      <Position>40</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R41.htm</HtmlFileName>
      <LongName>090400 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE, Long-Term Obligations (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLongtermObligationsDetails</Role>
      <ShortName>LONG-TERM OBLIGATIONS AND OPERATING LEASE, Long-Term Obligations (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>41</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R42.htm</HtmlFileName>
      <LongName>090402 - Disclosure - LONG-TERM OBLIGATIONS AND OPERATING LEASE, Lease Commitments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/LongtermObligationsAndOperatingLeaseLeaseCommitmentsDetails</Role>
      <ShortName>LONG-TERM OBLIGATIONS AND OPERATING LEASE, Lease Commitments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>42</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R43.htm</HtmlFileName>
      <LongName>090500 - Disclosure - SHAREHOLDERS' EQUITY, Equity Compensation Plan (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ShareholdersEquityEquityCompensationPlanDetails</Role>
      <ShortName>SHAREHOLDERS' EQUITY, Equity Compensation Plan (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>43</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R44.htm</HtmlFileName>
      <LongName>090502 - Disclosure - SHAREHOLDERS' EQUITY, Combined Activity and Value of Non-vested Options (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/ShareholdersEquityCombinedActivityAndValueOfNonvestedOptionsDetails</Role>
      <ShortName>SHAREHOLDERS' EQUITY, Combined Activity and Value of Non-vested Options (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>44</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R45.htm</HtmlFileName>
      <LongName>090600 - Disclosure - RELATED PARTY TRANSACTIONS (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/RelatedPartyTransactionsDetails</Role>
      <ShortName>RELATED PARTY TRANSACTIONS (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/RelatedPartyTransactions</ParentRole>
      <Position>45</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R46.htm</HtmlFileName>
      <LongName>090700 - Disclosure - SIGNIFICANT CUSTOMERS (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/SignificantCustomersDetails</Role>
      <ShortName>SIGNIFICANT CUSTOMERS (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/SignificantCustomers</ParentRole>
      <Position>46</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R47.htm</HtmlFileName>
      <LongName>090800 - Disclosure - ACCRUED LIABILITIES (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/AccruedLiabilitiesDetails</Role>
      <ShortName>ACCRUED LIABILITIES (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/AccruedLiabilities</ParentRole>
      <Position>47</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R48.htm</HtmlFileName>
      <LongName>091000 - Disclosure - SEGMENT INFORMATION, Revenue by Segments (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/SegmentInformationRevenueBySegmentsDetails</Role>
      <ShortName>SEGMENT INFORMATION, Revenue by Segments (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>48</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R49.htm</HtmlFileName>
      <LongName>091002 - Disclosure - SEGMENT REPORTING, Wholesale Water and Wastewater Services and Land Development Pretax Income (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/SegmentReportingWholesaleWaterAndWastewaterServicesAndLandDevelopmentPretaxIncomeDetails</Role>
      <ShortName>SEGMENT REPORTING, Wholesale Water and Wastewater Services and Land Development Pretax Income (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>49</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R50.htm</HtmlFileName>
      <LongName>091004 - Disclosure - SEGMENT REPORTING, Corporate Assets (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/SegmentReportingCorporateAssetsDetails</Role>
      <ShortName>SEGMENT REPORTING, Corporate Assets (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>50</Position>
    </Report>
    <Report instance="pcyo-20200531.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R51.htm</HtmlFileName>
      <LongName>091100 - Disclosure - INCOME TAXES (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://purecyclewater.com/role/IncomeTaxesDetails</Role>
      <ShortName>INCOME TAXES (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://purecyclewater.com/role/IncomeTaxesTables</ParentRole>
      <Position>51</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File>pcyo-20200531.xml</File>
    <File>pcyo-20200531.xsd</File>
    <File>pcyo-20200531_cal.xml</File>
    <File>pcyo-20200531_def.xml</File>
    <File>pcyo-20200531_lab.xml</File>
    <File>pcyo-20200531_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2019-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://fasb.org/srt/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://fasb.org/us-gaap/2020-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>70
<FILENAME>0001140361-20-015476-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001140361-20-015476-xbrl.zip
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MCK%&67^-?/3I=8PUFGWJ-:O#ZO)9U,IKU&.V(\U^DDV>-=#, _:;/@%EV%$
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MQ*3QDZ<CI^;[Z<KI7F5H6T69)6@CISORQ^<BL8\5F"86.&W9/>6HX$!R=8@
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M%L4H@^&>2A71HW3U$:&0D)*>'D>GJWAWV5UH9YUP0$YR8SER,5#B*7,1*6/
MY/H0D#0!>/P8'1V?.?UQA%:E:!;C$_2>TZ7<(YE:P9GCG'B'(V'1<B,I]\8;
MG3*3@)>KB!NP<8+<A@:62M)HXX9L%"GNT<YP12 <LEHX[C#U6D.,JZ1_C%W=
M1ALY9_*463C4QI%[3)'0,#MY571('(ZM4H?@DU)Z31GE8&0U)RYBPSG7C#PJ
M1QFSM4!UB"E<6>!9H%F%S9J(Q>6/ALV;LUDQ"'<EPYX)GW)/:Q"UPMJ(M4)<
M+-?DM_"ECV&SY/($V;QWMFD</8V0ICA0 Z.QP=@B3STR0D8BEKNLJZS <23Y
M.00RAZX":($@\?>66!,8(A;2Q^@ANR!*"8]X?(RI7 AD*E<!,">GQ\GC%W1T
MC$XZ%X2(ADD1E8B4!^*<DXQJ^ZCT_\D4=(ZND,;X5"FASDK,C"-&8,<@V0C2
M2.-+FGRVSRRJ*^0I1J5[YQ0H&G;2,N^X9^#"= #664@IB U!T^7DH5++$@0N
M)[A@>/2$/"B!# +J8\' A1G(ZY0(R <)#BZ$7?JQR@FY8&JQ_6Q_K.P6(7AJ
MP<O#31K]\#6D3O3N;=D.LO%=HWAVYIYAFQ^8^][[T/\0OYCOLUO+N.!::&VI
M8,$$+8RE1 3')*?$;M<=7$Z?*H =BPQ>180CH@I1QR(F&I'HD:,.86=(V+(E
M3FF\ TIXGR7123L73.8OL\YX)\,2]I,K/\*%;SNO1AL>IM$$(RHRG%2(,L*T
MB2D^]-):C+R,RPI5;2\DH0(Q/+NILQR0?:!D$0+A#=PY%<"C444@3M)<84<@
M#/;;)1Z DJ*<<;D!2A_?OKIH?4[#+RZM27LR/IK[PIQ=Y7FR->GS1>O#W=#T
M K_S8@]<VJV2DL_6I^"ZUYWB'9=7'UZ];5WU^WEF!_WQ=I>/IF@07&E^?=J%
ME-[2^])= 6T!WLL$W:N9MM[/_:[[?0A8[U, @]3+)NL&'XO1*S.PS33I<$0A
MG9 <<G4&IL-Z'H(*$.@0L!ZXM.J]XD3/9 7[]PFF;B>,CPRJH"^;1JN'(=%^
M9.)3Z)NL \]X;?*T)>N!HLS!)<%++"E2"B/*6*J9*^>E#P2R?R%0Z4[Q%:<H
MEDK"&/4QYD^)[:=A"KP!8TN]8XXR'[6F6#GCD?>"@0LM+=JM.#VL,04G;0HP
M^-V '9>*:B:XTV 2N.4$<JG(P?X_UBD\95-P=-XJQ2!*%DK@P+#7AH-J!ZT]
M.'ZG0PEO%P[E6K.1$H1F/H@\85[-1+@?1Q'N.'2MC:X2S3'WV#&E$%-"6Q,9
M"1XLN'?"E0=P&UGM<ARJJ"Q17"+=R,+A9,%9$47:,^4,0T)H@[V0G#I!J+6H
M-(W:)(1[A"PHK#$_$U'XF(<8\AP>4@!3(_[[R#!DT-@(S*A/RZX:8X(UTT$Y
M5;H5:A/^3Q OX'M*7AO N05*UXS?%''+('=7X,^9!3^NN"6$,2JQY4*6;LW=
MQ/8/L6Z870MF,S#LS%(G"8X,!:DX]B00C0S&R> _-BA_HLP^!;_.#(9PG1@9
M#6-<&H.<PUA"9,XMHK%D<^3*(^)W'N.=4[Q?XY2<>0CL(9R+@5A&*=$IKL-2
M,FI\!#%XK @T*?GQ>"N(=%A[IS&A#)BJ/>@4LUI9Q+S@I=LIYV<@/ITTK+:Q
MM\(\\""B3@W+S!-#L34866F%L*IDNN>&"OIT8^\:6V7M4BB6XC(5&2-"8>>1
MD2IZ*3@I'W6T20#^E*UR/:-P@RQ!ED+(G:)P;FP((C5I&JL@+L<EK46;J7D3
MA=<V"C>$AZC2C@6/&?RA//=>,ZZ#2;-"'KTJ\H@H7 LT-[SPE$6AIGHOG1+&
M2X^C9E@9B[7#CC <HE 0P#VVM/9$]?[H;'7$X*2G7#'F,+"5 J>9Y\5 T%BZ
M'XE6#[V;JO<A>.C3'%-"A3:6$4.L\P0[3IA,1QZ0TGZX3>SRTXV\3Z)MQ5)P
MQ@9TE3$%*BRT-T&!=D;0YB#-HQ<]FK:5TY,)KWV:LB&5Y9@1YPWDXSA2(K$3
M3ID2D[!AP;21B3IY<>]Q( I1C77:O2@L)AQR-"LEBRZ$TOU5M'I/RSE%U[7U
MXI&GR=C:,L73! =DL%'$8_@+2QG5HTLII^7%._WLTF?M03_MDN@%-\BS8JI\
M^#XZP2#FW=N6,VV7K% B9#>.=E.T[H;;+%(251SCV/IS-OK4^\L2F^%%X_=\
MGKSF]>@M;^ E"1DP].D='^*X#@60%^A>W:91XS.A&)=$6*MYP(YAXD'-5(1,
M64H3;:"EH=@#E6R\=.[4+$]V ?KI4]PRX2FX-!XB2[NVC78Q6!UPL,J7#WU[
M((%9ICAXQOG94 W9B^,8/*=I\K"S#CP.B+?V1')P.\PA*TNGS#S@<9;)SANJ
M+U/=.>XA0_=*6<.0]N <) 1X''/L% 1V&_:N'IKJQ8F9K=$YA;YE^JUHLKSU
MU;0'X?)3>GZ>3N!9Z9*+^].XM_]*=\R<T#9M #.81$UQ$(8P!%[32Z4U),?1
M&4,(6[77<O+0E_>_#,%+ONY-#@XK=-S]9,Y<<<W,%;T)U)LZU%6X5*36YPQ<
M9LR< ?'XM=.U/?"H13+RM@/\Z+7^_"X=B].B?YE2<R<$3AL*E7)*$:89%T(K
M3+3AZ5 $%+A<WB0SV@,^0^#)Q__,0FYR=W-?P#I/XR$:Q0]T=/SZ2?-H.(;F
MPRH^D5WS"0N9MBT0JVA@Q'"5\H!T%&;$+B*]K B/YQ,Y*)^8AJP$[9!;_\^@
MFW;I?LPA,.VE.<17KO .OYC\]W1;RB;>>H 3&-INC9XU8A_>-?NH$4AP#W$D
M(\PJ:2@PCA;]3T8(LG(6WR/8AT]5S8H4[\5(PXI'[)@90'9%#6+8$\^\H99#
MB@U!/9>>X;(Y[LO,F*$39$C9:,G#Y/D]P/8IW'5SD+VANRP!Y="*1? N%6LG
M/ @&\;2C@PGPXEX*RREW6!AP0MQ9OG+VR&%H1O4N"9;NW(L@0X9$&7?4IE-F
M+:.:.4E%\()! &E5%:M2*LCCDZ4^Q,F5-9#B[=Q#.5EG>M6T=9#AJXBE8@9>
MXP)%AF#JT@%Z>)4@KEDFHY)@AM@BN!O"YHU#E!BA("-CC :%<?3(1Z:8-(XO
MGQY7:0E/$<@A)%T'VZMN#F8,I."B];[;N1P=3KY&7&<&(V(.Z3M!PHD(L*=.
M(AVC%90;%J)?ELU1Y)[&ZW?;F2]2D+?]<#M>3AY! [",0*G4S4M8FM,BUR'[
M]YMN._0,Q''#H3*F&*W=ZX?A@*U1?>N!1JT%[*VWG"DLN52<2:*,HL09Y'U
MGB.Z7,!=+/F]'/2R3NCU1K@.B3"!<CH7>PSB&,)*HS\%80S,[SJB%,=Q_CQS
M'&<100T3ZZJ$< 0[ZRD7WJ6QI\&:R)DA-ITO%YQ8.4[Z84(DR&8 F\)5J;>$
M::4XV;/\.TE0! ,2E!,L8&\E)922P# )5HF5Y__L5OXQ)T)(M5;9=\)JJ2Q)
M\VUU&E0<C=9<2T>X%0+)@%8.*MXCJ].N8 %VZ-#J'P6B2CL'B1GX8H^TP=AP
M*YFB#C%1VEFUGA2[4G_,E4)2KR'*16MTX%HYLLNGW4$P8HRAV./(B-36@B*C
MM#,;9$*X56.QUAUC"]]!:+@(Z])9<%N!;(WW#&04K!('58U&4,)!5B$ L,*$
M5<6/=2!S*B5=<CE+('\U63N5#BXA$[TLA&]:N"R-&7]]_OEYZTM>A%#WH*VV
MWYH6\38*+<>O?M/-/\.+IT])#YUYYLQ4':PBF#$.WA3^94" /(]"D^"4L'K5
M +IZ1IJ_O<DZIN,RTWY;'.53V)5T\Z^?Q]2=TF"[X+0B@2L*0PE'=U7=J"A3
MCQ8@BF-T 0<2(5%1QFH* ;)T'*% K"X9_EJ_ LC.Q>:@ E.1T5O6.!\M'XRE
M Y8=EL8'AHPVU$HBJ;8D#;BTJP[EK5-]\^3,RF[6' YE0:R.2H5@(Z6""0G\
MMQS22HJ(ULKC4UBI."$+\E 1]HAQ2)12!6$)QCPR"#8MTE1%!$%F"$Z6'*E<
M\]+M/FS&0K5W4[DHB)*6QZ^<2T0 6"]:'R$E=?>M_Q[]^PM0N/6RW76_+_&T
MN/U#G-X\O&7XSW1?<=M,G0C";4T\D]99AG2P3%*<AKTZDT[.+E7K^0Z;G_[4
M[O_HLZ^M7O^^'?[Z+,+UE]'<9NW['UK__B6[!0%Z'[ZU/G5O3>??+UK%-Q<@
M['D6?VP55_>R?X4?6AC=]7]\]J?K_H\+3TROOS1M,)<_M%+?5!;OA]=]N4D1
MUWV+XHM6@B?!.LK>(3BSI@V\!;6Z":%_T0)5FO^]-\[V"G*G";Q%TM\KTD]7
M,E>VB.K28_HW>0C%99UTBLTMX'#3:X5.ZG28@R==DDBV]NU%OP/DES[DO3^9
MV[L?_TT1+']LA:+U[#$O3I_6O-R9WDTKMKO?>I,757Q\Z\8 =6P(G190Z\ZD
MXKN];WU,9?)7]PYLVKAPDGH^_IR>/,:.H!]3LX/IW$^^P3_^I7AR\=!.MS]\
ML!GX#& &DP=W#SJC/^?QB6,UGL4,F);Z*EJFW6Z9:<,=X&?Z+0#U(L7M":3N
M7=89]:2 B)IQ V0G0&S?,V!C^]V$7B\EKVE=H7U?W#9]Z5VWEPV;)>&J0;M<
MH*9$AM?/4G/(HT3Y!.E=T<37&[\0$$_:\ +4848SQA]MWGHQ_KQPR5KE>17R
MM!D4B "OOAUR: A(MP_$#RT_L;H]X 9<T@;$1T3UB7:E5)_( 5Q@P KEOE#"
M;UG_IOA[:)7@,GA2=M>&9U^'#E J/1Q^#W?]X;V)PK]V"E8799FA3;P%ZCC3
M^O.,%/WMZNKCG A-91)D!'*PU.$*Q.W>9OU"CM[V6V!A>X/KZ]!+CR_D(;TN
M@5=(9 )PO7S9 .PV!;!P\3\&G>&1NP6F2QI7^H1"D;L)M^3G XC9+'G3,Q94
M!$Q".H:G,X#G#'UE"]X(KN46K.?E_YZH;P36P27WP>0C];T:7 /S1S('BKNH
MB\67<T^>HVG,VO"0"6HSL4$Q'?Z[NTF-PPG<VZS7*U/VSZ]?S3T1+GG?_5JX
MU!8F0ZB&.EZN0PFU='1AGMTNZTA2Y\)BC'4V*T35@ZP4:3D\:JCHQ>. N^-W
MA.]WP17\&5-N #HX0[XA2(O4FW,MK6^F!U% #B\:-;JMXEQEV[6D\^//T\"B
MFJ.?A!6ODOE)O"H^I([FKQ"-=%+1#J1_''\-0\W%F"+=<M7QZ5\S-U[UQW<-
MX]-I2!$]<\A'ZYU):PY*4!R14Q8'(0S==O@VDDR*F<GIE: Z!O[!&2HU49Y0
MR9S1*I5<L%.II19%NZI7:$U@R63:A/08]"]*</\$)A L:I+#"846OYN[8=AC
M/MT4\.>?P_#37RY:PT;&1,:)0?@$$MUZ'2,H61E5%Z"?OGF$W?P7,U<.P1A#
M,89A L#X_>GUP[?/]#02P2&7Y49YF]9QC8+8UPN%"5::B/5[>1YFU*74:?E9
MS7/J<(@V+%]FN86DC*?=G-B"19+6Q(B(\8([I#E8E4<.Q,&$:R$9/A>6[Y1M
M,S5&;0CX?FZ"-HPH:X,(@7H9G&=,QY*^+U7AG G,!4=T5^IV(J248&$,)5K%
MP!EVV!!O->,2@9A[IU8M<&[A8LZ=DL@&8@-'X*PC@PC#ILUA:01RE,KYDC%+
MVP<KYT[*"*:5\!@9V%06. 1\46"FO9%!:LJ6X[XJ[I1RA2G>BU"N" >KU]K*
M0["5I3:C:"0.K!6(6-IC8B$^Q$J"Z0L>15G:ZE:'4MOPQF\A'8WZ0\MVVWYZ
MZZ"H)*PB9I&Y#%84*'92PQB_N:BNA%FIG"G^W #DD ^V,_C=@WA9" TFY=[>
M,*OMYMEUEL8%W9K^.+4MLL94<!L5PB!%;$-V.4P)R_*[)2A26EI4$K-4A$C+
MP7D 2%*AJ=L)]_"RM%P,26<'LME; _GM<#)9*E!!CGHWVA$_31$3W%E_,"G6
MS*\%%*A-5Q&>MZ[ZK:^0#'<'O5:_D X_*%8$IK7$E36^BY59;()S)I4>%772
M7J\0BKU>\,]\5"P:]N.VL]NLG^C6;?FBHVOFT:T;TRM2]]X @IFB>[?5[O82
MJ,4H@-[ W13/AJ]&:7>%[+B2:DZM02I;]*<UF5?=(J,.0'.@V4SK[W\_9 VF
M#TEOGGW$] DE9@%RQ1AD)!1R91:"4BHX+<$DN.@TUNLW*M?,++S_\.5U2T]*
M/QC_V'KUX9=?WG[YY?7[+Y];5^]_AK_??WG[_F^OW[]Z^_KSGDS#EP41N\EZ
M_6XJ'B;!+*J#6>=KM_UU6&L;:XEKF^P6:-,&!;J>UD2'9\VUPW4J]N;=).C%
MX,!1*1FT>U)+SN&75#,&I<A[1>4I2[7"44/9G.T #4_UT21S28OR5'LKRL#)
M" %SX,]"$]Q$ENY;WVX2Y*DZYES1T>1"JF8"4+8P%0E:;V[-=4CFJ#,J4O:Z
M'?CUOA5&_3YI<:0HBPZ!-JE/);LK?KA-*X_M[/?"3@WZQ;K'J#9VFW6RV\%M
MRPRW42:[F8J\K6)H0,+T#J#-$A2C&Q?0O36_A]Y(H4> ]*: S-:A?^]TO\&3
M+3QG6$HMV%(@ERIV>3;$NS-4C=YPD6S,LV23X,)>Z/?;Z8\>6)^VR4</>3ZC
MST,##:%&JN]WOV9^5 B<H=@$I<2),.(X\+8]6J:8X5489IW=U97;ZBL& ,1T
MP6">BM]&]G)6?&?$-56Z5TCK<&TEE9QG1"I9N&^I^EQ #:+\^W =9%8 TRO+
M:&(*L.>]!KQ_H5I:Q5QO9#OG[';:-IQF(ERT[LQHQT>Q@]AWV\#T7K&]N%A=
M6]I,/#,B[:/)/^3%,H,OZF;C';<SXU@UM8%Q'A2*#%D)'/5>*J&H4F"Z5_43
MSP>W='G^P'/X=IX.:T Z!O(62V<I\01YRQ@DF"@%^H;(2!EQN-I&B#TB/]PM
MWC*#_@V8^'^!3CRPAWSF-<4S>U?3VV:*A-Z+($64D&"3P+7PTC-'C*;:BI)]
MN6N''UR*=.3O\#^E."\"<S!<&2186"N,.&&,(6UY.LE).A-I\":N.DW\ +A^
MG @U?D&3J?G#<X2G0GW18@B<4KN=C6<'S-+EQQ:A%XK3"Z[5<,$:_B2B^'-T
M,;B77A]^*MP'?)'6@K*OX/D>H&,ACQ^F-T[IR)55'J-(=2HE(&DI)AAA@@)U
MG)2T,U<I)4C-L2REX2(@9T'#J(,S!NRJYX&I"#1$*GAO0!E]T&'5WM!U-&3D
M431<1G4CI2O%%%!C5"+J%=-,6&Z(=YYC2W7$SLE5&[3639P@%-@%['E [8Z#
MKS6"&NV%<@J<AO#646=",$Y9'H@H/0WR82LSQC>MYVR![TQ[SW#"6NO/Z:3E
MOUQ KM1/BO+%?+]8,9FNA 2+\]J63Y,&NZ"DHHA1%Q@AVFA 'A'''+@61DJ;
M^#>8*H:)P)3-V]M50!V5#I* BEO#43"6&0<*3I2TPG$A5 0Q?^2,5"+Q[,[/
MNE+!(,UEE,Q2<+M@ [1&+AU-#>D_EIA42/L?/I$>@5(077\Z6!\=#Q:L7IJP
MZHH]00&Q0"RGY=O6-EJ.Q1*"=J(VI0.DEYW^J&WM4\J)*A>!9NY,-SY8^K$V
M+1M*DA(+9B.R6/$8J3#$&!Q]::= [4L_<J[T\_GMW]Z_??/VU=7[+ZU7OW[^
M\N&7UY_V4/(9H9(N^*&5IN=E;B6497L,]U2$2M<E*,876N-^O\Z[@XZ_=-UV
M-_^A]6]OBO_\V!K_/8R:A[=_'.2]0=H> "J6LO-/J=#R-0-^#G&XNL[#J)7L
MSS[$HG2<I;ZJ?FBQ.384P"=(-H2JC*QED$YI6FQE'6YXVO:E92](>(&5Z;?>
MOKUHI7VY+37NZEIN71NVD9I.Z_7WHD=NM#US2J]4B@_#)D4@[:2M;4I?4-MB
M!:DU[-'Z7X,.Q,^BJ&?(^?+UJ'"4BB1C$GR;;EWMC;>NCJI"RV^8*Q#9<&/:
M<9G=I1<[D#2P7GGO>2MUEO=6WS:NT8_*6Y+\L8!3_'%,PK)B5;^;3DLHQ2H/
M7T-G$'H+?<ES:PD/,K^,P[-EI)U*3@)^8VB24.T4BMG4:%.&"35D&-\9PS:F
M1VH(WRD]&F%9#<5\(OU\_M$%R[% CWW)EW+)2VLE0W7NS>Q/F]B:H?'[E/G1
M??\'DL2;Z0[]5X5AG>O/GEP[V_Y[T?K\^WUZO;LIFH93"'<_-P%A]A&3:Y>V
M"KQNVP &OO@^_;_UG^#MOX%P*%$\-^1%N7V"W>Q3_YZU?>MC-S45SSYW6&U?
M8WM+:;.@M03_\:)%]5!U,?KC/%<OGH+M'6YM(( Z&I*!+5'A 33&4!U='Y]/
M!7Y6<(L0<BI$B^R7@"MA(_;3)<33UW1*&;*2,HVMKK.M?K[TL#WD$9_&2I^'
MXI" <>10!)^]T=ZEH7T82TTW:Q<$NC:I&<;#TX8;F;H0R8XMUH+$8OQ@?+&U
M.9H5 %"E/>&2A^EV$$WWC4G:K'((3,P=/.U[L5;>OF]AO0.\'M[;MU.T^M^Z
M,^YQ%B\A1V:/K[1[#\%9LJI\V"+"XL2F?2O^<%_12G)BA!Z4C'9JL"IRCLT5
M-H5#ZQE)ESW<GN!9H$EQ^6&I,MZI]M"[11)LD.XMHK]'@'48,=P/R2OL.=Z0
M!7B6!<NAYT-@%GU4,^G(-M"R) )T% $6V< N1&!SLUBI3%E!/#8PCZ-MB;UT
M5DS(BK$F!^GS\^.0)A%N_.;IILR2?/?;3>9N%@MD8I2M/"S+_=SX,/.>28/J
MTA;OXFD+;5$+27ZK,B(I5ABV>$TBAC(D%B*'49K!Y1_'/8F+X#\*^JM5T#XR
MO)Y6&N;B[ 5^52F/E09'RRQ<[FD[)OJS-8I9_!<C]U&!\&%YW2<%JO3XK5\:
M6[$"5W0EWH4\?66NP^;S(H?EUNEHG&4SL&I&SA+4'R=@X-GY?"%$6HPQ1LP)
M:1@.WN# N K<X]))T/.'32V]Y^7]R]!Q-VF'0#&1ID!A-+7F%_./;OYJ[/.&
M)WN/41IC-+IT+R,M54DKGU /L'J&:!59/(HXIGP9H]OZT)GY]K&30RNRUR*$
M,2(^2L]2@Y+2D49O"%*(>UNZLVD;]HZ0?A_ZJQD]_@O(<&@68[U3%E<:>CMA
M^Y<BT)N9;K4@']LQUFD>+6=2.L(B(CJ"OM+$/*F]0!6.>MT]8PM$*[%VH]F\
MI0P]D,I^@>SQP"J+'?9"!HV,I(QZG?8B4K#&'GCM)2WIUUX\L7,/G/W6/;A5
MECME\2IMW)BGNU'?I+/I:%;M/6?."ZV5(TIA0RV+0I?N*-\[DRNK[P[93/A.
MV5R2O3V&UVL6"Q\I ]Y1CI'D2!AF@K=..:-\U)2E7=VE?:4;^N8Q.:;4>" .
M&R-;X#I&=8CIH:4"[5;YQVNMZ]985ROY84P_I9XJXB1U$C%&G2+&VR"X!+D
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M.)FU3Y;\Y=X4Y)1X>70 &F':.R\/8WY')V8\VOQ";M2]AFPK&YYIMNK0GX4
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M$M6O )HPL$2NS0L3&-2!TS.[JAT%9".=]X"L@/#KNS_=8<$:?*'&8].:';4
M^KN><M'\O97D7):5O;;V8Y7#-TV#=]ULK>L-[[I_ZD1KU]=])G=M-K_88=Z?
M?MO01GZAV?VCS@?JUZ2\J?CTWW_0_^X\/V:[JLJ>WJG+<2&=ZC)[X8X<_+^7
M&[46)$%5K59:YJ@Y;GE8-HP%!_:CYI&+XZW>DWOBZ$@3>Z")W^@;8$%G  :_
M5 ]#'6\:G>83ZC1'"CE2R.*HGQ6:*X"\AQFN*=DX!UWH"V@41Y)[SB1WAH;F
MM^(:U/:'(8^V(L;##'<.Q 9V=B$<JGITP,3V9TL)NX<Z9O2[T/\34  7OU]6
M)=@[)XT:^.K5FS=OWZ[>]0*4W E@\"0^]5&A!"7[LIB<H"[YDZ._HW<_VJ;'
MS#F;7X+&;A1C+]T>S7=;G;?%XO9SJ)\< )OV*Z3V%J9TZQW'CV$8CD+7?;0#
M\?"(J\J;P]G%QP&FV[X?M]^X>X#V4,06G0;!W2GMH#;Z","3T9 ?'[G5<P+F
MN7(K?Q3Z\2A,[R$<GW:W'T>5?$O_NZ,JZ46=+OE7[0-_(J6QMXRGX,&/ ,#.
M)V-@;_&C%[@C]V"4QKL@;F\'\W"!.7@VO(K8W%/F'2 +_AX8QI,#<#\BVA*F
M@^-.1P".9/),?8.V0M?<*3V52G<TJ[<W=EYXX0&I="N ?/DHBLO1SGYD._LT
MNH='YZ V^@C H]+0(0CN[V&7GAR [X1,]J#?#5U []6+][:L<E501&[51,,^
MAOYWIX7N_[CT@R],^*4)P'A"$#<<J'M#W4GW-K'"__DIE,M]DL7#J!Y_4 @/
M2QN]YQ(>A(@/GUR.4#T1P]TGH,^#EQZA.I+>8Z'S$=1LM@*^/<5=VME(3Z%L
M;[7<IU*V93G'7*LGA/%.VO8N8'>:2A2[3Q7/N4^BV(_N] >!\+!5[1V7 $SN
MR0.N#I.]':%Z2KJ,3H,GB3O]@_*LPX?P#\55_9$;12/V!V.M3Q#@^@<-H'ER
M +Z3")YGODM/#L"13(X ',GD#[)+3P[ =T(F?P1_IZGN98I34?&DH]_SZ/=L
M#1R6'OV>WQN$?R@+/3IUGSP*]C#9VQ&JIZ3+\)3Y1Z[Z'4'XA^*J_LCU@U$<
MAG\HUFHI]'^F0J(+J\:/]ZFT^G'B7*CIC,J6.WZHBSE1A53KZ]A\C46.E7.#
M_TDH+9P>#/5'NPYKW5:YQ9*\3<UH7;!73; ,\#6?\$MJ\SW":L9370QX?*O+
M$-^8LG8G7)>UT\.=4*G@G!<5[LY<=;6<%V<E$']DI[Y'<\(G+QJ8I^[*4%.5
M7&S^/;YURJ]4T[A2RKE5O*J=O"JOJ3BL7:N8YK(+ZTY*Y[J$?V=7? *D/MGX
M\KZJYW[L*B][H;:8="'ENOC6+]/]"]6:OJ9MKC76%!=7+1Y]VMGY!# WJPHQ
M4_U:W7JS:$/ FOM=S;I]P>GZ[^GJU%AFM[9ZW0F[%K:BQF\8Z%* _?=/K!=H
MBB-CH7O\GLIP-^.;NM#_5CN]@M?PP4:WWB?X\*/GG[+PU+G IU9/KYQB(L9S
M"<#^Z+%TQ  #\';S8Z6KZQO ZL55VI7,34GA[FQO*"[<T&1O$-J4?#X&NC0@
M2#2'AZD1Z[K/:R+%IE!Y!7@$ZJ3:_S!" 62.<*W>4PO<+_J\\QH'K#>AS<+,
M1IR8X[42%4V-9LV*UJ'-2P^A"'5;=QK!;0\!GC7<!ZMFN5TPW>U7H&[+4B^6
MJZ8*W/CKL4;UL?3G=J4_E_,X5OKES$#'\M1'<GCJNL-4%LIY_6"E8-^B9O)?
MWU45V#C:;Q78#\LBK3P6ACU$9]#VEK,7^L^\,.P?&( [^6B>B)#8J7N/HJ_/
M/0E[%>L=2#2\6[[UL6KB84<)6!SUV5=-/ +P1*3#3G?1F9Z>;IZ!^FKST/\B
MW?6HE![..5A9I<P]6*VT@W*',F7/;2.?'("'HJ3@-+['G> ?0BM]NM) CW$^
M#B@!_U@/R+YP^./6 SI"]43T>0C5?0X$S8\@)_8=Z[W9FWP,^SZ&?1N?2O)D
M/I7#)(H_$%1/[^2^)]CL-+A'XXH#H8%]QQJ>C<=#(3$<H\Z^862>#A["G_<5
MT[,Q]@N#G7Y,O%%J@AM_3*.1!Y]WC5M:C#;<-/'(1)VAV%L5/=4]2U"R("30
M"$P_C$>)!>?Z$*%58.X)ZV=].3ZRH_><*RYIQ:*\G!3_6H&>&@AC!D,#=GX,
M64!AB11O1J%9Y1!9S:Y ?1BDK>$0TZFJBE+JX,^;JT)<F?B^=62*<8J\ZX<[
MOG5F-Z6.^US"9?/Y?_]Y7I]<<C[]Z7518USCO%(?\U?6HC_K0+I793VK+S!6
M\A<DFT_\EH+XO@"6?QD#4?SE__Z_'.=__S\G)Z_G"@$RKSF?.+ -58^<5_.J
M@C=.3O23[;1S]:4T#YMGS9-.(?_]A[=<S/[.L]Q56:12YF>,Q5["@%HB[OEN
M(/PX37Z 79K@?G]6^;__('!7W3  UC:?%/J[7UW7_\&12@!FQC6&C_V%)7'H
MNM;Z5P*RSZ5E>1)[PLU$%#/F^;!*R94?*%>P7"2Q6EJ:E[K)IJ5Y09I&.Z[M
M#:^PQW;M? **HWT>.;#3A5A<5?,@/->00R&Z!7E1E"HAI0BBE(DXX)(EGHQY
M'L1NXB79T%X%KC<KAW<M^,'Y5A<_38HQG.AJ#OCX\X.#[ .VTRQ3&<LBID+
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M1"F_GEX ^,TUM%29/<(CG(G>3F"8Y$X;@2\L; 9B22O:=:T+# J,F6QT:R-
M'?3G5!@1B7LUL\F&>/0-X*HB!.E/]2T(W6M]7+6L&B.;&9,$TX">.A<-XPKN
MQ+A^:^=\1RQ8+[]']'#FRYL][DI3/A4TQF%-<8=3,2!:'K,4HE'N<#=!&[DV
ME_GZV*U0379?W(*8/)8VO'=MN>"^Z0>/V1'EN-1MY[\_ /LN&6BYXMY;;H)?
M48@LG>L#1?,?G*(>**/T3CC>VV+O3+#KA,J#PKYP\@!T<^JJR^R%.W+P_U[N
M'8.[0/$ 3."P3_P^J;%'4]\W'76EQN].4GA!"PC=3JO=,-9'LCR.]'FDSWOR
MN?^<EY2OAM=6:"$]#'F>Z1L+?0VQ5#S[;F.B)_D<O?6(JP<"DZR_AQGKA;E8
MV:'0UO$\'L_C(AE==#><#R@I'FBH[@[WG.YV'_3D^,>3<SPY#Z-I/?@A^M4*
M5WB8$?=P@(+C 3H0TCT,*.YQ@,Z$F%_/J2; 0QV@2L&3_WJH\?Y*=Z=\\D##
MO7A7XC71(1^@ARVBYB<[%'E[J")J:V\8MT?]_JO:'43-M/65+ ^L*M5#KH&-
MTC0ZE IJAT$BAPG5D7"7"=?'2E='PCULJ(Z$VU_#,RDV>R3=(^D>E85G"M61
M<(\\]YE"=23=_AH"+#K[[(GV$1PJJXH</UCW$DH"?PK/R58K.]!J\RLZ+AS8
MR;S;(@Y*'3H,(CE,J(ZD>]#>D\,@DL.$ZDBZ!Z[+'P:9'"941^(]J@S/%*HC
MZ1[Y[K.%ZDB\!^M%N1>![+L5DUTT@8_KDM+<';ZBR(FN0%'HZA*"5U4QE,-K
M*E20[XNZM31ER6HLTZ6S@;$1P!B+<.2%+N[$:>:367ERS6<8LW+;!*_<GCIG
M2PG.IN0&@'!+#0*I[!<^M&H43#NF;DEN,]Q2&9B[CNB!7968&O%%37GPE=2K
MLLK&+.2]4W:T$!KU.&$/8UUN?CV#+W19AB5BEHM%SM>6+&MKH9UU2=GOK*3L
M]U92MI6C24G9G]ND;&S'4:\LE::';D;Z.&G?H]<&JJ?YDF=>)D,W5#'+@XS+
M3.9!Q'S733/%!YOP'$+UM&,V_#$;OC?_82?T?J=+/6;#'RGJ8$*##RZH_Y@-
M?RA9:<=L^&.*R3$;_DB?SX0^[TQ(QVSX8S;\\3P>SGD\9L,?3\YW?7*.V?#'
M;/CC 7KB W3,AC^X W3,AC\F6WP?R18'%9YU&"1RF% ="7>9< \FGOLP2.0P
MH3H2;G\-!Q95>!A$<IA0'4GWJ"P\2ZB.A'ODN<\4JB/I]M=P,''<QVSX8S;\
M,<7B8-6APR"2PX3J2+H'[3TY#"(Y3*B.I'O@NOQAD,EA0G4DWJ/*\$RA.I+N
MD>\^6ZB.Q'NP7I3]9,.O287>,B6YS8[^JYJH"INB8V=P>5U,BGI6<8HP?_-M
MJB:U6LQ^-F^<363_>?-XE^P<)3SP11#Q1'$6>2[WF)?D,HG2))6N"H>2G0.=
M[ R?,-G9F4\*_>NOKNO_X$@EBFL^KC%9]R]1%$8)ZU"P :['6'&J/!$&:1:&
M8<Y<'F=*2JY\'@<J#WPO6UYQTJ1W;[-B+XF8YX<'M60>Q'X>R"3P6<P"$7(9
MY"*+PX1GPN4)6UJR[S:;;#+:URXY<=W(30]JQ9G*LB0.I)ME/N,J28+<]9B*
MXT@&L73EYAS^M2OVHR )T[O0=576M?.I*O-BMK0X_$W_U"TD2'WE!V[*?2E8
MGL<\2',W4U&8Y%F49>X]J34(F1^FB;60#HB[ QW[ )\GW23/ ^8&*DUYRK(H
M]F,E@LP3]V0J7NK[0>0],-")R_(LD< 7@H"E2G#EYIF;N:%@P"#B94ZXVR&!
M@Q>RAT9T$N;<RU/IY9EB2:(2+P1@$Q&Z@C&9#B)Z!S(/HB2)HF@]T/^QNA;)
MXAKPT2_E>_/@15>SI#NW"1=QJ#S%@7*26*62R3S(><!$P%D<#RTHV8)>@$5U
MJU@%QGZ6I&+8H# .>9BZC$4J!4K(N0C34,H\\8(ANMJX,[NLYET)NLX[8$;
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M3>+%P<J#>$!XR%DBXI#'H(U[C,LPB[R,I6'D)FX0IMEF!_:FJ["$K22J+=$
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M2$5NPJ7G"]C[F&5 MEX>2I'F+(Q<;XN>3@^'$\]-TOC.2-&R ]G"NQ)Y_-^
ME=2RT*;P75 #AS-7D<KB-/)9&LDD"R1C7A(E,I1P,NY,+@3IV402G#:86Q$.
MC'TP*!*>E#'CL8BY8$*IC(LH87&2N$*YD=BBD<I>4.2%X9UQM,/JE<=2B8T$
M?*;@_V59YK)817X<10F0PC[N0E:N@'X#O0J]7_IV]96N_+UF0=W3W9IB7^&M
M#NR?[S+?2Q+F,9&Z">.1G_CALBS81@($?@!G>W Y'0S[6E$>YEZ>YB+E2C 5
M<NXKER51X KAN?EPU[IDHTP#M"PW3-UY1=C99(=%=8];/0W".,]=(1-?1L#
MPY2[.?>4SY+,C?)(W6G#-JVL ^11UNB[>4#7<TKD+$U!8&<Y2_PXB^(L!;:S
MORT<7B@:FLIY\5KI3R_1Z[+AQHL>;%XXGUB3=<L,! /Q"ZJ) #F3Q7&2LCQ,
MX]@-TQ2[+-ZW-0ES_:1_"E=#]0C+Y5D8>Q'W\R#GH(Z%*6C0P"<"%08\\]C
MKMY#<;[[2K$#3@7P:COG%5AY\&8U<MX9'][MYN4W0_P&(S0#M*];^FD>QKX7
M\""*!,NC$/0.+^92\D#E8>@-RI.=6M. <L_B=!U>UD)Z.)CB293R0*1DL0@9
M<Y!60N8>D)2GQ+UM+L^/W9C%]T?4F1#:(3WEMR25R$EM#&O+";P9,<U(G_1
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MA^[FHBG/EC."O1C [H>A%_M,*C H$B%B)5(1>X$<J$BU(T-X-IPQ25.6@$
M^R%G*I;<2U@"K!&.0\3@4-Q71#PSSIB&+% @(6468.F<B#,9@=7E*R5S=YOL
MT#\"9TQECKZW%)#A,L]+N9_%/$J"' R++,P'*PCM9'D_$\,B2U,L_N*G(D/W
M70C:="P]-\Y"$!ANMKG0]AX,B]U]@/?DE%+XD?)S. -@=_LJ!Q&9>!Y6ZV!I
MP/GFL/.GY90/=BAD'F6A\ER7@2[-D@SLJT0)!I:5BO,\'*B=O".CW/.A6',U
MH6,1[W0UT;XZ>&NC?*J*J624,2_CJ8AR">@2<>YCZ:1[%Z8+0C>,XXU7$P-
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M>"B) [2GR]2FGREQ-:' >]C82ID&A<1C--R(XK&Z+.JQ7G]NOI,*>"-V?%D
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M%JI3FRXI*WO%.WH6:?H.KN+\K30; @?H0U'^%#ZD=/P)J/%=YYFE9HW=+I*
MF]>ZI;LQ:DGT-J(2M/QKTP<24TKU5/U$V7ZS[;8=>P/)R'S70=IVNZ>6Q2/M
M,CK1F5MHM\)K7 \MFRH]J GHW$\C@O6OEFK084B4>"73Y7N.,0=Q3$Q3[\+I
M4E[:LF[[O][2_SHV8Z>L@2R84_Z\-KU('9S/T+%6DU26!1!0I:5R1WT] VHU
M!<HYL:>JJ'_7/V*T!FW&8@9(]\-M8V4WH7EM_IR:@ I=3G3/4#URHT'O6T78
M;*<AD\,5T@<L  2;^RCE&]J9B<^J;N:>J^T*( >N.R[@=ZD;?Q96/BRQFK(J
M+@NLI&2ZBA9-/02K(152.UAGO=3(?J6"12A([42_;8%G0NL28R)F&%+=-DF-
MJ,4BQ0$%Z*)>5!T"CKLI@->Q$H2[F,W;D[*VI^FI<X;GK"K(]"&WO-RZU]9H
MI<_@FJR[UIYIN(WZ)I3"47+X;V5<<[JM#ADPB+>2..1""U&NVSO5<SQLE"I.
M]_N&RHEEX=AUW6A>3R$VWU%?..![XW)J^D+KSN;%(XA0FEQ:DQ?=Y*;E5=%Y
M0G4?=TJC1@9MOT?9SQP;V]]<%2@**M.?BT@.^;LF[FO^#QT@U!KQ=7>F6E?@
M6K#&Z*_7:6]:":NU-F:ZW#G6NRLIK4OFL68YM;XNT.^1!NX)!V,/H*XQWW0*
MZ\=#9$,V+@4W;MRSBD_Y58DS MG>HM<%) .796=KKEU80^^FUDC=(6>N11QI
MG,A>L,_H)*^X_DRZA$8<R$Q2&;J%:$,077<KJZ#HDFF-6T' ]J#!J;V05IH6
MYK'7#>MIWM&]B!L0%SK%M0_5K;8 !CP?CX K $]4JJ+2,E+50)DCU#W0;TW?
MC76+/]C1YKI!WU29Y1.@!$V3_VAT<!NW)-D7\+%0>J(MLUGK&>W7.T4%6 [M
M<MT1&_6X1@UEH/ -F&&@JA3:"](^B*>C/[LN85'KPAUZ>::W,FH]#BHIN@-W
MF[)>3(!QZWNL)=)HTO%G)9;I:[0'V8&,XF(,H.[KDL5>&K4YJQ?X!2ZKT6?!
M<-'9=H0RO/M&CF^:7U=D[8#L0:)$,67:9)]/6ESCTT,/]25 Q\'(G5GK]'PJ
M)8&H-JY&C6YX5IC*$70U4M&@2$ P,?H@K<>0/:!DX5]Y,<;G^M-2E8>VJ6"-
M=0=@2W(NX*#;^MG(R>8S&HCD&.WC:%U= D2G^1J4QO%M34598"RE@:3KS &L
M(+P:X\ .^GI@'_=Z';1M\,I-A==(@/3R9M)4;>H(:W"/GL29;UHO4^SP4[GA
M^UZ&!J0N57NQ@;NI*3'Y6A:BM=:T["K-A3"O.G]/4X(%*^]@7V<JGV?W6U>M
MV:,]Y@)@!G.C6E'9JZ4JPU?'R 2IAZNF;&,;RX422^W"M)VT#2[:TEF-;:<5
M!%3.R-N"3@U<C#D)MU2%5&/EU'2<[\U)>)QA FQC^94]--]@7;1%-9#L/@K%
MQWH=>#RUP6IL9".>=7FN=O:GMGZL9N=[I^KWG0ND%6<:;50,";@>BI>^EXH<
MDB2%6C@;NB:Q!3\W?8Q-L9P30Z7*. R:J8S3BV3EDB]B3RNV[G47B\1UG6')
M*4A7)Q3V\%5[6E&WJ)S&@0 4A=$LVG5$)MZM;8.CYJ-11AB1BH:J-QM9(\,Q
M&G_.S-0 ZOJ( E<P%SR@61G9F6O,UM:M=8_OH%XKFAJZS97>-O6DK)+DYFIK
M,&[H!9I8+_MGQQQCH]QTD-6(MJ+N,S+L4(SX<D!X3F8=L5VKV15ZILY(_UEI
M4&IU8U+:UNK3""5!SO?FH!C^_;FH?Z>MQR:H#G5!W?O9?MLS\AOG!!']M*0[
M+;*IZWGVC\:IV2!3FQS=2K3NJ9>"_B>MY> 53*MIF2"KT8#/ K6*CE><.F_I
M4@I9!>JM\.^"]H;E'&M=*Q+' B+O.3>LU8SL8U9;YVS@F/7KVJUS''05P,"X
MM?K2C]LZ:/BT5F)KU5O;'G7L'(1U>8.L11^)90<A]9-O?+:-PJ9=QRWO0+")
MWQ)/[_O..\22.JP%ME8^IBB)L0JI[IY@#<YG#5.R#8$Y%2VTY[TJ0,\ J7"K
MW]'2&1U&8[2]:GW+A68.:,<E^L\R[![?EEB;3[HO1MK#-J];US@JN4B-L$$%
MJ>\X)G$=:_MH^+[A=D-E1:TV]RL [M>@RSEV1U^XBNL49&L,ZRUBUECCQO%[
MH:7;\N&.<=A5^NH^PT6>WW+5=X0$O[T^&%C:ONAU<%$]MNFL6N=*WZ^-M64Q
ML])[.NC,[4E8[.>N/9C&?*7[#/-CMA@(:3M,-?GHF"ITN.*P*(>:^SU+YBT[
MU8SOL5X7!V<Y1<G1]I6N 8W#R/B-6TO.V!)-M.OPPKL2E[9"<7AD\*7"V]BF
M9II=OFT;,NA\+,T 5O&LB6K*2)8W>@>0V\TG: UA, "QG.:]-EJD[ZL8QF/C
M8B9]Y@H(Z 09C3/A,W/OUP0Z&:/E /%N&1]+;*I%]0#9&09N600+9J^MOIXO
M/"=5+:HB0]XYKTC'W NO?)30EWO@OJ7V3R8$9BVI#VU 2[9-$,UF.B5'*BCR
MJ DBR1KSRS9KFK NTG5:W>L B?==.;D\P10[JU"MU9Y]:?O73Z/=&!O936<*
MG0%>)&D(9Y>@V= GK.'K+:<%G)TMU-6V;O7(C],>G28XJ'>$M.J'!D9^T@_4
MA9VRYNGB#*SI[/K'H -B6-[,CGP>#.OM7/*-^6]-TY7?U/4Z+^;3Z=A.>G!>
M4/QP3G>1S=EF=SK;7450NE0Y:QU2W<[ !%@4S3D_'SGG,W7M) WO70X!?ZF%
MJ)&=S;&A:Z"\^-9YZ-!/59!>8!XI)W!B6K\R^;C1JNZ0\N8;!:\3O,\%%;\H
MP2VUVHXC,%\U"[57MVQ%+78F,&%23<R+%16JX^C.%EPOO',1T76U)3N^F!>H
M_\$JL7$W?';LXZ-5)@E1NY"LW,\-PPJ5HI@VB97:<TMJG8VDYE#8VW. +'2I
M6JZ]5%-QT#%%.>_+3[=3*HAU;KF#2X52[=D62J;V9W_1>>Y:1MBQM?=J5I73
M$L0(,-VVQ/ B5U^N0KR4]T69)>TE+>:28.[HK55!8[@3PZNS7B.&ESW!ON@?
M=#)SC&=VB&BE722:7^F4''L0XURAIPZ0+C^"I/O%2+H+DG2KRMLO$=6@8;4D
M.&T?6>/=LN-K-K*PCGN2D&BNHF?806& X9'(;X=;$"-][FH<,<T-C2D]?VM<
M#DO7D'MFP!=*M?S6M#0IZ([Z>V>]6X1!ZYNPSUV0Y-Z=P+91#+O%+R\QU41S
M20U-=JNC<S!% M,_=*"-[0,QQ'F_S.+'"#_0:9;6XFR_R^RJ*N>7P-EO2EHB
M 9ZA\T?5]4_.B^)E]PA%&)NL'GSLYJH$<QT/YTVK<]UT!>GKIB ]?O^B6!BI
M.=0FR 3#U_ YP) LZ1),C=LP38HKIX#86M^#@':&L0B-4S2WXJPZ]0=>OL1L
M%CR1V"5SK#L,G=X3YP.'=16-_]8B:%W%?N>M,EK#(]-!NQ]HN&R[F>T&48J/
MR:1!CW5=SBN!%W4K]L+>@[MT>=(QFD*-QU,N427!RACT=SWEHOT;'?C__L/K
MBT]OWX&P^H(O_;!=!87EF@F@],C9%?[A_NEGQT;R6.6SX9P* K5J/\EF[F:H
MQ*[%T%OK3*Y_R_F*MSJ"CQL@9N7T9\=\IOM\/3"<V4WC\?FL7#'>6C7%V@YB
MS^\QK!7(0-/(O,8"10N$,\,CJ"\(5"^&L]=LZH[ZSU9>SS8_<3UAX^V>"1,!
M(NZN>G1\D/E!Q_M=\>J2(G Q@%VCX-0<<8T#^@4?;5N@V:-WEQ%<1\9?*YWY
MI5^FBR@:UIEBKB2GYYN)&H!QCFYX;/Z&#GO22I"^+?]V+WGKXNV;A;RM8D9#
M8H#)1Q!Q\( V]!MP\4 KTFLL]HM9"M?P(SF3*$%;SE&YQU](M<+\O H=F7#N
MKRGB?[4_7V\$(MS:EMM:IU(4L!I>=1&->K"<KM&NS15KC@F%V#D,1>VXP/L
MJD)@4&*.O'-5DA5//YC2C73:)0J3_@9B8!N-8F^6 P82;E/S8QMPNAS)"(K,
MO]0R4]6#=QDH&'\^+0NZAM-WO^0[D0KS+RB$W!PBTR2PI2!$.7QQB6&1E*V
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MZJU&%<0GE9$\;G$S\6R_VJ!QE.G*&#KN\,-KUQE'*#OM61]:MF;Q-9F^5VH
M99]2;3I-5+!;0G4"OY[3W()-QO;ZP$%B^!2?JE P_"2FG.*STC-G>@[:GS3
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M/6JI!GX_$<P#RP$X )/KF%#RK0!P)*9#3S#9DOU.Y,W>B?U^'#:@W]0)>J1
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MMMGE?*&.[G_@P1>JQM-S?C*^CX\;3RGK53WK_O32MBXOJOP"FR'/5@5OUPD
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MAOHBK[YPK+((<!R;\%OYL>W#SY*)=.PK;X=>)13&!EBL _8 ,ME@NRT7&!C
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MXDL]6V%I,P4LB$0GG(U]A%/WP26;5"H::@U87P:1]"M1'^C8'URX7_2#2\0
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M]OKW*L:6.M -"_YLZ"F[61'5F9^5LG,DM"=*:$<V\91/[\@F#DV-D=91Z/T
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MSA=<2("U9%6!"^GG![0!/X[\Q"$8TNT%$Z=2H. B>#F&;(JJS2]8<RY]E2W
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M"..)Q(1P0W:MU6Y:?FE!EFC6!>D=4_5)C -WQDD7*Z/OC?/)R7(BI#*E/4O
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MT0%]R@HFY4F5U<FCZ6NXZOI,S1H07J?!5PQ>EBQ>^TBLAI5D/1_4QU'Z:F5
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M/TV_O_7$]/HS,R@^#;_+_M]L,BWB577=Q_, #Q@,1E\2]*=IB-ED=G%AQO#
M23:%G]WHPA;#E,N8,Z($_^?2D0:S/03&SLW[8GEE-O1@TM.]Y5Q9G2?IUG*N
MW)I49I*>E7Z-H^I6D&;(+F!LYY,LP -]]HNYRBC.L\2W[]( OX41K@QV\=&.
MLV\7GU<OJ4;GPF!P"7H5QIN\J_+OR:5QB[\WDL$ZU[-5%@]"A&_<:# :?Y?]
M>]DP!WV??2G\]#Q=CO[C6DC3\?)3R52X_X=G=C2=CBZ6M #&IX4S@\7CJY^_
MS^;#.*O^_BXCE[_/'VPN+K__=RQ0Q8.I7WD'4 7#A9> "3GJ^\"M'8Z^C,WE
M#\^J_V[]?CL: ["6KY\S-IN,!H5?(>9NZ"?(A?%<>%]*%9*>/O#5G94W4X.L
M'9X%:)[KF=O/NUL<>[*GAT.S<+CM(S0#C.LEAF:>=[U.T6&@?;NBYO90>',-
M*L5_@/2-^^W3> 2VYFRA:%^^?/7J]>N[Q5Z &1D"\\[D<Y)4-EBY3\7P+&EK
M>&CY7:4'UDW:Z-KUR SXEK-/8$7GU@CKS3F_VX#Q!N,]S!QOG8#5F3!.V%_2
MI#<&0?J(.<DY0D>;(ZTS[I0(N!;35P>;2DT!*:7W3PE%QU&]K\O_[:AZL;C6
MO:5Y#+XEC7IC&&U,BR,0L/5$J)%MJ5$IRE%G-.I3D%SK!#0%'?9\&Y^I?=R<
M@/NZJD.K/%?OE'9G'MSA2WR-46>]TFLJO^F1U'DDI<T87431$35J75;BH*[J
M<A7T&/-CI]$=?M(\E(+KIJ.R-]4K"P[E !3!9&V]X1CSKYNPZ*G:"Y][:++'
M!LDCV EV!WW'RR:O+FRV84LVXD!;ML2/TH[_-FG<R9AL0_9*3D6UEE/I)B@>
M$57M)[GW)#M5*)\\,E<,RK=E0<CRK_FH5LJ5MBH(NJY9FZ;RH&KQ?]')[>KN
M8J/RD3_=+HHJ'S(O('BH $E''0,)R%MJF<?,(,:(H3$$II$VM4U%3[( :5)R
MMC*BU]5(BX*ALM;H=EG1HMQHM0:IKS#J2THV*RF!U\^CPO$G^S7*L_3/-WV9
M48^)IC%QF%JCFUNT>H3T"+G]U&7A=#./NUT[WT/NE"'WXO)R//J]N&BL5O'%
MIT_C\*FQQ]W:6-AAL#6;QN+DL/6/;_MBQTYFFC:.U#GG75U6WI!QX]&7[DCQ
M.,3LE!_:@[2FP":>TST*(CLEZ)Z UC!$9*^M3HF84]56).=$YESO81S;E?9Q
M7,F^GOMD".CKN0^N^;I+3.?5\%U@0\_9'HN)G9)T3\!10;0A39W33CT!/4Q.
M-#>XZM MUI3Z_24=0OZ=^TMXAURZ_;>7]'%V]QR\N^+LYV*/C$ZG!-T3<%0,
M=<%P/P4IM4[ $X') ?R[]K:Z9:-Q%M*Y#?VNMW[7V^/88G00M^Z14M@M;[0+
M^^2Z#Y>>JI84[B$)/0U=VE/50^\T=PK7NMF'WBG\MM\6O+&S_:2V!0N)VJKG
M/"0H#N,[/1(*N^UJ;SD$4'*M%UQU4[WU5+6)2_&<ME)W^DAU5O<I?%1:E>1(
MB)P],M7:0H'K(RV@:9V )U+!<^)2:IV 'B8] 3U,'HF46B?@B<#D,>0[Y^T0
MP_5YM'W>L\][7@<X3/=YSZ=&X:.*T,5SU'H5;#?56T]5F[CDSQGIM>H3HO!1
M:562(T)SR?<X\:*#8-FI,^VNW6.7W6I_#C&,Q\%G'\WOV8O))$SO.1A[<3%<
M6UWZ8NC_7!A;#(II$29W-:A501(MB,&24Z8MT0$1(B45@43/&6NS06WZ^ 'D
M6T20]7":FLU>CH80OI0'4J<VL8FQ9GBUK!:4WT\RO^#:%+AF2E;,C[!>#5[*
M]K.WNF=E(*]T:=7S=M)WF;VCGUIV,Y+4:W&D7@JRBQW^1.=/-WX][X+\#N;(
MR$^R5ZD#\AH<'U\/O4<(MNX?I;U;2J?O"=HI(>[<!_)$5<7#^<U[%,7/-1["
MUX-K7^F;+53M+F0?!7)'3)D?<.(^188=Y433U(N8( ;J@BKX%^?W="2^9TYA
MM3Q**4RST6480Y S_)0-1I-)YLQX?!5'XR]F[+?H@7]J>V4/W3&@I2X!+>\C
M[+PL6R?@E, DD,X9[<K!TFT=@WJ'&N:\U,"-J.$7SHUGP9>YDD7*J275VQ<T
MG,RF[2<JO=8):*QE(Z8YYUU1KRW4R!S+RUV&CN/P.0QGH7=K.S0Y[CJX$P!
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MG-B<.Z:0A/7>1DJY<)0A$%+ 7'(N2$0>[)H^BF>^+C),CS=[_AHF:64E+93
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M8'[KF*QL9@7I(7Y&#S8E(.,\82I0BSU,3(N"]@:,]\/'Y[6WBK034QM>FG^
MNP3Q*+GQS$6 J32&(FXEDDPAEG:,M%C_P 26CX?/E('CJ;UF)K+HA$I);^JC
M)$[@VI+![5(#^Y1!8"8)/R"GF^,B94921D(@1($'%,#J$!L])P;TK*Z+_[<Z
M;!*GTVOP"=L>JI4EX&\[)"BCBEJCE+7 A9#R3WI]-A]VE9@?4D\V45SS$#O3
M4AYU(00.L:+$"C,$ICUU)2<QU#0B[TJ!35<9RL$S"B0*19P%5DK%$.A%8*Q7
M6/I0ZVXWFX$^JB5ON([A >9*1U%(A=R6:1;@/P2L.>4.0AGI%-V[W.:XM0PM
M6QH9L.*1.2^U9]))ZXC4H$?388W"TO4TT9:'-L-7AS2Y1_',%38XY1^" 709
M 288.Q-5U(%83?G>ZK%KGOEQF,I(<EJ$Y$(S[J1V08$)BFGE@T536X6XC8KL
M&E./ZX8KZY 7$L+'R)@23+FH443$DG0TN]\[.#]\N?<),-D@#98],DUU9)AI
M@P)/K080PC2*6'NXZ)%*OJG6\N3UKD&&AV20G$<LRF"8C0B%&"7"+.*:"JKM
M8LFNJ8@C.*8&8VZ=2;L9 ;!@R8(52GCOP-V7H!@ZNR?L%!Q31VEP1@81T^EZ
ME"@: K8!"VHH>%A[URZ?@&-Z9(Y[!/SE5!CB,3,TG4?AM-$6><ED8#5QUI;9
MINYS_-"I%B^(E)%Y[2P"[A(5,?-*<8*)EP[5MG0[X-Y'=<JLU-9JSJ-,$1>C
M\!]$TUYZQ,#O)749_D;K*M>R@$0\(DU@5&#*&!?!M-ET=#3ED1CL!0U1NPT.
M>C]Y3= <,X.,$C-J640I#2"T=9Z 1RLHU>G@GSTW.3!QT)S $=PH0):%R>P"
M.*1,2:,0=SK %S[J9'D.7P!Y.&"=CP8^C"=_6)2#U<_A6F;.;YW?>+W1.QJ#
MB9)48 US$QQ.XY4-SO((?F>-E=X$1 K4E\"(W1KW#1(./;"(M7)68\^( 0?/
M:R620\V=%0Q+MSY/-NF/ ?BA&+/;RS/[#^QEI<!2W=^KLB%^/C]H*+5O?^&K
M>93#IW3 Q<4-/;UK7'T'WQ SUJ0Z5J0MPZ!4C#)4&>0T"Y2@F@+MJA'7]0BJ
M 53DOXT+XBLK^-!%R_%5E!\OT[&_"+=2;7<P'W-"#7="<)XZ 1 5(&+!-H*"
MY\S7;U1OHBG>FA6XT=.Y&?XTC%-B'#=8:V(43,@ VA[^T!B%8+#PLM8./MPF
M;9\E;$DD4WK-?'8#691BY;7'P ;!4B409P2<!ANI3Q[%P?J0'@-9V[#!!PMS
MBRL9/ L0,1$2B*<D&*L$0;6+?R352]UK%5 J.%O+Z>T_L"TS>7>9>(0LB%\2
M'1R#<%P)X963CH%=3(TQ=E,JNR3HSC \&_A,FO<,&F(5,6"6F*.&6&8H>$-1
M:(BQ@_'1D/K:CH=GR8ZL(IRD=>GF?8V-0^D[N,0IS)BH!: '(*2MHDPH(QUG
MTOD[NL_MW;)T;=)ICG27_+!F$ C*&7QGXYG@@4E0T)21:$%72^^E-S5N:WON
M5Q,Y^G9=YUWS('<)STI%!/4"!\N\3YO+O; (&P]A.@HU[EN+OO-ADB;=\'9$
M$!#3(RDL1+5(@^:F( ./0#!@]FJZC3?40_<H?G3#H$VK^R0UV,7.,ZX@VA#@
M'6"!O66(T/5EI\T<Z6;@1=IU%[6(F'*KP%],O"$::4J(13Z*2+RMW:@%O'DH
M.P)A'EMK^M4!PZZE0MHC67;] Z\'IHVFY2$Q-C+-:_?_[=V$>]VP,W*[YKH3
MO+$0<AHC)$M5Z>#O^_2/4!*,LP@UQ5@--"A?YPW!MU=9CCHA#!+6&HEQ-(ZE
M*B$)6D,AH1A+ISG4+NH]F%5+14:4X.:]N:95I1&>!X%3!S'"*'>&@X;D%%%-
MA"?QKIZ[QU&55.GF8X5FG%HK%(E((*^=8%$8F#718R,-"0XY5UND][")V2FL
MTEA((=9:AW4NO64-]0@\1PBR3-JK85&T5'' G'&!LMHBL0V@ME=ZBPK$<//V
MN"&,67"VJ92:IM.+K#><I-Z4(J2Z Z1J"SP.%+IK*3$%UZF3KK&CV#GB(V82
M@O?47]:8*#!VJ=X%U;>^.I5$X!ZAX#8<E!P,/[ KIC8)H,64%JFV"'0<J#-1
M4QU[P"COV-%9TR;566,==M9'FR(S\*_ P#(FL>+&HU"3G-S$K6K(I(*A8+?K
M,%I%Z=Y>K L6O'IK8::#1X_!IPU8LJB=LMS;4%.*T5Z&8L]-QITSZ9X[&8-A
M.(AT:*M6\%\7<5010NU(=SSB:"^3CE7JD=_YM3XON><JJ+1,P["$@)P0'+6
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MK[2F3FJMA5578.3244>2!R$U G_4*8JBB-% ! 3HPK5G]QT(1AH+IBEJM=K
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MH^MRJH'C,<Q(6XS7&46A5D%#&]7":D/?W['KN[KG^[ICZ-;TZH>_YYHP\.B
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M\A3(ZX[TU(AP#^)>$GS9J5@&_3&0Q!E6NL?2SCG8TC0'KU3%&2>YQ7>KPVG
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MD$,MM67$2 T"'+!B,;V"5=R0-$_R-(]EDF<#]3,?R5;;$3UW\UN7<))++!K
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M!H4/PS"K">T8\/1#$\^[LIA@GO+QABW?*.]VH[6=J::%IY?_(^=")8(I0S-
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M,1)30O@HC8\EX/JX]O'1 7A*A$3)B,?Y*'^FI>,$X"G1$B&C6,2C[)F6CA.
MIT1+23S*23XB3XN6OHQ/<0]/[J)UM_EGF$X4KYW]!5D!GL:UO[J:@TLWCL[F
M%_-J5E]@$;&2</+/\RKNT0'X2IYS/_%=>G0 GLGD&8!G,OF3[-*C _!,)L\
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M.>OYM.;H3VO(*&7Y\SW6UP7 O3VQ$2,FR!&EPOP:-N_1 ;@OZA$\?R:=KPN
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M"HJZ,=I&Y*?O1Y&\FDXN C$AAR&(=4I.V/&?[02I&,1%X1N%=1<@"0()0),
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M[; SA'D\(H(\AN0_%B'_1=)7]%AI]73P9,75&T63</#>QCA-2VS[&$;;\Y/
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MD]GTK@=@W6NSF\GX+N%-!L[E]$Z;0%<:=NCET<M[>SY6@N\KD/DECXS(Q^M
MR(.PP"9ST6 Y[!Y6#K(HTGGO\*$H+*T Y$,>D,5PPOVU>7\!WO9JT9\N^P/>
M7SI8!'V#;"RR)CJRW(%'75@#.P$DPI(*.'X5](_QW70\&@_ZL"0:?%FN8+&[
MZ) 0(-'7=<?#QH2@1V(2%M?V<1!\7X'"QSP*_<%@\04ZQ63<OQE/QJOQL,-
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MO[A\GYN\Y5E4F\Y]*3/R"S2LH%--K26VB.W<(PLZH'C%5D"@FB+#W=ZT#X+
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MH3KL5L,IB).0GFC"$$TE#<\L)*;Q%W\+@Q'#M!/B+&+,T@V)&<X;[D&TJE_
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M$2')#% &Z&:*J)CEQ.A^#7HW:526:'6-R^(.I_UQ6D/5PW! -2,8U1J.17+
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M)5S;"/>Y#;MR:"$PYT\TDKJXRGCJ5YHGN"0KEXOZR=DZ#-=W+ PT&:HZX^N
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MQ(858ELRKQNP620K/T7-4@^<O,8@-AI',SS028%_T]-L-US8'G3?8=/Z@MF
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MF^(]0N*MB/ CWWOT/LX/3:5Z$U'L\W;31[_@3 F@]#M/YS#\/C\8=4I.1%+
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MZ,'H%P_B74_9;1KP6@V^.'O%J[$C+[\ZZZT@[4<[ 4MI-;>S0UV0J29AG:Z
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M]NWF0FCWQ80 ;XH9A?G>L#VP]WS@(=]1[0+_B' !3VZY5U8L2 -Q)<C(L->
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M&[Y]##RKPQ\?0WGD6_+^43SOM79XE5T3AU$9S7VU$[/3H&A_<HXCS7C<7FD
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M\2*74&SF48AUHZ;Q33F 82MQ<\#F&IEJ:XFI)R3 [(]!?'* !;)]+E*K[FE
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M6\,Z+G['"$%0&YP_#,X;)LP7IAIS@UV;21(Z8VY\I(T/4HBR R^)+X//H*3
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M-Z1:B.UI.X?D&>.G) *@;+_LP+)^:0B8I3D;T&Q9QH"SH="$9_G8$X!VJD8
MT?X'%8.TE!/!M&G!'5#+>TAFV8<P2GX/-UNZ^V._"5@\0ZZO64-<1W,L_O&^
MC))#VZV4.9K6@DJ!A!GADJ00)1]IR 4]6K0[!$-L=.5VB(HWTF*QKF^'"UWH
MFB8)7<TSMOSS,LJ3N?(D@/(%S6NG*'9O!8R>VFYI#%9M])H9G".SBVFT?,I7
MV6B8"AKOR=-.P/4*'$V L'&5UUVS@[/07LRCX]43P@++TV 1(1&-+53K&S4_
M% 8[P3.JO7BM>D.*5[XT?K(Z!+FB7LO6EX8Y(&F@3$'#W+B3Q,$07!R_5F!
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MP/ M@;G>$QR1Q0BD):E,2]I"/M.P;SNIZ;O2S6RZ%L#TIA5R?<YQ1&!0)#I
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MPZE.#2$9Q5?O8?BTLVX98%KKG#.6A1O%BGREMS$X.RZ7/T8HL+TNG,$KEXT
MS?$*9;!LND-L A5$'+<_T-9P,E5<-S'<UC73B/.2\6[_1^!$,$&2<<0X7$,;
MRTU_1N.>HS1B\0>6G+'M7;;>;F;+)=L*MZLI1?>4E(B.IR)HW# %57X4U).K
M\R,BV#--7OA2XE4E0<)*Q#F_U'7-].NDQR=0J\,CA75G_+FEX>8\Y>?>P0<W
M2&6J+P+(C*2*T*I)CL@<R,@!ZP67++XOMV%O>/NS3PG=,D)>B4SCF[<Y(!1O
M@E]BSR'JES1Z#N\V%!Q2EHGL,"\2&0WYOE&SB ?MRP$/J 7[-YX,]TIKCN&_
M=!?G?>DVS"%K+E&>?Z5H$X7ET0.S-*59N8F%WA>#R^R4Q2G;\)/T^6ZRO/!]
M%@PVL6?) !/C6:3MU##+AOI7L'"8V:"MR3.V4K<Z7*34YGANZI//A07W?!Z.
M068.$[UXH&VM$R\&EL9A/-GPHMR$>9=PD81Q&A9GFJ3 4 A6?!<G5.*C8X+<
M@5G^HWS)N8XP$=R>7\X6YV?D9G:[^$^RN)U=S6>GBXOK*W]6&Z%QP(;559>7
M<LTV!S%>O. ;D*-" @).&<M/NR9M\48C-Q4J!=5S4KSP)CD%JPR OSHQ[<I"
M$/<D*15R[A+8*HD5ES<BE\:V2:H<3-"(='T-:$3:)CI$:<AYM#D2#01U*R*L
M+%0K<BG:%HGSXAOASK:4)YL+UGROE\FA3,B)J3!AAZQ2I\8/@QM1B ',5IN%
MV>[/]-@HP*D# !H J* @M88(%(C2..*!L;/FQA3 !@F.)2PX(KEZ.2SR)F,_
MDK;@=X8L9:L^7%'$Y2H1J!=Y\M(J;7^3LKZB8JA$I&AIT*3O:HKA$]#KD($4
MP%BWV^C!CN4!0$&,I<BK$#>JTK>!&5^!//M&83QG\22UR<J):#B.=Q#16MU.
M?TFGR;)!M$+RR&/B/!9K6Z[7C6=((DDT%<02:EHBFL#75!U'B>\A;(2L!1^V
MY1VW3]N$'SM:I&E/N7:TC)[*2<3P/J'4AY4M^DA"$%=1Q3@B"XQ@B WZGA;.
MMOM_,K\&L2SO[55:?$J\\?Q;@K1>7\XPICWLN2GGVD!9Q6"G^1FXGO4)TK]!
M\W)B?5D*Z-UT'5SKB/$4C4F\GAIF@,3CJ;U4??KB $W%4(B-LQ<U?$V5#$I\
M#QD2 4]?A)>9>,E/*7 00R-:!S!J&,$,CF"/7[2,7MNYG\RO0>C*<K^4[)7(
M9ZY&"CT_VQQ+F-9+_@R#VFWR%V?AYB)>LD=ZQ6*^TRWOUL;WO:9)+K9KAR"Q
MT;05&]9M89YI<L=4;8S4E9R5$M7@.MH4>S'OPY1L:)A2$A62'NRZ5U8OTZN*
M+HO$&FW*R*Q:1(_!""]W,A0X1>SFK\E%!9>FQ.O #1A^QP'';6!]JFX8NUY?
ML8SR"\>$6TOD8KO "HF-IH;8L-D>M-2'G!@2U6#WE@];Q?EK\E2^YI%ULRT&
M;J,X[U70U'F 550STZN2+D_$&FV>R*PZI$F6=]GIZCQ,XKRZTMERN7W<%NG3
M&5U'RZB_"@^KL*..6F$TB50NS-()Z4U.+)21H/&<K,H7KIF$KG\VM(:Z[%+I
MMGF&\^0-XS[2QSN:*%C6%@*850L99E-IUL)8DL2-#G4:BBVZU.#X7 HX[T]+
M:U3"E?[WE_.CE)=QHFG1&E@,)O8R%\.04B3UY4M2OWU%0 'S^>%(<9O+/]-X
M2V\IGU[(BW5#DS5+'HM;2.\VT7VQ$.!F=]AR+Y8.TMX%64WMT832\F<VL1GB
M6DY ?8O!3IJ?GUV+$[:3)_3K$UUFY>68=Y0D=,GNX^@?E!]S0K('2F(^B'K\
MCCRR.'MP? ;04/0Q(Y#H\E_+4#LP#"B#ZX A+"2XNPBOT@X-"A4S\4#JQ$(0
MP/A#,%]M)J@DCTA#ENR%/=KKH &0/GO1%2BDK%1;P%.$-]?DY%LI3O, S4OT
M1Y0]G&[3C#W2Y(9MHN4+/$<_1+E-6+2R&>HBW5D@L9YG!)UU#-;$+LXHR=MG
M']:S#<).G\L#:E3(:J0= ;^U2N KT\^_5H/$_-29_/]7B_"K'MUE%G"<%UNP
M2WR13RL3J4-+,2(2@%:#!3\=.T_6"W4_DO)!L,*' U4]:\4$D3&-P "7Q0W6
M#8X.#?9O >;'^V:OV+M;ZY(ON3*IM8_(3I_4!DANX5LF!3ADY8(5W@]V#1GB
M&C*P-<UPUN2#6*:&KG #5E[0&HD-W6&GD8--VD-,?F2T\&&#XM=MRID\3+!M
MT *1] X+%*C4#6+Z5R]XH#CP#_Z>0G0#!_J)K+C#;)3^F<[BU:?\TR1\>B>+
M8 !C9&LTRV7'0EMFW2C.$8ZDH%?J!_.+7Z\N/ER<SJX6Y/33?'']\?S6HY,Q
M477.!E1-AS(RM19_U/;=D8F]A)OL1;U@6R57DPB6&TL@R++YE1P*3U+V2'5;
M:[:34M2C5=O*.F::U=$A#*32(HO<KDT0F>O#J[P,1M#Q-P,AJ/\\&D,N^\+S
M[5VQ4Z,L60>CXI?5S^^^',F#MCGC$51H7@9Z@4)0/R-)N5VA!+E;? -UQ#!?
MM@WDMEP3O2(+QJO;6*P3F]:KZ^-&95\<:"T#\4JGFIU&IH<PH7=Y<5:G[/&)
MQFDYPYXD>2T6I]&<O.Q%;LJ5_[,O8;*Z?BJV(N91EE]#1%=_T.C^(?_O[#F/
MN??TU]Q =A9F]$,8);^'FRT%>FKN"E!'6 <%&$OKR8MLLJ/JK/32X.2F4$$M
M3BIY4B@0KD&X"BETO.EC.V0K<UY9XD _>5E:C8FC+W'X[=75EJ\(OUX7TMUS
M*2U[,=WR=+WXTKRTRZ7;AN2=MXBMYEF89-(^A]723M)F"#P'^<NWY5O"2G'"
MMEF:A<4Y@D?DCMY'<3%9Q]:D_%3D3123M+#QXRMI)@#^V&@+8+!:"OAMAU:B
MNN@W^1L<M/JF)>3/XY6CV*#L[=ITK8P.-%Y]CPO6<?J: D-_$,*CR/#.N[ZG
MN(R. L*['X+B'V\+7=*T3QH.R-T+:<I53DCAY8A4?HIS84I/^9^%+QY*2F_?
MPX=!,+^F\/'N@/N$O^-ZP(;[B)I>#?49T5X=-P;(<OHT+JE79)M-A4Y)@E*X
MR!%7;+,)DY2GC66^>.#IHB[%#,;_ ?@UVQP@"V"R>=#ZS0?>6E@=/I2Y,-H.
M>#9P*"H4.L+_4D;XF-[S4W-LC@I(BFD_JHO&"ALA_%5T\Z7X-QZDIQKX$WDS
M'WX]'/*#"F9N+8K% KI@]+'9_OSOK[(S[SI(6!H%=!4E#GD1TOE7FBRCE!]#
MVLD^=YNPZEV3VW"SH,GCL>&,;40)#"5T@TK@N&$84&:?.OS#BV^S41E:JOU2
MI+!:BI3L]H,N]PHDRS6.=K-.=._ML)N3,0PVV-J,I(39MFA 84PV58._Q>$U
M9.=?GZ*D/GLN8BM3S1-D=VRCT[?KJBGIEL2+!@(HE)6P+_05[)]6BP .-#J#
M #81<V78,11)NRZ,Q$=QN0\OZG6G%:M_?V#)FD8.IN3&%\3TRLX!!?%E%8=V
MT2T<'>;\QTRR(&18X8*=_*N<^S/ 91O+04:QPM*"$>TR65E3,O#+''2X\V8$
M?/S/\#?2&1Y-WQ6F?D1VQ3DBN.U<WR.K/]CX'EKA3W.P/8IRDF,6\YY2<<7"
M@O%'U_LE\H[F"<P7S.AZ$#,%\V*ZV<1/,7\^AF\_S?[LMK'"[N8GWM;S$]7N
MEC5+&M,1^RM5GIW?UNC/%[0W,6Z:9S9FTTV4T?P<O+DO]ZH"KC=](O,_ZW"B
MK9452,7Q9>>-",T?YU+-C8N]#M3^4.)&.0DOZ/?8?BBQW>I2J=<=W ^Y%X8_
M7,39F5#.SH)RWFCCBSKLW(ZI=N9[-1.#G'G1W[W_:F=GW(X9^C#[XF9(\,!F
M5\S/IDQ]NI!?$RG8B9.AIQ!]CU?NXI7M.0V/ Y;[P6>]\OIWK@FZV/Z$*9.G
MG[0./^F-150+DBFY2:+E:YG%/8"(9OO$%(\CVB&?JP(<%W.;YP8?6,(%;?7[
ME0[MGL#9<NA+@P06T>=UEZI".SAPJUN(8+^MMEX0])G+D$KHM9S8K.:4_>.S
M -1.<I!6P_<$9VKU?NE!A!%OYN[PQ74?06RM3^QO^/\>F*;FP>N/3(<\0=78
M8'H19TD4I]&RR+PM'@\ .#)_"D#/D3^;_3M%\W*"25G<B?;PBYP'LZ>GA'V-
M'OFR\O#^/BG.O")1+4J>N>SKWJ0/\<C.7GP)8JUMN>_XM+2S7OC+O X5WB29
MZF*ZBQ&&D\J&LR.R<_<:=K/X%%(LI8T^Q)1#3A/!?333W"&$\VI[Y[EG1X4B
MR^GAZ:%Z)7>RK5)TQFA[MWA:O'DMD_I(ADVQ:W'R6XCD!9AD.Z*'1Y9JE-6;
M=%2SS)Y$EBEW9[^N U /(WQ-O</:B_AUR-FN_D:%=X8SWQ$E,)0%#RJ!XR9K
M0)F]V]\\_#?8;,V&EDKG1-7#;HK&,-9@LS22 F9;J &%,=E:#?X6AQG&O,G"
M1Y3?PQAF.#O_-K?Z'G9TM)3 'V9X=)K8AQN:WM)G&F_I%<T^4M[KZ*;>,IDZ
M.1;+C(W[(JM&#V.6.)!&3E OJ)Z2S^5#UPNBI'7'-#YUAZDB\1:78'MNP0Y#
M' :V23A; K$>=)N +1[X!%<%2%'0! #I!PR7#W2UW=#K]6[TIVA69LLL>HZR
MEP6?[ES0K]E)7H@_NT@=I%R#65-Y+-ZUW!FEQ!#/4M;H&RSVN?[>&C=V3*YA
MT&$F*K1#42T[+18/*($'1"_*>-+-+.=97L8*&IKD'VNP%Q"&&S06)(86P4[@
M&%D:7# 9Y20HY*K80FI!7V+,:(0*XXX)C$"Q:*AM<7P:5U(/8M897=,DH:M%
M^'66IC1+9_'J,@KOHDV4131%!JI!5GK12=.*L9"DY==.'!I2!%SPT;<<U"HD
MUR&EDB_Q9AC0A$%F<*U#D47+H#B<#"B3%S'D+D,'"DA4$ WZH@8IWS5NB]>
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M@(T>L[5L&*.YAE<[G-<O "X Z-IMI0N52#76UE0O<H7V:\\"Q1 L"J/&0&A
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MUBME*9T%!<-;K5H9Y<X;*=Q]CR6&4?W:@LDK6?1VRS:;#RSA+^VE@0(GYG/
MEA-_ GVC6#[M4I*6<*( WW4<[._XJ(3)9RY#*B$O5_P:(X2=B S SUHT;OBS
M%(I[O\AM&&X6311!1>^;P:_]WD3<:EJT=^ROP(LR;/1T@I-PX^&]7L(ZZ_(3
M^LP":C5%>ZSHV[$!@@&S:;@Y?9$C;2 <ORHDR')>+2@8FBWIFC4[KR&RK@V
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M\KEC8B4[6K<MI))0KZN/J)3QPHU#5-5\+NMPC+KL%0-&9VXOX<%&5GT;&?5
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M737.2PO;>M>VK5+8#WL:PF:!!@44Y-JJ]Q#LNKR*-[-J;V\ZNZSTAX6)8+1
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MZ3,,KW![.6)2R_=YJ=ORZ$A3@N8U[V=T1&0 GY%;E\9'/VK>L6N8WHYT]'2
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M2[+;IWB+DRQZQ&A-GV\X35./^]7E>OT+VI)XPZK!MR(CTMW1R5OU>N8^ (#
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M% 1)WO#I&#SI*P(,I,R4 J!T)41I\#)1*@C$O*'42X#V.=IC2HVE =DX42\
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M<^;94#ZR1'<@NN >):^1+1'F!2PPTY]4O#E,Z,17/D/5PX7,>HZ($,QWEI
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M1P-X1&J@5&C2VC(N/A?U*IFQUL6$ZFXKA?G606&0-0U9*/TAH=!*FN8L,\>
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MG&>&]I6$,Q3$)'DH?'6(TSQ@MP3I@#(77!#/['D5>"#:H]>UBW'ZVBADXOR
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MDB2L%G&,V)%'P+L[A\>0E2..[E%,DH?9MP&,T4D<D-.[J*\IH;FK;Z1R*K,
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MDTWQ!M+ P)2M_"'TV5Q,1E<+>.1@J%AH249R^'5!ZNOOHH3=>&&7-)AUE4$
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M?DTM#A<D:RB F\T,E F!KBWCHD.)&&GK.OAB]DM,,$$L!ZUK,QK<M17I:YH
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M,/305^@(P54;@B<.-D'H 0XVV'V.R@])CWH45-6.AHC**2P?%PJ_=R'5(X[
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MFP+D-*@1Z.]@>*!#?2348S$^'&;\2SD>'AG5P:G1^# (CHT:XN'!45^0!Y
M'Q0/A9O"HW-8S!XM9(YT0(#JR%@? E#'QEVI/@Z.AQI,@; Z/2"HCI#U@> E
MR^DZD;NTP?.>0VL]AT!I+<Z;,^MK4$*TRV#JR$BR%#<V',D^<D=__''8UJ0#
MT/:$@(,"UGD-1)O!H>VX6,7?9<U6AB.N<%F:0P[DKCHR/3BK@7RS@5^=TL K
M7)3FP-?NJ?T;?*3_HA]6']'_N0LR?/'_ 5!+ P04    "  Q2.=0K9LU=?]H
M   U+ < %0   '!C>6\M,C R,# U,S%?<')E+GAM;.V]6W/L-K(F^GXBYC_X
M>#^[?>FK.[IG0E>W9K14&DGV.ONI@V*A)+991)ED::G\ZP\ 7HH77!(@6 !*
M%;/'K55,))")#PD@D4C\XW^]K].OWE!>)#C[Y]??_^&[K[]"68R72?;RSZ^W
MQ3=1$2?)U__K?_Z/_^<?_^\WW_R$,I1')5I^];S[ZNKRI[.'59(2TN*K^X<%
M^1-]]=<_?$?_WU?G.8Z6>;)\0=]\0PL3JE__3O_S'!7H*U)I5OS]O4C^^?5K
M66[^_NVW7[Y\^<.7/_X!YR_?_O#==]]_^_]]NGV,7]$Z^B;)BC+*8O3U5X3^
M[P7[\1;'4<E:W"G^_IRG#8,_?MO6):2@__JF(?N&_O3-]S]\\\?O__!>++^N
MFT@_ RIIR-]']+5,W__XXX_?LJ\M*6&42%BW8A/M??55I;\<I^@!K;ZB__OS
MPXVP](_?4HIO,U3>1L\H)56RXN5N@_[Y=9&L-REJ?GO-T8K/)\WSE@W5SH]4
M.]__A6KGO_:<OYW2O!<*I2=<1JF==C)^X[:.JIG>Z#M;JI4U^<ZFELD01P?0
M<J>:Z8V^1WF"EU?9<OZ&#ZNRU?C',LH/ )5Q9=,%F+_5&DW=;',4[^(4?2$%
M\S_$>%U5<$,FJS5ZBMY1<8G**$D+=8LW\0Z3%I$V_;FR]O_%XS*E58_H98VR
M\@%M<%Z2^?$"Y^0O0G-6%*B<TE(H9YNM__Q*?BVB%'VF=&?9\G-4E%6A1Y2_
M)3$JSNC R9:7Z VE>$-+W^>D*>^58BW*:Z\M%C1TDZUPOF8KD0=26[9%Y[OZ
MDX4^!G&?(L59'.=;,@J3Z)FLXLIDTA"2,)NDZ>0E2U9)'&7EQ;8H20?FDU0K
M8S>EG0\H97:8&.#=4QYE1133CIO25B7+27I]C7)$QM*2*.#JMVU2[B[P^CG)
MT/*,U/)&_DV&T2]1ND6+U1W.WA 99<O%9JI,5JJU*W?;C TB*J8UW:=19E5&
M1153Y+G%V0OY8;UX3I,7QIK:O\6&;M.(N;Q%9'?"_D-J7R?E5-,TJ;K9Y1S3
MS"VJI,8ITC:3&YW')B\9),RFM/$Z2G(V4C\131":J="2\YO24C+]%X09ZY_%
MZB8C'Y-U;W:-R>=T=U,46VJ(8KS-:!??YS@C?\:31;/<@#EU<17E&77HD T%
M'<(X8]9L1MD5%<XIJYV]@TDM<TK%]$>=4LONA#.C@(H*YY3U(MHD990FO].Z
MB[)8K#C;@AWY:TUM]R4BTM)BU=^DRJ3F7)6::FA=MG9.+5^B%<ISM*QW(3-J
M2%33G-(MDI1H^*>H8#/Z?;2;V]HK*IQUO+Q&V0LJ;K(+G)4YV4\P%#& ':J+
MM9LP[\R?K)^W>1$]IX@-26*LM[013_B2<)IURH?5/*_T3--D]8')KGCF64)2
MV;QS/-U#SCVD>;7,*=7 OT6KSTJ<3_/@6*ATWKF>$)S%Y:P3]* *2Y[I)SK*
MISJF&R9V_9;F31/SLNN?F=!"(:^Y/1'F;=;A;M?#8-YF,2_K_@7S1DK9S6FW
MS)L,Y3QGZ^]QFL3)/.W?\[9D9R=:6-NVU8Y5G=:JCA^6C%"ZYB96!&6F72IE
M9_<LRLXAE/W3)UO'3O.<-]D\:+(]D]N9P^>?O>>:MVW/V';FZAEF:6OS\[QS
MVQQSVE1KG15D4ES2X?A(*JFTL%A=1,7K=8J_%#]GT7:9D*]FQAO.W;H4B]5X
M*-N71E'+''U3C_%JP%,/.*D>947RAJJEQ2Q=IE&I+9G/HY3&HSZ^(F(TR%Q!
M&O**2C*GI=8D!%4QBSSSB&"IU9<XWM)^)UU]119<Y6ZB#9/SZ[9TT[%VM^2'
M7F7HO439<J\RVM9ILK":F[I3'/>J2VG,-\['P8<%J8Y%'A8H_L,+?OMVB9)O
M?_CN^Q_I']_0/[[Y[OLZKON_R$__OL!O9 Y\+IC[N>&7TEC$?W[-_4;:244;
M?/OV0,VM]/2 7A):<U;>16LT:+6,I&X\GZ0O0[>[S_*^/%$>-QS)G[V^'@>O
MUQ3?;M@8_B9^3=(6)JL<KT5ZQB!1NLW\^U<]3E^5^"L^!YR3&>&?7W]';S@0
M!M59PVVE/J$<3(BT&Z5ZJ.Z^0/1T)+TA ^S]_Z =M[\%-+T.']'XVN-R84!=
M/F)1]_GWWO?Y!3WZR<KKI"!SW7^C*+_*EO08:&B<%&2-G1*2^=?Y0)$4_2_F
M4D/@!^\A4$.X$J0-=Z9KOFW!'_U2TKX1$)#Z!P<-T6 F0<"IAL4? X$%VV=2
MK\P;(K".:JFXL)"3]F A(O45%B#10+ 0<:IA\:= 8$%V&6E*=W]1QE\A\ AZ
M$.@3^-KQ$C% W=TO7W?RGP/IY.LD1?D%F<Q><,[O92Y%KYL'%+[VLTP04$</
M&-0]_9= >OIQ':7I^;9(,E3PYWPN17] ]RE\[6F9(+ AW6=0]_1? ^GIJS7*
M7\ARY*<<?RE?919<2MGK>0&EKPB " 9"@H!1C8B_!8*(.O:]Q/&OS(-=++8E
M30! $S'PE_^  OU-@+2 KS#1$!.V(9#RJT'SH_>@:=RH3X3O !Z\3[6&^I_\
MZW))TQ6=VR_9^'W\=_:=D48O:<.OTV@XSKG?:G4,OOG7E;+&*_IR4+3I3/^]
M> T(VUP2'!>>E&8P3 <T_G4R1!C@P!VP:#K=?[]=(\#>]WA-?ADNWQ54@XX?
M4?G;]7*!@)T_8M)TO__^N;X(%8K5 .#0<2'0H_,=!&*AM&#08], (12/W-ER
M260M6*C&(K_/\5M2I2X;+^#EI+VENXC4/T1HB 9:KHLX-;B8ZL3[Q[<CU=V2
M'V8-@0"$BYAAMH'L*BJ>F=#;XIN7*-I\2Z,_OD5I632_L'B0#H#KG__=B:.Z
M3C+2LH2,1URPZUJ"@ F=(G7/PXH8#MSI2JC"(@7B\C\VJ_+!1\<BU,<:4DD$
M-#V!1C3.Y**1BC3@C?P/C>U[BU)$(]'+BRC/=V0'SP)(AX?F.F6:$W18&6?V
M5]YWV$SHOD'F5L'.VF&LS>-MRE$.01>6\!7GY1/*UYVKG4/+)R%I+!V7Q%_8
M $0"HH3/R55 C@6+6B5E*6BJ%H+YYQ3=H9)_#@\A;>RKE-1?G&B(",2+G*.K
M*)[IN+G/T29*EE?O-#$*X@-&2E.K44#C+T0@0@&Q(6!E'L/CQ0S3W)_?T:LX
M_T(IV?+FG>OU9(I]C-+A8D:O4*UF:"%_P60D-A!=4-ZN8H-L(*V]XKHWKR-@
M26A:''%I?(:-6B@P2KBLS&.)O+!!/7%E^T/9OM!G!,B$@*Y,^BS,8XK*409Z
M9QI3JDK@#^"I3*BK/0]7=R]L+-_P!N7ECN9K97>6R(Z730MD=3I:Q:E)V\6<
MC-1#;&C(IH*(G)6+#>+X@AS]Y=_LAG2V_)30)T_2A^3E=>0!D)'4ZN"3>-C%
M %E47<MG8;YW\V**O,-E=\KOY$I(4'&'JZQMH\E3LU2M8' I#_%C)K$*4F"N
MKBYT3 ?8HGQMLGD*X22EJ54IH/$0*A!I5, 0\ AWD_: HO2JH"=C8H^SE*96
MG(#&0QA I%'!0,##U14/"]:@ES&&S:&+U<]%];S+T"I :!OK(*?U$!XZTBFM
MA9S7A#V=#TN4)G-NZZ.H[>((,&K")@I)0N@A5,!RJ7 B8^3JBLE,_C_A6@-(
M+?,)>K[^T)-0A1DE-_.;*%Y8EWZNL9YSD.L5]+++N>V%>;.FW KQPN6G%:&%
M%2%.?9U!6.\U>0P.P4YJ24%<E82B\0GQ*'R02!XPIB8<R^=/Z%@38' ?[5C.
M?6GH!I]H$+0Q)'(VP $=@X&R]8>WF'$W9&/(T,7@%OAPQ_E@K][C=$LO^W63
MG@K!8%!X#Q*MPOZ#QUP7FJ#2JLC\P,"/Q55_#/7]FR ;)2W"MUB"(OY#4%?N
M"=9,P#[<0+3FN9W/2?G:Y*!N-"(P@#I%VA2)D"*>(\U ;AVDP=@''MTV>,V)
M^=T$!@U".O!+\4D]AY6&G#IPDK,-]T!D++5R/Z+<AWB/$:5,.LC@,9L0L.:#
M+T.VN>:J#^3&X'#EZ^\8/!C2Z4?H%=8L!5D.>.$E5@#*3&P0NL"LP[TT,W@L
M6PDR,#WW4#,H8.F*"H(4@*F+#8S .</V5G&R82UF&3E1419MJP?8 %(W$98J
M:E]QH2<F"!5*EN9;C3>4/V/WFPW.JU'C-:)X<>@O&L3-UUW 3-D)>+'RTSW%
M4A_#F!UE<?F&.T6S3'B]YW*$>1Y4A&UV!S&ARVN85:>PUO'2!$@H]E<PQQ0.
MQX.R/S!$JN$H$'&M+V*.N05^T;^3$)()),Z[":!LMST22L\1 Y=2!SE2KN%:
MS[/EDDT09*J(DN5-=A%M$C)7#D]LY%3-(8V(RG/ P*33 8N08[BG+V=QO%UO
MV9$2BUSG/-EVBPL::+A8/47OXR,_D]+[TS^]TKX#;I(VM("H6U.XMU >Z)/W
M&5I>17E&C'+1$?T2K<CV<;@>A!=H+R:H"WB./&V9=< &81[N:<Y8=N7^0KFO
M\!XO2IET\,%C%OAICNZ>'KP'-=O:R]B'N_3H.BRRI7(<0LDYL:Q\\F#0I2GY
M=/<1OY()@1^C,>U5>E/!@[ZG7*=>3<L?P/U'@+C(6<<LF3/B'N7L+1"I1U!5
MB.LD%!?R?.5B)+NY*U%<0;AQ%GT)J\=FSK;E*\Z3W_<FE8LU$3$78V/BH+"E
MD-4<4V/&X?H9>9+=%,46A*,^H01##6& ^.'*.!4[#=-PU_X\J<0''$!J"8)"
M.NC0DW8JEG@''@&Z"?NBW29$]B732?4!D<6^^G!578P+,5FQH+ &EM\<=+(J
MPG4B=DX1@6MXC1+CL]M@5^_Z4AN>Y2K7[0%FX!F]$"E<M ,HQZ *;KD.E](0
M1,*%^L'?;9X!/*!P$M7BP].G6PWQ8SVB1+S"LI6LQV.OM?LS$2N17ZX]U:T^
MBL6J#J,G7^D[-^,S?_>^ZZH=;9L%/EL%52^#$X?*H5.Z;LL3)U$]_^/0V_[$
M2TUO+D*1EYWFDW\-FTY^HKFBE]NX) LBE+\E,3I[3X;AZ#*2?6YH#HD+0=@!
M5=6(XA*OHR3C2R.FZXO$H[-WF^03HA<;EI_I$/^YB%[0)[1^1OF@R0JJNL%"
M*F>S@EK5&"I<?QX0,J;&7\C06<POM/,724HD^BDJ8"@0D(O@,"(/#!=R<:<
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M5#((7B2\@E^SM1/F/L.;R,<[IAAZ=;L4GN)"+8W6,J/+98[\5(=$ MV45/(
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MG.(*6XWA":@&,)##6LK@B' -5]1<P):VP/S0Q%-DLV%<_4Q4TV2?US#5PK(
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MZ\8&AG4JG_ N^Q'X(N"[72N^"&EUX5[%$$A[G611%D_P10 8R"V*E($?O@C
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ME2Y<?\YBLAF.DDQRO15$VXP'.:V[T%1,&D3S!+-IB312;11TBC1Q,J B[LP
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M:?_0D<YCQ%Z7[C (? [4S.PJ [!17M<!P]!/*E7V>I^V_F2@#V>@:XU+K+.
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M301)&8<;V#W+E(3UC/,@WX#%%O6'/K<E :^F%0LL/.N"8[""YK>%Y2JPVH:
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M?7-]6TWO;('U&+^BY39%BY6PE;R43KK%:DW B[F[WR]JV/F.GNERH@,U2J@
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MK,1(UF!U#'@VU9QU5&LTQ+> ^:XT=Z@D2]L8H65Q3?J*)M18K*[>Z=N%U16
M1C@)J+5Y<-"LP2-H&)OJRAY^-5K@6R1_IY6-"&1&0<D;6C[@-+W&^9<H'R)5
MKU#S?B^PT$%D.X_(IC,>97G1**&6:E_"V?#2["ALHH'^,(+5R-XAAM1DO@(G
M S?!R\<RRLM##IJS^+=M4B3,?L#!Q2NE!EB_U'& 3**)&8#6K\VW!;-,1!K<
M3]O^RHE0T"X'L-"#<L<!-JDV9H#;L#[?5K&2IB\V+.JA6JAK6#9^.37@AN6.
M W!2;<P N&%] :T^GZ+--=)9H T*J"'6%C@.;/'EGP%4;46^W425M)ENR?2-
M%Z^4&E?]4L<!+HDF9D!8OS9G"48/N:W\]P^GC>5(!X?86AK<B*VVEE<9/U S
M .^9D?]FFKL,6J6+!-R"<7Z3D8UAE/):+O2,:96I%0LL<PC!!/8+7D ID@>V
M2Z^/L('X_:$"JH^.$4@]?CK$Q"V7^,/T"BF1Y8DWS"*ZP+XP"PCSVQ,F$5#F
M"-,MIC;(OKC!+*),PPEF 6>^N\#$+9=ZP'2+*9'FC?_+(M(TO%\6D&;!]V7K
M6I8VUBH7"QAC?7(EMAKR8\ 45W3K6&IJ,=B=.,-0YR>)]\NXO!)EPO+' #N8
M<JSC4%BM@8_,&3"--YDC_]!'VV8J'&1S;#0_HGO,Q(DSS3L&K-$W3SB+E[_'
M)1&<M/[I-<F7]U%>[O9BBSUE1F5K96N6M1CF*:M38->TRC1AG+ RSD:66>=A
M,V7TAY96U2Q0$U:EGXXUM;02!YM98? 8\\3A9HS%2>J9"$K=NAWF%#$QA5*O
MG$%)B%GTQC<WCW'4<-/9-9$6/'8NH2AUVQF4A$#1&^?=/%#4\./9A:+_+CUI
M\_DA;3I%(.!S']8V#^H@\6UVX38ET&UFG*D%A;G_)O,!KQ;]<P?.N' T<0_.
ML(8,R%TXV\YZY#/[V'MKA0MQYMWU1_0F3G%T3?,J:M9L^17V2=: -#.)DPV3
MZR8C]@L59=&F.!![%?4+-E9!H^#!Y-033D\BEYFI]#L)ZTH_R$P%KI'9-%5-
M?OH*%<V6. H-2L) YHF+<!; @9V#5L'GO5M0(:S4,6A2%FB_?7$.S@)%#=^@
M53 &X!J4"R!W#IJ4A<'1&P?A+'#4\ ]:A6, [D&Y  ('H58A& #=.PEG01[$
M1V@5<AZ["!4MA_D'IS&!8=$_S^ LV#3Q"5K%:DC>0)O[XK$'\&/MC!4NOWGV
MQA_1TV?L?)J8B4ZC6O-G7JW[^-K$CK'$GR<GVC_3RB5R]MS$=93DOT3I%ETF
M19SB8INCQ6KU7'G#'U\1*A^2XM?B;$T3M8JLVC0FM6I,F3@;>XH.QY;TTA]Q
M_$KIV#*MS$\/84=.B3=0034>=)YX^=30@4D&Q8:0FW]>N:X0,@^<DHYC<7WQ
MK&EUOX;'# 0 _SUAG<9*O5Y*NC$$O/%F:4% PTL%@H#_WJ=.8_F>)C'!N-/=
M>Y"T>AOB&0)UL\<>GTXK8=X=>(%Q__OGM='"@XDW!H0/'[TLP>]J1BZ,T[X&
MYMR9;6?S$?T[(&?$-%^.J(I:ZW_SP&_3,7""I\,D%./DAG,\!$;8HYA8S.MM
M26#=O54;[?"6EP$41+YOO(+<A[2,@KQ_.H(*TR\.$OLI>/KVBE:_Q0_H#65;
M5"4CI \/<E_PD")&CP4715 682#+2"$&:(/6XULZLT8*^:,Q*_*?2[3<QNSJ
MT^H![Z)TM)ZRP6J 2#-6OB/3@H*T$&I6WQSIT )86:E7#-:RSX[>5?[1@S45
M/<++2 >^)INSEQRAT7N[G9-N*5WGA%M YVS[^(!2NHME-Q">\B@K(@;^XGS7
M_7+VG@R79_H%:RWH%/1"+9=X'27#MP[%!!PQ&P)[T'R(R';D+4%?R#ZQS).X
M_(36SZ,%D8*J::F(RIG!DB@70Z7JFZ8Q1VJ A)SF6!P[TA]P;&( I,4JE5?"
M5,UA;NDI<4<107*+CR=8R'$D$+>NH5I5=5A6M_M)"CXKP:<AC^:=3JN44Y"0
M5BZM_8FI6LUER\]14:(OS-^.\K<D1@5WAH*2UV*HR7VSN>/I2U-DD-'=3VEJ
M[KXY?CXG!>K8.#Y,9#0--O@T 0 "()PN"O@L??.X/.)M^?H)E3FF#3XC_\!Y
M4NZX$ #1UMI2T/H/"1UA-:&A8!VXJP,R_XN79N:K7MXRE\/X8ZYX9UGB]M:T
M!A;M(-ZBVR1#-R5:\R[P*&DE7J,.[3P"\(\0)12<QLYPA'BWI59JL5J4KRC_
M";^A/*/JB%*RXOF_VZA(NK\U&7O?$H*180]8X%2+/(F3%^.9X_JUIQ[Q2.]X
M@B=5Y]N"MA&FFE*+)WR)TH0TGW=D":(= $U ZSN4(")J@47 T+=%[B\XW:[1
M8E7!=IO'KU&!AC=JY$2U=D1$OO8\2"A0EXLX.7NGR(ZWIPE#?,+LJD*.>KOW
M*EIQ5W#7#[H%V_D97M!76!D+#X*:#G??'NXFD^)_V#'W!2[*Q:IS!9'T6;-V
M'$))ITR#(E@9;P%D(#(,.S#&OKW0?<]"0!>KZR2+LCC)7JJFUP+"4#2!10,J
M(Q;>8FRZ0F"0,ZIGCB=+'#LCQMMG#-FPJAT1+>/F5O>(8>"GQ2#7CH['0L.Y
MHV!KOKYS[2^;DJT $DLT/3F!H)9F^S351_F/;T<J)QW[:_6-^ZG7'>B]1-ER
MOUOH=<AFFZ-X%Z?5 =<?8KRN&D#54"K4P/YS@=?KI&3KO$M41DE:?&UM-C7I
M^7H6-0)-A0>]HLYV/+7VBU*D ='W1LSQ=V>RG.4H6JP>4)1>%03%B*S^B+I'
ML< JLEHR,9D[&R;L# P6:V"GAARI,1)S"C=BY185!4+]X<>&YXK>)>("'UJ@
M'0GJ GXB1UM4 (8@/'US#/9;6WPB#7U-=^?D[X?Q!@M&7"M,1>PG+K1$!&!"
MQ<]\<?F&\F?LWGW( ST1C:R*4HI]@(7A4$O,2X_:3PSI"6EH6'H,S7V ]D^@
M41Y3<5[08G63Q3EMZTUVGR?K*&>XKWV;USCO"S1VYDSCL_?HF/+Q$UVV% /
MW82JG+D7[5BUOCCTXE8V0JB4ACL)MC1^(@LBD/:4U[)Q]D*Q'40\;I_3"O]D
MIS^$ O]C$P@X^.AGYTM% /3ZL+QY,@@ONKL/8D&2'#D1UP1XD Q'PP: <M\
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MBVY:T.W;0[<@O(E":]1@'SK6[AI&*G@[4QQ:X&-(*3!!9^(EGDAGP^>S'+;
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M/P5M$P0VP'H6V[#CZP[IRYTMR&YF(<S]3#X]:V-#2<H[P;+,D$X:8'O&T6C
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M<;P;UD#JYG%J%;7[,)JS;?G*$K=P[A_)B89!- ,BCT3CWD52D0G%<WX7B30
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M4$L! A0#%     @ ,4CG4,_WH" ,QP$ ]7@1 !$              ( !
M '!C>6\M,C R,# U,S$N>&UL4$L! A0#%     @ ,4CG4,4^V)\X&   XQT!
M !$              ( !.\<! '!C>6\M,C R,# U,S$N>'-D4$L! A0#%
M  @ ,4CG4#&/3DJ^$   >^   !4              ( !HM\! '!C>6\M,C R
M,# U,S%?8V%L+GAM;%!+ 0(4 Q0    ( #%(YU"T:])% $(  .]+!  5
M          "  9/P 0!P8WEO+3(P,C P-3,Q7V1E9BYX;6Q02P$"% ,4
M"  Q2.=06P4BMD#F   )G T %0              @ '&,@( <&-Y;RTR,#(P
M,#4S,5]L86(N>&UL4$L! A0#%     @ ,4CG4*V;-77_:   -2P' !4
M         ( !.1D# '!C>6\M,C R,# U,S%?<')E+GAM;%!+!08     !@ &
+ (H!  !K@@,    !

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
